Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2013 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (3) TMI 304 - HC - Companies LawChartered Accountants Act, 1949 - Guilty of professional and other misconduct - submission of forged and fabricated income-tax returns to induce the complainant-bank to extend loan to him. - Code of Conduct - Held that:- Council has found the Chartered Accountant guilty of misconduct and has decided to refer the case to the disciplinary committee for inquiry. - Council decided to recommend to this court that the name of the respondent be removed from the register of members for a period of two years.- The court has directed that the respondent be removed forthwith from the membership of the Institute for a period of five years. Whether there is any misconduct committed by the respondent being member of the Institute or not - the contention was that he not a member of ICAI during the relevant period as his membership was cancelled due to non payment of fees - held that:- he was not a member of the Institute from August 1, 1987 to May 1, 2002, but he continued to be in practice which is proved by his own visiting card/business card which was affixed on an application form for loan. - it is proved from the visiting/business card that he had offered to perform his services as chartered accountant and had held himself out to the public as accountant. - Therefore, as per section 2(2), under these circumstances, he was deemed to be in practice. The facts of the present case reveal that the respondent has proved himself to be capable of infamous conduct. The recommended punishment of removal of his name for two years would, be a mockery of the proceedings in view of the serious nature of misconduct. - Taking into consideration his age as 58 years as per documents submitted before the income-tax office, in our opinion, the interest of justice will be met if the respondent is removed forthwith from the membership of the Institute for a period of five years.
|