ICAI Removes Names of 3 Chartered Accountants from Members Register on Guilty of Professional Misconduct

ICAI Removes Names of 3 Chartered Accountants from Members Register on Guilty of Professional Misconduct The disciplinary Committee of the Institute of Chartered Accountants of India [ICAI] has removed the names of 3 Chartered Accountants from the member's register. The Disciplinary Committee of the Institute of Chartered Accountants of India (ICAI) has found 3 Chartered Accountants guilty of professional misconduct. The names of the 3 Members has been removed from the Register along with the Fine. Below are the Details of the Misconduct and the period from which the names of all three Chartered Accountants have been removed. Disciplinary Committee has held CA. Lakshmi Purna Chandra Rao Chella(M.No. 221392), 25/7 LIG, KPHB, Phase IV, Kukatpally, HYDERABAD 500 072, guilty of Professional Misconduct falling within the meaning of Clause (2) of Part III of First Schedule and Clauses (7) & (8) of Part I of Second Schedule to the aforesaid Act and consequently ordered for removal of the name of aforesaid CA. Lakshmi Purna Chandra Rao Chella(M.No. 221392) from the Register of Members for a period of 02(Two) years and also imposed a fine of Rs. 50,000/-(Rupees Fifty Thousand only) to be paid within 3 (three) months and in case of default in payment of fine within stipulated time his name be removed for further period of 1(one) month. Since, the Respondent has failed to deposit the imposed fine as stipulated, in pursuance of the aforesaid Order of the Disciplinary Committee and in exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, read with Regulation 18 of the Chartered Accountants Regulations 1988, it is hereby notified that the name of said CA. Lakshmi Purna Chandra Rao Chella(M.No. 221392, shall stand removed from the Register of Members for a consolidated period of 02(two) years and 01(one) month with effect from 29th March, 2022 Disciplinary Committee has held CA. Kirit Kumar Ramanlal Shah (Membership No. 034612), B-4, Vardhmankrupa Row House, Opposite Satadhar Cross Road, AHMEDABAD- 380 061, guilty of Professional and Other Misconduct falling within the meaning of Clause (2) of Part IV of First Schedule and Clauses (7) and (8)of Part I of the Second Schedule to the aforesaid Act and consequently ordered for removal of the name of aforesaid CA. Kirit Kumar Ramanlal Shah (Membership No. 034612) from the Register of Members for a period of 18(eighteen) months. In pursuance of the aforesaid Order of the Disciplinary Committee and in exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, read with Regulation 18 of the Chartered Accountants Regulations, 1988, the name of said CA. Kirit Kumar Ramanlal Shah (Membership No. 034612) was removed from the Register of Members for a period of 18(eighteen) months with effect from 10th May, 2019. Subsequently, the Respondent approached the Appellate Authority in terms of Section 22G of the Chartered Accountants Act, 1949 and the Appellate Authority in appeal no. 09/ICAI/2019 vide its order dated 7th June, 2019 had set aside the Impugned order and remanded back the matter to the Disciplinary Committee. Accordingly, in pursuance of the said order of the Appellate Authority, name of the Respondent was restored. In view of the order of the Appellate Authority, the Disciplinary Committee reconsidered the matter and held the Respondent Guilty of Professional and Other Misconduct falling within the meaning of Clause (2) of Part IV of First Schedule and Clauses (7) and (8)of Part I of the Second Schedule to the aforesaid Act and vide its Order dated 20th August, 2019 ordered that the name of the Respondent be removed for a period of 18(Eighteen) months. In pursuance thereof and in exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, read with Regulation 18 of the Chartered Accountants Regulations, 1988, it is hereby notified that the name of said CA. Kirit Kumar Ramanlal Shah (Membership No. 034612), shall stand removed from the Register of Members for a period of 18(eighteen) months with effect from 29th March 2022. Disciplinary Committee has held CA. Ghanta Venkateswara Rao (M.No. 216153), 503, B-Block, Raghava Ratna Towers, Near Medwin Hospitals, HYDERABAD 500 001, guilty of Professional Misconduct falling within the meaning of Clauses (6) & (7) of Part I of the Second Schedule to the aforesaid Act and consequently ordered for the removal of the name of aforesaid CA. Ghanta Venkateswara Rao (M.No. 216153) from the Register of Members for a period of 02(Two) years and also imposed a fine of Rs. 50,000/-(Rupees Fifty Thousand only) to be paid within 3 (three) months and in case of default in payment of the fine within the stipulated time his name be removed for a further period of 1(one) month. Since, the Respondent has failed to deposit the imposed fine as stipulated, in pursuance of the aforesaid Order of the Disciplinary Committee and in the exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, read with Regulation 18 of the Chartered Accountants Regulations 1988, it is hereby notified that the name of said CA. Ghanta Venkateswara Rao (M.No. 216153), shall stand removed from the Register of Members for a consolidated period of 2(two) years and 01(one) month with effect from 29th March, 2022.