Rajib Kumar Mishra was barred by SEBI from having board seats in any company for six months with Rs 10 lakh penalty
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Money was returned following concerns raised by auditors and board members with regard to the Co. bearing the legal cost of Mishra's own legal issues with Sebi
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Role of Statutory Auditors is under the scanner as a probe in PFS so far has revealed hiding fraud in loan accounts to keep the board in the dark on crucial forensic audit reports. SEBI notice holds PFS chairman Rajib Mishra and MD CEO Pawan Singh responsible
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