CA is liable for it or not

if the ca can prove that he exercised due diligence , he cant b held liable

CA can not be held liable, since it is not a infraction of any law. It is just a violation of agreement between bank and company. CA has no duty regarding this.

i have submitted 112 for CS permission with penalty 300 for late filing.

but intitute reply via letter That ur memebrship number will u get 4 months late due to late filing but there is no provision in 112 regarding this. CS is also not regular course.

wht shuold i do becuase i already paid panelty for late submission ?

Management  Representation letter is taken by Auditor from the management  during the audit finalisation and hence Auditor not held liable since there is no voilation of law or in Institute's Pronouncements

Originally posted by : Ravi Khandelwal
	CA can not be held liable, since it is not a infraction of any law. It is just a violation of agreement between bank and company. CA has no duty regarding this.

agree

Eventhough CA is not liable for that, i think, he has to make a statement in the audit report about vaiolation of terms.

No..................yr not in statutory audit

yes A CA is not liable for non compliance of banking terms

CA can not be held liable for non compliance of terms.