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2017 (2) TMI 745 - HC - Indian LawsMisconduct of Chartered Accountant - director of a company without the permission of the Council - Held that:- In the instant case the admitted position is that the respondent is registered with the Council to practice as a Chartered Accountant. He cannot be a director of a company without the permission of the Council. The appellant is the promoter of various companies of which he is a director as per the evidence on record. Being a Chartered Accountant the respondent cannot actively carry on business through companies, trusts and firms. There is evidence that the respondent is doing so. Affirming the verdict of guilt and keeping in view the gravity of the misconduct we answer the reference by imposing the penalty of removal of respondent’s name from the Register of Members of the Institute of Chartered Accountants for a period of two years.
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