ICAI to take action against CA involved in money laundering

ICAI Press Release – Robust Disciplinary Mechanism – (13-04-2017)

Our attention has been drawn to the media reports regarding the raids conducted by the Enforcement Directorate on the offices of the Chartered Accountants in New Delhi, who were alleged to be involved in the money laundering and hawala like transactions through shell companies. The Disciplinary Directorate of the ICAI is already seized of the matter and has initiated the proceedings as per the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, against such Chartered Accountants who were alleged to be involved in the money laundering through dubious and suspicious companies.

The ICAI would like to inform that the matter will be dealt seriously to look into all the violations in these cases as per the Code of Conduct of the Institute and necessary action will be taken in accordance with the laws of the land.