Case Law Details
In the instant case the admitted position is that the respondent is registered with the Council to practice as a Chartered Accountant. He cannot be a director of a company without the permission of the Council. The appellant is the promoter of various companies of which he is a director as per the evidence on record. Being a Chartered Accountant the respondent cannot actively carry on business through companies, trusts and firms. There is evidence that the respondent is doing so.
Extract of the Judgment
1. The Institute of Chartered Accountants has made the instant Reference under Section 21(5) of the Chartered Accountants Act, 1949 in respect of the respondent being indicted for a misconduct other than such misconduct which is referred to in sub-Section (4) of Section 21. It needs to be noticed at this stage that with respect to the misconduct for which the respondent has been indicted falling within sub-Section (4) of Section 21 the penalty levied : of removal of the name from the Member of Register for a period of six months was challenged by the respondent in Chat.A.C.No.5/2012 which he withdrew. Thus, we shall be referring to such facts as would be relevant to decide the present Chat.A.Ref.
2. If we affirm the findings returned by the Disciplinary Committee constituted by the Institute of Chartered Accountants which has been accepted by the Council, the charge proved would be that of a misconduct.
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