ICAI probing chartered accountants for role in helping Chinese loan apps

Indian CAs are accused of not conducting due diligence before signing several statutory documents for several Chinese loan apps

Several chartered accountants (CAs) in India are being probed by the Institute of Chartered Accountants of India (ICAI) for their alleged role in aiding Chinese loan apps. They are accused of not conducting due diligence before signing several statutory documents for these apps, a report by Economic Times (ET) said.
There is no legal restriction on any Chinese company conducting business in India. They are, however, required to get security clearances from the Home Ministry.