Introduction: The Institute of Chartered Accountants of India (ICAI) has recently made significant disciplinary decisions, resulting in the permanent removal of two members and a one-year suspension for another. These actions were taken in accordance with the Chartered Accountants Act, 1949.

Detailed Analysis:

1. CA. Siva Prasad Pulavarthi (Membership No. 204076): The Disciplinary Committee found CA. Siva Prasad Pulavarthi guilty of professional misconduct and ordered his permanent removal from the Register of Members. Despite appeals and legal efforts, the decision was upheld, leading to his removal from the register with effect from December 27, 2023.

2. CA. Sanat Kumar Sinha (Membership No. 052610): CA. Sanat Kumar Sinha faced disciplinary action resulting in a one-year suspension. The Disciplinary Committee’s decision was affirmed by the Appellate Authority, and as of December 27, 2023, his name stands removed from the Register of Members for a period of one year.

3. CA. Ravindernath Ch (Membership No. 204494): Similar to CA. Siva Prasad Pulavarthi, CA. Ravindernath Ch faced permanent removal and a fine of Rs. 5,00,000/-. Despite legal proceedings, including a Writ Petition, his removal from the register was confirmed, effective December 27, 2023.

Conclusion: The recent actions by ICAI reflect its commitment to upholding professional standards within the accounting community. The permanent removal and suspension of members underscore the seriousness with which the institute addresses professional misconduct. The cases highlight the exhaustive process followed by ICAI, involving investigations, hearings, and legal recourse, ensuring a fair and transparent disciplinary system.

Text of the ICAI notifications is as follows:-

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
(Set up by an Act of Parliament)
NOTIFICATION
New Delhi, the 27th December, 2023
(CHARTERED ACCOUNTANTS)

No. PPR/1/S/09/DD/1/S/INF/09/DC/41/09: In terms of the provisions of Section 21B(3) of the Chartered Accountants Act, 1949 read with Rules 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. Siva Prasad Pulavarthi (Membership No. 204076), Flat No. 501, Block A Fresh Living Apartments, Next to Reliance Fresh Super Market, HYDERABAD(Telangana)-500081, guilty of Professional Misconduct falling within the meaning of Clause (1) of Part II and Clause (7) of Part I of Second Schedule to the aforesaid Act. After affording an opportunity of hearing in terms of Rule 19(1) of the aforesaid Rules, the Disciplinary Committee ordered for PERMANENT removal of the name of aforesaid CA. Siva Prasad Pulavarthi (Membership No. 204076) from the Register of Members and also imposed a fine of Rs. 5,00,000/-(Rupees Five Lakhs only). Aggrieved by Order of the Committee, the Respondent preferred an Appeal in terms of Section 22G of the Chartered Accountants Act, 1949, wherein an interim stay was granted vide Order dated 25th February, 2012. However, the Appellate Authority vide its Order dated 5th September, 2012 dismissed the appeal and upheld the impugned Order of the Disciplinary Committee. In compliance of the same, the Respondent had deposited a demand draft of Rs. 5,00,000/-(Rupees Five Lakhs only) in favour of ICAI against the fine imposed upon him in the matter. Aggrieved by the said Order, CA. Siva Prasad Pulavarthi (Membership No. 204076) filed a Writ Petition bearing no. 553/2013, before the Hon’ble High Court of Delhi, wherein an interim stay was granted vide Order dated 18th February, 2013. However, the said Writ Petition was dismissed by the Hon’ble High Court of Delhi vide its Order dated 24th May, 2023, on account of non-prosecution. 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. Siva Prasad Pulavarthi (Membership No. 204076), shall stand PERMANENTLY removed from the Register of Members with effect from 27th December, 2023.

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

[ADVT.-III/4/Exty./644/2023-24]

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
(Set up by an Act of Parliament)
NOTIFICATION
New Delhi, the 27th December, 2023
(CHARTERED ACCOUNTANTS)

No. PR/162/16/DD/181/16/DC/1069/2019.—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. Sanat Kumar Sinha (Membership No. 052610), 3, Shyam Bazar Street, KOLKATA (West Bengal) 700005, guilty of Professional Misconduct falling within the meaning of Clause (7) 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. Sanat Kumar Sinha (Membership No. 052610) from the Register of Members for a period of 01(One) year. Aggrieved by Order of the Committee, the Respondent preferred an Appeal in terms of Section 22G of the Chartered Accountants Act, 1949 and the Appellate Authority in appeal no. 5/ICAI/2023 vide its order dated 13th November, 2023 has upheld the impugned order of the Disciplinary Committee. 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. Sanat Kumar Sinha (Membership No. 052610) shall stand removed from the Register of Members for a period of 01(One) year with effect from 27th December, 2023.

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

[ADVT.-III/4/Exty./642/2023-24]

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
(Set up by an Act of Parliament)
NOTIFICATION
New Delhi, the 27th December, 2023
(CHARTERED ACCOUNTANTS)

No. PPR/1/S/09/DD/1/S/INF/09/DC/42/09: 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. Ravindernath Ch (Membership No. 204494), 5/3RT L I G H, Flat No. 202, Vijayanagar Colony, HYDERABAD (Telangana)-500057, guilty of Professional Misconduct falling within the meaning of Clause (1) of Part II and Clause (7) of Part I of the Second Schedule to the aforesaid Act. After affording an opportunity of hearing in terms of Rule 19(1) of the aforesaid Rules, the Disciplinary Committee ordered for PERMANENT removal of the name of aforesaid CA. Ravindernath Ch (Membership No. 204494) from the Register of Members and also imposed a fine of Rs. 5,00,000/-(Rupees Five Lakh only). Aggrieved by Order of the Committee, the Respondent preferred an Appeal in terms of Section 22G of the Chartered Accountants Act, 1949, wherein an interim stay was granted vide Order dated 25th February, 2012. However, the Appellate Authority vide its Order dated 5th September, 2012 dismissed the appeal and upheld the impugned Order of the Disciplinary Committee. In compliance of the same, the Respondent had deposited a demand draft of Rs. 5,00,000/-(Rupees Five Lakhs only) in favour of ICAI against the fine imposed upon him in the matter. Aggrieved by the said Order, CA. Ravindernath Ch (Membership No. 204494) filed a Writ Petition bearing no. 554/2013, before the Hon’ble High Court of Delhi, wherein an interim stay was grated on 18th February, 2013. However, the said Writ Petition was dismissed by the Hon’ble High Court of Delhi vide its Order dated 24th May, 2023, on account of non-prosecution. 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. Ravindernath Ch (Membership No. 204494), shall stand PERMANENTLY removed from the Register of Members with effect from 27th December, 2023.

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

[ADVT.-III/4/Exty./643/2023-24]

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