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Studycafe Admin | Jan 12, 2022 | Views 447126

ICAI Removes Names of 6 Chartered Accountants from Members Register on Guilty of Professional Misconduct

ICAI Removes Names of 6 Chartered Accountants from Members Register on Guilty of Professional Misconduct

The Institute of Chartered Accountants of India [ICAI] has removed names of 6 Chartered Accountants form members register. The Disciplinary committee of the Institute of Chartered Accountants of India (ICAI) has found 6 Chartered Accountants guilty of professional misconduct. Names of the 6 Members has been removed from the Register along with the Fine.

Disciplinary Committee has held CA. Dwarkanath R T  guilty of Professional Misconduct falling within the meaning of Clause (1) of Part II of Second Schedule to the aforesaid Act and consequently ordered for imposing a fine of Rs. 1000/- for each case of audit conducted in excess of the number stipulated in the Guidelines which aggregated to Rs. 3,51,000/- only which was payable within 3 (three) months from the date of receipt of the said order. The Disciplinary Committee further ordered that if the CA. Dwarkanath R T fails to deposit the fine within the stipulated time i.e. 3 (three) months, his name be removed from the Register of Members for a period of 01 (One) month. Since, the CA. Dwarkanath R T  has failed to deposit the imposed fine as stipulated, the name CA. Dwarkanath R T shall stand removed from the Register of Members for a period of 01 (One) month with effect from 11th January, 2022

Disciplinary Committee has held CA. Kamalay Krishna Rao, guilty of Professional Misconduct falling within the meaning of Clause (1) of Part II of Second Schedule to the aforesaid Act and consequently ordered for imposing a fine of Rs. 1000/- for each case of audit conducted in excess of the number stipulated in the Guidelines which aggregated to Rs. 4,26,000/- which was payable within 3 months from the date of receipt of the said order. The Disciplinary Committee further ordered that if the CA. Kamalay Krishna Rao, fails to deposit the fine within the stipulated time i.e. 3(three) months, his name be removed from the Register of Members for a period of 01 month. Since, CA. Kamalay Krishna Rao, has failed to deposit the imposed fine as stipulated, the name of said CA. Kamalay Krishna Rao shall stand removed from the Register of Members for a period of 01(One) month with effect from 11th January, 2022.

Disciplinary Committee has held CA. Venkat Narayan Vedantam guilty of Professional Misconduct falling within the meaning of Items (2),(7) & (8) of Part I of Second Schedule to the aforesaid Act and consequently ordered for removal of the name of aforesaid CA. Venkat Narayan Vedantam 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 3(three)months and in case of default in payment of fine within stipulated time his name be removed for additional 1(one) month period. Since the CA. Venkat Narayan Vedantam failed to pay the imposed fine within stipulated time the name of said CA. Venkat Narayan Vedantam shall stand removed from the Register of Members for a consolidated period of 4 (Four) months [03 (three) months plus additional 1 (one) month] with effect from 11th January, 2022.

Disciplinary Committee has held CA. Sreenivasa G guilty of Professional Misconduct falling within the meaning of Clause (1) of Part II of Second Schedule to the aforesaid Act and consequently, ordered for imposing a fine of Rs. 1000/- for each case of audit conducted in excess of the number stipulated in the Guidelines not exceeding Rs. 5,00,000 in aggregate, which was payable within 3 months from the date of receipt of the said order. The Disciplinary Committee further ordered that if the Respondent, CA. Sreenivasa G fails to deposit the fine within the stipulated time i.e. 3 (three) months, his name should be removed from the Register of Members for a period of 01(One) month. Since, the Respondent has failed to deposit the imposed fine as stipulated, name of said CA. Sreenivasa G shall stand removed from the Register of Members for a period of 01 month with effect from 11th January, 2022

Disciplinary Committee has held CA. Deepak Kedia, guilty of Professional Misconduct falling within the meaning of Clause (1) of Part II of Second Schedule to the aforesaid Act and consequently ordered for imposing a fine of Rs. 1000/- for each case of audit conducted in excess of the number stipulated in the Guidelines which aggregates to Rs. 4,72,000/- (Rupees Four Lakhs Seventy Two Thousand only) which was payable within 3 months from the date of receipt of the said order. The Disciplinary Committee further ordered that if the Respondent, CA. Deepak Kedia, fails to deposit the fine within the stipulated time i.e. 3 months, his name should be removed from the Register of Members for a period of 01(One) month. Since, the name of said CA. Deepak Kedia, shall stand removed from the Register of Members for a period of 01(One) month with effect from 11th January, 2022.

Disciplinary Committee has held CA. Kantipudi V V Rameshbabu, guilty of Professional Misconduct falling within the meaning of Clause (1) of Part II of Second Schedule to the aforesaid Act and consequently ordered for imposing a fine of Rs. 1000/- for each case of audit conducted in excess of the number stipulated in the Guidelines which aggregates to Rs. 3,73,000/- (Rupees Three Lakhs Seventy Three Thousand) only which was payable within 3 months from the date of receipt of the said order. The Disciplinary Committee further ordered that if the Respondent, CA. Kantipudi V V Rameshbabu, fails to deposit the fine within the stipulated time i.e. 3(three) months, his name be removed from the Register of Members for a period of 01(One) month. Since, the Respondent the name of said CA. Kantipudi V V Rameshbabu shall stand removed from the Register of Members for a period of 01(One) month with effect from 11th January, 2022.

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