CA, CS, CMA judiciary-2

Revisiting Classic Decisions-#1- Global payment solution provider MasterCard has a PE in India: AAR

Re. MasterCard Asia Pacific Pte. Ltd. (AAR)

To create a PE, one has to pass the three tests of: permanency, a fixed place and disposal. All the three tests are satisfied and hence MIPs act as PE of the applicant. We hold that significant activities relating to clearance and settlement take place in India. Detailed analysis of Galileo judgement and application of the rationale hel...

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Misconduct if a CA indulge in other business without permission

Yogendra N. Thakkar Vs Board of Discipline (Appellate Authority)

Appellant in this case was actually involved in the business of the company and he formed this company along with his family members in order to venture into a new business apart from the profession of chartered accountancy. The Appellant did indulge in the business without the permission of the Council. He was, therefore, rightly held gu...

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Fees for certified copies sought under RTI cannot be charged under CS Act, 1980

ICSI Vs Paras Jain (Supreme Court of India)

Avenue for seeking certified copies as well as inspection is provided both in the Right to Information Act and in Company Secretaries Act, 1980. We are cognizant of the fact that guidelines of the appellant, framed by its statutory council, are to govern the modalities of its day-to­day concerns and to effectuate smooth functioning of it...

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CS found guilty of filing Compliance Certificate without Due Diligence

Shri Rajev M. Bhingarde Vs Shri Hemant S. Shetye

Shri Rajev M. Bhingarde Vs Shri Hemant S. Shetye (Disciplinary Committee, ICSI) Disciplinary Committee after considered all the material on record, the nature of issues involved and in the totality of the circumstances of the case and the Respondent pleaded guilty only to the charge of not exercising due diligence in respect of notices fo...

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Order on quantum of Punishment without providing opportunity of being heard is invalid

Gayathri Pasarakayala Vs Disciplinary Committee (ICSI Appellate Authority)

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 conve...

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Posted Under: CA, CS, CMA |

Working as Asst CS/ Management Trainee cannot be considered as equal to CS

Ritu Bhatia Vs Ministry Of Civil Supplies consumer Affairs & Public Distribution And Others (Supreme Court of India)

Working experience as an Assistant Company Secretary or a Management Trainee cannot be treated as equal to a Company Secretary so as to become eligible for the post of Company Secretary....

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Misconduct Proceedings against CA for Sexual Harrassment is valid : HC

Lalit Agrawal Vs ICAI & ANR (Delhi High Court)

Lalit Agrawal Vs ICAI & ANR (Delhi High Court) Hon;ble Court is unable to accept the contention that the Board of Discipline does not have the jurisdiction to examine the alleged misconduct which includes Sexual Harrassment on the part of the petitioner. Clause (2) of Part-IV of the First Schedule to the Act is wide, […]...

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Misconduct Allegations against CS not sustainable in absence of Evidence

Shri Nizar Mawani Vs Shri Ajay Moreshwar Antarkar (ICSI)

Shri Nizar Mawani Vs Shri Ajay Moreshwar Antarkar (ICSI Disciplinary Committee ) The Disciplinary Committee and after considering all the material on record and after considering all the facts and circumstance of the matter observed that the instant case has arisen out of an affidavit purportedly filed before CLB, Mumbai, by the Responden...

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CA can be held guilty of professional Misconduct for his act although unrelated to profession but which brings disrepute to the profession or ICAI

Council of the ICAI Vs Shri Gurvinder Singh & Anr. (Supreme Court of India)

Council of the ICAI Vs Shri Gurvinder Singh & Anr. (Supreme Court of India) The Supreme Court observed that the chartered accountants can be proceeded against for their acts which bring disrepute to the profession whether or not related to his professional work. The bench comprising Justice Rohinton Fali Nariman and Justice Navin Sinh...

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What should happen on the exam day of any subject of CA final/IPCC?

Here are the things, which, if followed, I assure that you will be confident in each of your exam (provided you have completed the subject 2-3 times): 1. Sleep for 7 hours in the night just before the day of your exam. That is only way to RECALL everything you have read so far while writing the exam...

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