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CA Auditya Audi
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SEBI slaps Rs 34 cr fine on Brightcom Group, promoters for:- 1. Misrepresenting the FS 2. Non compliance of AS 3. Artificial Inflation of profits 4. Failure to disseminate standalone FS 5. Incorrect shareholding pattern 6. Illegal promoter gains 7. Guilty of misleading the market 8. Failure of disclosure While investors in the stock market chase speculation & inflated FS, auditors assert that they have obtained SAAE through professional skepticism. Meanwhile, regulators have uncovered hidden discrepancies in audited FS from 2014-2020, who knows what was concealed previously? Ironically, it's the investors who bear the brunt—especially those who invested based on these manipulated figures. But does this mean they will never be compensated for their losses? If not, what recourse do they have? Or must we simply accept the stock market as a vast, unpredictable ocean, where investors are merely sailors at the mercy of its waves? #SEBI #audit #investors Source:-https://lnkd.in/gH2_cjhR
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