Cost Accountants in practice cannot work as MD in a company

Ashok B. Nawal Vs ICWAI (Appellate Authority) 1. A complaint in Form-I was received against the Appellant filed by Shri Ashish Prakash Thatte (hereinafter referred to as complainant), alleging contravention of the provisions of CWA Act/CWA Regulations and Rules framed thereunder on account of: (i) Accepting position as Managing Director (MD) in a company despite clearly prohibited by Cost and Works Accountants Act and Cost and Works Accountants Regulations (ii) Accepting remuneration / fixed salary other than share in Partnership firm (iii) Solicits clients indirectly by advertisement on Inst...