CA in practice cannot run Business via Companies, Trusts & Firms

In the instant case the admitted position is that the respondent is registered with the Council to practice as a Chartered Accountant. He cannot be a director of a company without the permission of the Council. The appellant is the promoter of various companies of which he is a director as per the evidence on record. Being a Chartered Accountant the respondent cannot actively carry on business through companies, trusts and firms. There is evidence that the respondent is doing so. Extract of the Judgment 1. The Institute of Chartered Accountants has made the instant Reference under Section 21(...