Case Law Details
Case Name : Council of the Institute of Chartered Accountants of India Vs Ved Prakash Verma (Delhi High Court)
Related Assessment Year :
Courts :
All High Courts Delhi High Court
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The Disciplinary Committee of the petitioner gave the following reasons for holding respondent No.1 guilty as aforesaid:-
(I) that the Economic Offences Wing of the Delhi Police, on the complaint of the complainant company had found that Sh. Sanjay Daksha, Sh. Sofi-urrehman, Sh. Binod Rajhans did not figure in the complainant company records before 8th March, 2004, on which date many anti-dated documents were filed in the Registrar of Companies Office claiming that they were Directors of the complainant company since 1993-94; however, the concerned Fo
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Firstly, the Institute of Chartered Accountants of India MUST remove “for all time” the name of such CA’s who have been proved to have filed bogus documents or signed bogus certificates.
Secondly, there has to be a “jail-term” for a period of at least 6 months for such CA’s.
Thirdly, the Institute MUST start the practice of publishing a NOTICE advertisement in the Economic Times giving a photo and brief details of the CA whose name is “struck-off”. Our Institute is fairly “well-off” to afford an ad in the ET !!
Lastly, just as “justice delayed is justice denied”, so also is “delayed punishment, less harsh”…….let’s not wait 10 years to catch the ‘dirty’ ones. Lets learn from Rajat Gupta being out behind bars within 3-4 years.
Only if we do all of the above, we have some hope of reclaiming the respect for our profession. For the sake of less than 1% of the “dirty” CA’s in the country, the rest 99% are made to feel “dirty”
The wrong things happened in March 2004.
The wrong done is So willful , patent & glaring.
Yet It took more than 10 years to remove the name of the CA.
And the name is removed for 6 month only.
This is not deterrent enough to people doing such wrong things.
To maintain high standards much quick & deterrent steps are required.
Sir,
Removing somebody from the membership of the institute for 6 months is NOT at all a Punishment.
Punishment should have the element of deterrence….
Waseem