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2021 (12) TMI 127 - HC - Indian LawsProfessional misconduct of Chartered Accountant - High Court of Karnataka appointed Respondent No.3/Chartered Accountant for verification of the books and other documents of the three Transferor Companies and to submit his report - scheme of merger sanctioned based on the report - HELD THAT:- The report was thus a part of the judicial proceedings before the said Court and it was duly considered and deliberated upon by the Karnataka High Court. The Court sanctioned the Scheme of Amalgamation vide judgment dated 26.03.2015 and it is apparent that the Court found no fault with or falsity in the report. Once the report passed the threshold of judicial scrutiny, there was no reason why the Disciplinary Committee of ICAI should have adjudicated the correctness or otherwise of the Report. In fact, the Disciplinary Committee rightly refrained from interfering in the report by observing that it had no jurisdiction to even delve into the report, once it had received approval from the Karnataka High Court. Hence, no error was committed by ICAI in dismissing the complaint filed by the Appellant - It needs to be highlighted that the order of the Karnataka High Court sanctioning the Amalgamation Scheme was sought to be recalled by India Awake for Transparency, however, the recall application, being in the nature of a review petition, was dismissed. The Appellant has repeatedly defaulted in complying with the orders of various Courts by not depositing the costs imposed - no error has been committed by learned Single Judge while deciding the petition and we are in complete agreement with the observations, reasoning and findings rendered in the impugned judgment. There is no merit in the appeal and the same is accordingly dismissed along with all pending applications with costs of ₹ 50,000/- to be deposited by the Appellant with the Delhi State Legal Service Authority within eight weeks from today. The aforesaid amount shall be utilized for the programme ‘Access to Justice’. The Appeal shall be listed on 07.01.2022, only for the limited purpose of reporting compliance with respect to deposit of costs.
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