The Institute of Chartered Accountants of India, headquartered in New Delhi, exercises its regulatory authority over its members in accordance with the Chartered Accountants Act, 1949. Recent notifications reveal disciplinary actions against several members for professional misconduct.
Detailed Analysis:
| S. No. | CA Name | Misconduct Type | Removal Duration | Fine Amount |
| 1 | Avadhoot Ramesh Asaikar | Other Misconduct | One month | Rs. 50,000/- |
| 2 | Vinay Kumar Seth | Other Misconduct | One month | – |
| 3 | Paragesh Kishor Joshi | Professional Misconduct | Six months (originally ordered for two years, reduced on appeal) | Rs. 1,00,000/- |
| 4 | Daulat Mal Mehta | Other Misconduct | Three months | Rs. 1,00,000/- |
| 5 | Durgesh Kumar Mishra | Other Misconduct | One month | – |
| 6 | Kaustubh Pratik | Professional Misconduct | One month | – |
| 7 | Ashwani Kumar Dewan | Professional and Other Misconduct | One month | – |
| 8 | Haresh Kantilal Shah | Other Misconduct | One month | – |
| 9 | Sanjay Kumar Ruia | Other Misconduct | Three months | Rs. 1,00,000/- |
| 10 | Joydeep Roy | Professional Misconduct | Extended due to non-payment | Rs. 25,000/- |
| 11 | CA. Musalaiah Penagaluri | Professional Misconduct | One month | – |
| 12 | CA. Surajit Datta | Professional and Other Misconduct | Four Months | – |
Conclusion:
The recent notifications from the Institute of Chartered Accountants of India in New Delhi highlight its commitment to upholding professional standards. These actions underscore the importance of ethics and accountability within the accounting profession, ensuring trust and integrity in financial practices.
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THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI
(Set up by an Act of Parliament)
NOTIFICATION
New Delhi, the 16th April, 2024
(CHARTERED ACCOUNTANTS)
No. PR/221/2020/DD/230/2020/BOD/660/2022.—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. Avadhoot Ramesh Asaikar (M. No. 102887), 65/20 1st Floor, Krutanjali, Shangrilla Restaurant Lane, Law College Road, PUNE(Maharashtra) 411004, 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. Avadhoot Ramesh Asaikar (M. No. 102887) from the Register of Members for a period of 01(One) month and also imposed a Fine of Rs. 50,000/- (Rupees Fifty Thousand) 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. Avadhoot Ramesh Asaikar (M. No. 102887) shall stand removed from the Register of Members for a period of 01(One) month with effect from 16th April, 2024.
(Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./033/2024-25]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NOTIFICATION
New Delhi, the 16th April, 2024
(CHARTERED ACCOUNTANTS)
No. PR/142/15/DD/149/2015/BOD/411/2017.—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. Vinay Kumar Seth(M. No. 406625), 24/73-76, Kishori Niwas, Birhana Road, KANPUR(Uttar Pradesh) 208001, 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. Vinay Kumar Seth(M. No. 406625) from the Register of Members for a period of 01(One) month. 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. Vinay Kumar Seth (M. No. 406625) shall stand removed from the Register of Members for a period of 01(One) month with effect from 16th April, 2024.
CA.(Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./028/2024-25]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
(Set up by an Act of Parliament)
NOTIFICATION
New Delhi, the 16th April, 2024
(CHARTERED ACCOUNTANTS)
No. PR/224/2015/DD/227/2015/DC/723/2017 .—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. Paragesh Kishor Joshi (Membership No. 131603), Bhagyada Ankit Residency, Flat No. 1, Vidyanagar Road No. 3, Warnali Road, Vishrambag, SANGLI(Maharashtra) 416415, guilty of Professional Misconduct falling within the meaning of Clauses (5), (6) (7) and (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. Paragesh Kishor Joshi (Membership No. 131603) from the Register of Members for a period of 02(Two) years and also imposed a fine of Rs. 1,00,000/-(Rupees One Lakh) only. Aggrieved by Order of the Committee, the Respondent preferred an Appeal (no. 26/ICAI/2021) before the Appellate Authority in terms of Section 22G of the Chartered Accountants Act, 1949 and the Appellate Authority by its order dated 13th November, 2023 reduced the period of removal of name of the Appellant from 2(Two) years to 06(Six) months alongwith a fine of Rs. 1,00,000/- (Rupees One Lakh) only. In pursuance thereof and in exercise of the powers conferred by subsection (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. Paragesh Kishor Joshi (Membership No. 131603), shall stand removed from the Register of Members for a period of 06(Six) months with effect from 16th April, 2024.
CA.(Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./024/2024-25]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NOTIFICATION
New Delhi, the 16th April, 2024
(CHARTERED ACCOUNTANTS)
No. PR/G/138/2021/DD/181/2021/BOD/652/2022.—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. Daulat Mal Mehta (M. No. 034930), 702, ACME Plaza, Opposite Chakala Metro Station, Near Sangam Cinema, Andheri East, MUMBAI(Maharashtra) 400059, 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. Daulat Mal Mehta (M. No. 034930) 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 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. Daulat Mal Mehta (M. No. 034930) shall stand removed from the Register of Members for a period of 03(Three) months with effect from 16th April, 2024.
CA. (Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./032/2024-25]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NOTIFICATION
New Delhi, the 16th April, 2024
(CHARTERED ACCOUNTANTS)
No. PR/201/2021/DD/230/2021/BOD/694/2023.—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. Durgesh Kumar Mishra (M.No. 558358), B-37, Gali No. 1, West Vinod 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. Durgesh Kumar Mishra (M.No. 558358) from the Register of Members for a period of 01(One) month. 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. Durgesh Kumar Mishra (M.No. 558358) shall stand removed from the Register of Members for a period of 01(One) month with effect from 16th April, 2024.
(Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./035/2024-25]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NOTIFICATION
New Delhi, the 16th April, 2024
(CHARTERED ACCOUNTANTS)
No. PR/28/2020/DD/65/2020/BOD/621/2022.—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. Kaustubh Pratik (M. No. 421621), Devjyoti Niwas, Road No. 4, IAS Colony, Near Golki More, Sadbhawana Nagar, PATNA(Bihar) 800027, guilty of Professional Misconduct falling within the meaning of Item (11) of Part I of the First Schedule to the Chartered Accountants Act, 1949 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. Kaustubh Pratik (M. No. 421621) from the Register of Members for a period of 01(One) month. 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. Kaustubh Pratik (M. No. 421621) shall stand removed from the Register of Members for a period of 01(One) month with effect from 16th April, 2024.
CA.(Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./031/2024-25]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NOTIFICATION
New Delhi, the 16th April, 2024
CHARTERED ACCOUNTANTS)
No. PPR/P/122/16/DD/327/INF/2017/BOD/519/2019.—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. Ashwani Kumar Dewan (M.No. 082910), B-4/41, 2nd Floor, Safdarjung Enclave, NEW DELHI-110029, guilty of Professional and ‘Other Misconduct’ falling within the meaning of Item (11) of Part I and 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. Ashwani Kumar Dewan (M.No. 082910) from the Register of Members for a period of 01(One) month. 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. Ashwani Kumar Dewan (M.No. 082910)shall stand removed from the Register of Members for a period of 01(One) month with effect from 16th April, 2024.
(Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./029/2024-25]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
(Set up by an Act of Parliament)
NOTIFICATION
New Delhi, the 16th April, 2024
(CHARTERED ACCOUNTANTS)
No. PR/29/2021/DD/69/2021/BOD/690/2023.—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. Haresh Kantilal Shah (M. No. 035072), 403, Prabhat Kiran Housing Society, Manish Park, Pump House, Andheri(East), MUMBAI (Maharashtra) 400093, 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. Consequently after affording an opportunity of being heard in terms of Rule 15(1) of the aforesaid Rules, the Board ordered for removal of the name of CA. Haresh Kantilal Shah (M. No. 035072) from the Register of Members for a period of 01(One) month. 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. Haresh Kantilal Shah (M. No. 035072) shall stand removed from the Register of Members for a period of 01(One) month with effect from 16th April, 2024.
(Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./034/2024-25]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NOTIFICATION
New Delhi, the 16th April, 2024
(CHARTERED ACCOUNTANTS)
No. PR/248/18/DD/260/2018/BOD/590/2021.—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. Sanjay Kumar Ruia (M.No. 046453), Sanjay Ruia & Associates, 314-315, Punit Chambers, Plot No. 796C, Sector 18, Sanpada Vashi, NAVI MUMBAI (Maharashtra) 400703, 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. Sanjay Kumar Ruia (M.No. 046453) 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 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. Sanjay Kumar Ruia (M.No. 046453) shall stand removed from the Register of Members for a period of 03(Three) months with effect from 16th April, 2024.
(Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./030/2024-25]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
(Set up by an Act of Parliament)
NOTIFICATION
New Delhi, the 16th April, 2024
(CHARTERED ACCOUNTANTS)
No. PR/G/382/2017/DD/21/2018/DC/1433/2021 .—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. Joydeep Roy (Membership No. 303146), Annapurna Bhawan, Patra Para Balitikuri Kalitala, HOWRAH(West Bengal) 711113, guilty of Professional Misconduct falling within the meaning of Clauses (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. Joydeep Roy (Membership No. 303146) from the Register of Members for a period of 02(Two) years and also imposed a fine of Rs. 25,000/-(Rupees Twenty Five Thousand) only to be paid within 90 days of receipt of the Order and in case of default in payment of fine within stipulated time, his name be removed for an additional period of 1(One) month. Since the Respondent has failed to pay the imposed fine within stipulated time, 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 CA. Joydeep Roy (Membership No. 303146), shall stand removed from the Register of Members for a consolidated period of 25(Twenty Five) months [02(Two) years plus additional 01(one) month] with effect from 16th April, 2024.
(Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./036/2024-25]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
(Chartered Accountants)
NOTIFICATION
New Delhi, the 16th April, 2024
No. PPR/P/87/15/DD/68/INF/2015/BOD/314/2017.—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. Musalaiah Penagaluri(M. No. 023675), C-26-108, Jayanagar Colony, KADAPA(Andhra Pradesh) 516002, 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. Musalaiah Penagaluri(M. No. 023675) from the Register of Members for a period of 01(One) month. 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. Musalaiah Penagaluri(M. No. 023675) shall stand removed from the Register of Members for a period of 01(One) month with effect from 16th April, 2024.
CA.(Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./027/2024-25]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
(Set up by an Act of Parliament)
NOTIFICATION
New Delhi, the 16th April, 2024
(CHARTERED ACCOUNTANTS)
No. PPR/434/2019/DD/01/INF/2020/DC/1504/2021 .—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. Surajit Datta (Membership No. 061755), Shop no. 14, Block F, Commercial Sugam Park. 195, N S Road, KOLKATA(West Bengal) 700103, guilty of Professional Misconduct falling within the meaning of Item (1) of Part II of Second Schedule and “Other Misconduct’ falling within the meaning of Item (2) of Part IV of the First 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. Surajit Datta (Membership No. 061755) from the Register of Members for a period of 03(Three) months and also imposed a fine of Rs. 25,000/-(Rupees Twenty Five Thousand) only to be paid within 90 days of receipt of the Order and in case of default in payment of fine within stipulated time, his name be removed for an additional period of 1(One) month. Since the Respondent has failed to pay the imposed fine within stipulated time, 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 CA. Surajit Datta (Membership No. 061755), shall stand removed from the Register of Members for a consolidated period of 04(Four) months [03(Three) months plus additional 01(one) month] with effect from 16th April, 2024.
(Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./026/2024-25]
