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2018 (5) TMI 733 - Other - Companies LawProfessional misconduct in relation to Company Secretaries in Practice - quantum of punishment - Held that:- Disciplinary Committee has taken a different view in this case though the nature of professional misconduct relates to certification of Forms. After perusing all, we are of the considered view that punishment awarded to the Appellant in the present matter is certainly on the higher side, enormous and harsh in comparison with the punishment awarded to the errant members of the Institute by the Disciplinary Committee for the violation of same professional misconduct in other cases. The interest of justice will be met out by reducing the punishment awarded to the Appellant. Therefore, in exercise of the powers conferred on this Authority under clause (b) of sub- section (2) of Section 22E of the Company Secretaries Act, 1980, we hereby reduce the punishment awarded and the fine imposed on the Appellant by the Disciplinary Committee of the Institute and passes the following order in this regard. Reprimand and fine of ₹ 50000/- payable within sixty days from the date of issue of this Order and in case of failure of the Appellant to pay the fine of ₹ 50000/- within the stipulated time, his name shall be removed from the Register of Members of the Institute for a period of one month, after sixty days from the date of issue of this order.
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