No intervention of HC if CA Firm Demerger is as per ICAI Rules: HC

Brief of the Case Delhi High Court held In the case of Arun Khanna vs. The ICAI & ANR that the notice issued to the ICAI for demerger of the firms was as per the notified rules in this regard. As per these rules it is clear that no concurrence / acceptance from all partners is required and can be effected at the option of 75% or more partners of one of the erstwhile firms. Here, all the partners of one of the two merging firms opted to demerge. Upon such demerger, the other merging firm viz. Arun Khanna & Associates stood revived. Facts of the Case The assessee is a practising Chartere...