Institute of Chartered Accountants of India (ICAI) has issued notifications regarding the removal of names of Chartered Accountants (CAs) from the Register of Members due to professional misconduct. These notifications highlight the violations committed by the CAs, the penalties imposed, and the duration of removal. This article provides an analysis of the notifications and their implications.
Analysis: The notifications from the ICAI inform about the disciplinary actions taken against specific CAs for professional misconduct. The Board of Discipline and the Disciplinary Committee, in accordance with the provisions of the Chartered Accountants Act, 1949, have found the CAs guilty of misconduct falling within the defined categories. Penalties such as removal from the Register of Members and fines have been imposed based on the severity of the misconduct.
The notifications specify the names of the CAs, their membership numbers, and their addresses. They also mention the specific provisions under which the misconduct falls and the rules governing the investigations and proceedings. The penalties include removal from the Register of Members for a period ranging from 15 days to 3 months. In addition, fines have been imposed on certain CAs.
The notifications emphasize that the actions are taken in accordance with the powers conferred by the Chartered Accountants Act, 1949, and the relevant rules and regulations. The removal from the Register of Members means that the CAs will be unable to practice as Chartered Accountants during the specified period.
Conclusion: The notifications issued by the Institute of Chartered Accountants of India (ICAI) regarding the removal of names of CAs from the Register of Members for professional misconduct highlight the seriousness with which the profession upholds ethical standards. The actions taken by the Board of Discipline and the Disciplinary Committee aim to maintain the integrity and credibility of the profession. It serves as a reminder to all CAs to adhere to the highest standards of professional conduct.
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
NOTIFICATION
New Delhi, the 14th July, 2023
(CHARTERED ACCOUNTANTS)
No. PR/101/2020/DD/155/2020/DC/1521/2021.—In terms of the provisions of Section 21B(3) of the Chartered Accountants Act, 1949 read with Rule 18(17) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Disciplinary Committee has held CA. Abhay Balkrishna Upadhye (Membership No. 049354), B-503, Keshav Imperial, Malviya Road, NAGPUR(Maharashtra) 440022, guilty of Professional Misconduct falling within the meaning of Items (5), (7) & (8) of Part I of Second Schedule to the aforesaid Act and consequently after affording an opportunity of being heard in terms of Rule 19(1) of the aforesaid Rules, ordered for removal of name of CA. Abhay Balkrishna Upadhye (Membership No. 049354) from the Register of Members for a period of 03(Three) months and also imposed a fine of Rs. 1,00,000/-(Rupees One Lakh) only. In pursuance of the aforesaid Order of the Disciplinary Committee and in exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations 1988, that the name of said CA. Abhay Balkrishna Upadhye (Membership No. 049354), shall stand removed from the Register of Members for a period of 03(Three) months with effect from 14th July, 2023.
CA. (Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./279/2023-24]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
NOTIFICATION
New Delhi, the 14th July, 2023
(CHARTERED ACCOUNTANTS)
No. PR/73/17/DD/98/2017/BOD/525/2019.—In terms of the provisions of Section 21A (3) of the Chartered Accountants Act, 1949 read with sub-rule (9) of Rule 14 of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Board of Discipline has held CA. Neeraj Bansal (Membership No. 088870), 84, Model Basti, East Park Road, Karol Bagh, NEW DELHI 110005, guilty of ‘Other Misconduct’ falling within the meaning of Item (2) of Part IV of the First Schedule to the Chartered Accountants Act, 1949 read with Section 22 of the aforesaid Act and consequently after affording an opportunity of being heard in terms of Rule 15(1) of the aforesaid Rules ordered for removal of the name of CA. Neeraj Bansal (Membership No. 088870) from the Register of Members for a period of 15 (Fifteen) days. In pursuance thereof and in exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations, 1988 that the name of CA. Neeraj Bansal (Membership No. 088870) shall stand removed from the Register of Members for a period of 15(Fifteen) days with effect from 14th July, 2023.
CA (Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./278/2023-24]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
NOTIFICATION
New Delhi, the 14th July, 2023
(CHARTERED ACCOUNTANTS)
No. PPR/P/011/16/DD/45/INF/17/BOD/573/2020.—In terms of the provisions of Section 21A (3) of the Chartered Accountants Act, 1949 read with sub-rule (9) of Rule 14 of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Board of Discipline has held CA. Deepak Aggarwal(Membership No. 092865), B-3, 105, Prerna Complex, Subhash Chowk, Laxmi Nagar, DELHI 110092, guilty of ‘Other Misconduct’ falling within the meaning of Item (2) of Part IV of the First Schedule to the Chartered Accountants Act, 1949 read with Section 22 of the said Act and consequently after affording an opportunity of being heard in terms of Rule 15(1) of the aforesaid Rules ordered for removal of the name of CA. Deepak Aggarwal (Membership No. 092865) from the Register of Members for a period of 01 (One) month and also imposed a Fine of Rs.1,00,000/-(Rupees One Lakh) only. In pursuance thereof and in exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations, 1988 that the name of CA. Deepak Aggarwal(Membership No. 092865) shall stand removed from the Register of Members for a period of 01(One) month with effect from 14th July, 2023.
CA. (Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./277/2023-24]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
NOTIFICATION
New Delhi, the 14th July, 2023
(CHARTERED ACCOUNTANTS)
No. PR/294/19/DD/287/2019/BOD/570/2020.—In terms of the provisions of Section 21A(3) of the Chartered Accountants Act, 1949 read with sub-rule (9) of Rule 14 of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Board of Discipline has held CA. Bala Balaji M (Membership No. 215450), Senior Auditor, Al Jaber Group LLC, Internal Audit Department, ABU DHABI, United Arab Emirates, guilty of ‘Other Misconduct’ falling within the meaning of Item (2) of Part IV of the First Schedule to the Chartered Accountants Act, 1949 read with Section 22 of the aforesaid Act and consequently after affording an opportunity of being heard in terms of Rule 15(1) of the said Rules ordered for removal of the name of CA. Bala Balaji M (Membership No. 215450) from the Register of Members for a period of 3(Three) months and also imposed an fine of Rs. 1,00,000/- (Rupees One Lakh) only. In pursuance thereof and in exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations, 1988 that the name of CA. Bala Balaji M (Membership No. 215450) shall stand removed from the Register of Members for a period of 03(Three) months with effect from 14th July, 2023.
CA (Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./276/2023-24]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
NOTIFICATION
New Delhi, the 14th July, 2023
(CHARTERED ACCOUNTANTS)
No. PR/48F/16/DD/228/2016/BOD/513/2019.—In terms of the provisions of Section 21A(3) of the Chartered Accountants Act, 1949 read with sub-rule (9) of Rule 14 of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Board of Discipline has held CA. Kumar G. (Membership No. 025885), “VIGFIN House”, New No. 24 (Old No. 15), Yogambal Street, T. Nagar, CHENNAI(TAMILNADU) 600017, guilty of ‘Other Misconduct’ falling within the meaning of Item (2) of Part IV of the First Schedule to the Chartered Accountants Act, 1949 read with Section 22 of the said Act and consequently after affording an opportunity of being heard in terms of Rule 15(1) of the aforesaid Rules ordered for removal of the name of CA. Kumar G. (Membership No. 025885) from the Register of Members for a period of 30(Thirty) days. In pursuance thereof and in exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations, 1988 that the name of said CA. Kumar G. (Membership No. 025885) shall stand removed from the Register of Members for a period of 30(Thirty) days with effect from 14th July, 2023.
CA. (Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./275/2023-24]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
NOTIFICATION
New Delhi, the 14th July, 2023
(CHARTERED ACCOUNTANTS)
No. PR/278/16/DD/308/2016/BOD/467/2018.—In terms of the provisions of Section 21A(3) of the Chartered Accountants Act, 1949 read with sub-rule (9) of Rule 14 of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Board of Discipline has held CA. Veerendra Vishwanath Patil (Membership No. 220542), Shishankar Complex, Shop No. 3, 326/FF/1, Milan Chowk, KALABURAGI (Karnataka) 585 001, guilty of ‘Other Misconduct’ falling within the meaning of Item (2) of Part IV of the First Schedule to the Chartered Accountants Act, 1949 read with Section 22 of the said Act and consequently after affording an opportunity of being heard in terms of Rule 15(1) of the aforesaid Rules ordered for removal of the name of CA. Veerendra Vishwanath Patil (Membership No. 220542) from the Register of Members for a period of 15(Fifteen) days. In pursuance thereof and in exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations, 1988 that the name of said CA. Veerendra Vishwanath Patil (Membership No. 220542) shall stand removed from the Register of Members for a period of 15(Fifteen) days with effect from 14th July, 2023.
CA.(Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./274/2023-24]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
NOTIFICATION
New Delhi, the 14th July, 2023
(CHARTERED ACCOUNTANTS)
No. PR/159/16/DD/206/2016/BOD/408/2017: In terms of the provisions of Section 21A(3) of the Chartered Accountants Act, 1949 read with sub-rule (9) of Rule 14 of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Board of Discipline has held CA. Ranganathan K (Membership No. 010842), H No. 12-13-424, Street No. 11, (Lane opposite to Bank of Baroda), Tarnaka, SECUNDERABAD(Telangana) 500017, guilty of ‘Other Misconduct’ falling within the meaning of Item (2) of Part IV of the First Schedule to the Chartered Accountants Act, 1949 read with Section 22 of the said Act and consequently after affording an opportunity of being heard in terms of Rule 15(1) of the aforesaid Rules ordered for removal of the name of CA. Ranganathan K (Membership No. 010842) from the Register of Members for a period of 15(Fifteen) days. In pursuance thereof and in exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations, 1988 that the name of CA. Ranganathan K (Membership No. 010842) shall stand removed from the Register of Members for a period of 15(Fifteen) days with effect from 14th July, 2023.
CA.(Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./273/2023-24]
If the specific charges made against them are also made available, it will help other members to be more careful while discharging such duties.