Upholds Validity of NFRA Rules and Section 132 of Companies Act: “Transparency and Accountability in Auditing Profession Are Essential and Neither Arbitrary Nor Ultra Vires”

1. Court’s Decision: The Delhi High Court upheld the validity of Section 132(4) of the Companies Act, 2013, and the National Financial Reporting Authority (NFRA) Rules, 2018. It dismissed all…