Case Law Details
Gayathri Pasarakayala Vs Disciplinary Committee (ICSI Appellate Authority)
It is clear that the Disciplinary Committee has not followed the due procedure as prescribed statutorily as no opportunity of being heard was provided to Ms. Gayathri Pasarakayala on the question of quantum of punishment irrespective of her admission of guilt conveyed vide her aforementioned letter dated 4th June, 2017 (sic). Further, the provisions of the Act as well as Rules do not empower the Disciplinary Committee to dispense with the mandatory requirements of providing an opportunity of being heard on account of quantum of punishment on the ground of saving effort and cost of the respondent in the Disciplinary proceedings.
Thus, in view of the above, we are of the considered view that this matter requires to be remanded back to the Disciplinary Committee of the Institute of Company Secretaries of India with the directions to hear both the parties afresh on account of guilt as well as in respect of quantum of punishment in accordance with the applicable provisions of the Company Secretaries Act, 1985 and the Company Secretaries (Procedure of Investigation of Professional and Other Misconduct and Conduct of Cases) Rules, 2007 and pass a fresh order in the matter within 60 days from the date of receipt of this Order.
Full Text of the order of ICSI Appellate Authority
1. Being aggrieved by the Order dated 2nd July, 2018 (Impugned Order) passed by the Disciplinary Committee of the Institute of Company Secretaries of India under Sub-Section (3) of Section 21B of the Company Secretaries Act, 1980 (hereinafter referred to as the “Act”) read with rule 19 (1) of the Company Secretaries (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007 (hereinafter referred to as the “Rules”), Ms. Gayathri Pasarakayala has filed this appeal under Section 22E of the Act challenging the Impugned Order, whereby she was awarded punishment as hereunder:-
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