ICAI Disciplinary Action: CA Srinivas Talluri Penalized

The Institute of Chartered Accountants of India (ICAI) has notified the removal of CA. Srinivas Talluri (Membership No. 029864) from its Register of Members for a period of 10 years, effective June 3, 2025. This action stems from a finding by the Disciplinary Committee that Mr. Talluri was guilty of professional misconduct under various clauses of Part I of the Second Schedule to the Chartered Accountants Act, 1949. The Disciplinary Committee initially ordered permanent removal and a fine of ₹5,00,000. Mr. Talluri appealed this decision to the Appellate Authority, and also filed a writ petition with the Delhi High Court which granted an interim stay. Subsequently, the Appellate Authority, in its order dated March 25, 2025, reduced the period of removal from permanent to 10 years. The fine of ₹5,00,000 remains applicable and must be paid within 30 days.

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
(Set up by an Act of Parliament)
NOTIFICATION
New Delhi, the 3rd June, 2025
(CHARTERED ACCOUNTANTS)

No. DD/1/S/INF/09/DC/40/2009.—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. Srinivas Talluri (Membership No. 029864), Flat No. 4B, Macherla Apartments, 6-3-1218/6, Umanagar, Begumpet, HYDERABAD 500016(Telangana), guilty of Professional Misconduct falling within the meaning of Clauses (5), (6), (7), (8) and (9) 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. Srinivas Talluri (Membership No. 029864) permanently from the Register of Members and also imposed a Fine of Rs. 5,00,000/-(Rupees Five Lakhs only) to be paid within 30(Thirty) days. Aggrieved by the Order of the Disciplinary Committee the Respondent filed an appeal no 01/ICAI/2014 before the Appellate Authority under Section 22G of the aforesaid Act. Since the Appellate Authority was not functional at the relevant time, he also filed a Writ Petition WP(C) 2712/2014 before the Hon’ble High Court of Delhi in which The Hon’ble High Court vide order dated 30^th April, 2014 granted interim stay till the disposal of Appeal by the Appellate Authority. Subsequently, the Appellate Authority after hearing the parties vide its Order dated 25^th March, 2025 reduced the period of removal from permanent to 10 years. In pursuance of the aforesaid Order and in exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act read with Regulation 18 of the Chartered Accountants Regulations, 1988, it is hereby notified that the name of CA. Srinivas Talluri (Membership No. 029864), shall stand removed from the Register of Members for a period of 10(Ten) years with effect from 3^rd June, 2025.

CA. (Dr.) JAI KUMAR BATRA, Secy.

[ADVT.-III/4/Exty./146/2025-26]