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2017 (2) TMI 77 - HC - Indian LawsGuilty of misconduct as defined under Clauses 5, 6, 7 and 8 of Para I of the 2nd Schedule to the Chartered Accountants Act, 1949 - false audit report - justification of audit report for the year 2001-02 in which the amount deposited by the complainant with the society was certified to be ₹ 3.88 lacs as against ₹ 6.88 lacs certified in the audit reports for the two previous years - Held that:- Having perused the reply we find not a word uttered in the reply to counter the conclusions and the reasons given by the Disciplinary Committee. In para 15 of the reply it is pleaded that while conducting the audit for the year 2001-02 it was brought to the notice of the respondent that the complainant had actually paid ₹ 3.88 lacs and not ₹ 6.88 lacs. It is pleaded that the respondent made inquiry and on going through the personal ledger of the members maintained by the society noted that the complainant had actually paid ₹ 3.88 lacs and not ₹ 6.88 lacs. It has not been explained in the reply as to under what circumstances for the previous two years the respondent certified that the complainant had made a deposit totalling ₹ 6.88 lacs. Under the circumstances we accept the finding returned by the Disciplinary Committee as approved by the Council. Keeping in view the gravity of the misconduct the proposed penalty is also accepted. The reference is disposed of levying penalty of removal of name of the respondent from the Institute of Chartered Accountants for a period of one year.
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