Home Case Index All Cases Indian Laws Indian Laws + HC Indian Laws - 2023 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (8) TMI 983 - BOMBAY HIGH COURTDisciplinary Proceedings against Chartered Accountant (CA) - Irregularities in Securities and Banking Transactions (the JPC) SEBI Inspection Report on Canbank Mutual Fund (CBMF) and Annual Reports of various schemes of CBMF for the year 1991-92 - removal of Respondents from the register of members for a period of six months - HELD THAT:- Considering the nature of the charges, the three charges only relate to non-reporting in the annual reports of CBMF. Respondent is not accused of indulging in violative transactions or Respondent was responsible or liable for the alleged losses of CBMF or Respondent indulged in direct or indirect lending or underwriting etc. Nothing has been brought to our notice that Respondent had committed any similar offence earlier or later, in view of the fact that the matter relates to Financial Year 1991-1992. Almost 21 years have passed since the report was received from the Disciplinary Committee. The information relates to Financial Year 1991-92 and the Institute received it in 1995. The fact that the pendency of this Reference itself would have been like the proverbial Damocles sword hanging over the head of Respondent for about 30 years and in view of the fact that Mr. Mehta has given an undertaking on instructions as recorded, there is no need to take any further action against Mr. Salivati. It is directed that the proceedings be filed by the Institute - Reference disposed.
|