ICAI removes names of 6 CAs from Register of Members for Professional Misconduct

The Institute of Chartered Accountants of India (ICAI) has removed the names of 6 Chartered Accountants (CAs) from the Register of Members and imposed a fine for Professional Misconduct in pursuance of the Order of the Disciplinary Committee of ICAI.

The Text of ICAI notifications is as follows:

In terms of the provisions of Section 21B(3) of the Chartered Accountants Act, 1949 read with Rule 18(17) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Disciplinary Committee has held CA. Paragesh Kishor Joshi (Membership No. 131603), Bhagyada Ankit Residency, Flat No. 1, Vidyanagar Road No. 3, Warnali Road, Vishrambag, SANGLI(Maharashtra) 416415, guilty of Professional Misconduct falling within the meaning of Clauses (5), (6) (7) and (8) of Part I of Second Schedule to the aforesaid Act and consequently after affording an opportunity of being heard in terms of Rule 19(1) of the aforesaid Rules, ordered for removal of name of CA. Paragesh Kishor Joshi (Membership No. 131603) from the Register of Members for a period of 02(Two) years and also imposed a fine of Rs. 1,00,000/-(Rupees One Lakh) only. Aggrieved by Order of the Committee, the Respondent preferred an Appeal (no. 26/ICAI/2021) before the Appellate Authority in terms of Section 22G of the Chartered Accountants Act, 1949 and the Appellate Authority by its order dated 13th November 2023 reduced the period of removal of the name of the Appellant from 2(Two) years to 06 (Six) months alongwith a fine of Rs. 1,00,000 (Rupees One Lakh) only. In pursuance thereof and in the exercise of the powers conferred by subsection (2) of Section 20 of the aforesaid Act, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations, 1988 that the name of CA. Paragesh Kishor Joshi (Membership No. 131603), shall stand removed from the Register of Members for a period of 06 (Six) months with effect from 16th April 2024.

In terms of the provisions of Section 21B(3) of the Chartered Accountants Act, 1949 read with Rule 18(17) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Disciplinary Committee has held CA. Jayanta Bhattacharya (Membership No. 017916), 633, Block O, New Alipore, KOLKATA 700 053, guilty of Professional Misconduct falling within the meaning of Clauses (7), (8) and (9) of Part I of Second Schedule to the aforesaid Act and consequently after affording an opportunity of being heard in terms of Rule 19(1) of the aforesaid Rules, ordered for removal of name of CA. Jayanta Bhattacharya (Membership No. 017916) from the Register of Members for a period of 01 (One) year. Aggrieved by Order of the Committee, the Respondent preferred an Appeal (no. 33/ICAI/2022) before the Appellate Authority in terms of Section 22G of the Chartered Accountants Act, 1949 and the Appellate Authority by its order dated 2nd November 2023 reduced the period of removal of the name of the Appellant from 01(One) year to 03 (Three) months. In pursuance thereof and in the exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations, 1988 that the name of CA. Jayanta Bhattacharya (Membership No. 017916), shall stand removed from the Register of Members for a period of 03(Three) months with effect from 16th April 2024.

In terms of the provisions of Section 21A(3) of the Chartered Accountants Act, 1949 read with sub-rule (9) of Rule 14 of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Board of Discipline has held CA. Vinay Kumar Seth(M. No. 406625), 24/73-76, Kishori Niwas, Birhana Road, KANPUR(Uttar Pradesh) 208001, guilty of ‘Other Misconduct’ falling within the meaning of Item (2) of Part IV of the First Schedule to the Chartered Accountants Act, 1949 read with Section 22 of the said Act and consequently after affording an opportunity of being heard in terms of Rule 15(1) of the aforesaid Rules ordered for removal of the name of CA. Vinay Kumar Seth(M. No. 406625) from the Register of Members for a period of 01 (One) month. In pursuance thereof and in the exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations, 1988 that the name of CA. Vinay Kumar Seth (M. No. 406625) shall stand removed from the Register of Members for a period of 01(One) month with effect from 16th April 2024.

In terms of the provisions of Section 21A(3) of the Chartered Accountants Act, 1949 read with sub-rule (9) of Rule 14 of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Board of Discipline has held CA. Avadhoot Ramesh Asaikar (M. No. 102887), 65/20 1st Floor, Krutanjali, Shangrilla Restaurant Lane, Law College Road, PUNE(Maharashtra) 411004, guilty of ‘Other Misconduct’ falling within the meaning of Item (2) of Part IV of the First Schedule to the Chartered Accountants Act, 1949 read with Section 22 of the said Act and consequently after affording an opportunity of being heard in terms of Rule 15(1) of the aforesaid Rules ordered for removal of the name of CA. Avadhoot Ramesh Asaikar (M. No. 102887) from the Register of Members for a period of 01(One) month and also imposed a Fine of Rs. 50,000/- (Rupees Fifty Thousand) only. In pursuance thereof and in the exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations, 1988 that the name of CA. Avadhoot Ramesh Asaikar (M. No. 102887) shall stand removed from the Register of Members for a period of 01(One) month with effect from 16th April 2024.

In terms of the provisions of Section 21A(3) of the Chartered Accountants Act, 1949 read with sub-rule (9) of Rule 14 of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Board of Discipline has held CA. Musalaiah Penagaluri(M. No. 023675), C-26-108, Jayanagar Colony, KADAPA(Andhra Pradesh) 516002, guilty of ‘Other Misconduct’ falling within the meaning of Item (2) of Part IV of the First Schedule to the Chartered Accountants Act, 1949 read with Section 22 of the said Act and consequently after affording an opportunity of being heard in terms of Rule 15(1) of the aforesaid Rules ordered for removal of the name of CA. Musalaiah Penagaluri(M. No. 023675) from the Register of Members for a period of 01(One) month. In pursuance thereof and in the exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations, 1988 that the name of CA. Musalaiah Penagaluri(M. No. 023675) shall stand removed from the Register of Members for a period of 01(One) month with effect from 16th April, 2024.

In terms of the provisions of Section 21B(3) of the Chartered Accountants Act, 1949 read with Rule 18(17) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Disciplinary Committee has held CA. Surajit Datta (Membership No. 061755), Shop no. 14, Block F, Commercial Sugam Park. 195, N S Road, KOLKATA(West Bengal) 700103, guilty of Professional Misconduct falling within the meaning of Item (1) of Part II of Second Schedule and “Other Misconduct’ falling within the meaning of Item (2) of Part IV of the First Schedule to the aforesaid Act and consequently after affording an opportunity of being heard in terms of Rule 19(1) of the aforesaid Rules, ordered for removal of name of CA. Surajit Datta (Membership No. 061755) from the Register of Members for a period of 03(Three) months and also imposed a fine of Rs. 25,000 (Rupees Twenty-Five Thousand) only to be paid within 90 days of receipt of the Order and in case of default in payment of fine within stipulated time, his name be removed for an additional period of 1(One) month. Since the Respondent has failed to pay the imposed fine within stipulated time, 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, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations 1988, that the name of CA. Surajit Datta (Membership No. 061755), shall stand removed from the Register of Members for a consolidated period of 04(Four) months [03(Three) months plus additional 01(one) month] with effect from 16th April, 2024.

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