ICAI Removes Names of 8 Chartered Accountants from Members Register on Guilty of Professional Misconduct

ICAI Removes Names of 8 Chartered Accountants from Members Register on Guilty of Professional Misconduct The Institute of Chartered Accountants of India [ICAI] has removed names of 7 Chartered Accountants form members register. The Disciplinary committee of the Institute of Chartered Accountants of India (ICAI) has found 7 Chartered Accountants guilty of professional misconduct. Names of the 7 Members has been removed from the Register along with the Fine. Disciplinary Committee has held CA. Samaba Siva Rao M (Membership No. 021858), 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 ordered for removal of name of CA. Samaba Siva Rao M (Membership No. 021858) 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) to be paid within a period of 3 (three) months and in case of default in payment of fine within stipulated time, his name be removed for additional period of 1(one) month.  It is hereby notified that the name of CA. Samaba Siva Rao M (Membership No. 021858) shall stand removed from the Register of Members for a period of 1(one) month with effect from 20th January, 2022.   Disciplinary Committee has held CA. Baddakoti Chinnappa Gowda (Membership No. 204458), guilty of ‘Other Misconduct’ falling within the meaning of Clause (2) of Part IV of First Schedule to the aforesaid Act and consequently ordered for removal of name of CA. Baddakoti Chinnappa Gowda (Membership No. 204458) 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) to be paid within a period of 3 (three) months and in case of default in payment of fine within stipulated time, his name be removed for additional period of 1(one) month. It is hereby notified that the name of said CA. Baddakoti Chinnappa Gowda (Membership No. 204458), shall stand removed from the Register of Members for a period of 01(one) month with effect from 20th January, 2022.   Disciplinary Committee has held CA. Rajagopalan Vedanarayanan (Membership No. 029472), guilty of Professional and Other Misconduct falling within the meaning of Item (7) of Part I of Second Schedule and Item (2) of Part IV of First Schedule to the aforesaid Act and consequently ordered for removal of name of CA. Rajagopalan Vedanarayanan (Membership No. 029472) from the Register of Members for a period of 06 (Six) months and also imposed a fine of Rs. 1,00,000/- (Rupees One Lakh only) to be paid within a period of 3 (three) months and in case of default in payment of fine within stipulated time, his name be removed for additional period of 1(one) month. It is hereby notified that the name of CA. Rajagopalan Vedanarayanan (Membership No. 029472) shall stand removed from the Register of Members for a consolidated period of 7(Seven) months [06(Six) months plus additional 1(one) month] with effect from 20th January, 2022.   Disciplinary Committee has held CA. Devki Nandan Gupta (Membership No. 052634), guilty of Professional Misconduct falling within the meaning of Clause (7) of Part I of th  Second Schedule to the aforesaid Act and consequently ordered for removal of the name of aforesaid CA. Devki Nandan Gupta (Membership No. 052634) 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). However, the punishment awarded by the Disciplinary Committee has been modified by the Appellate Authority vide its order dated 14th June, 2021 in Appeal no.  5/ICAI/2020 by reducing the period of removal from two years to one year with a fine of Rs. 1,00,000/- (Rupees One Lakh Only). It is hereby notified that the name of said CA. Devki Nandan Gupta (Membership No. 052634) shall stand removed from the Register of Members for a period of 01(One) year with effect from 20th January, 2022.   Disciplinary Committee has held CA. Rajendra Nath Bhar (Membership No. 052197), guilty of Professional and Other Misconduct falling within the meaning of Clause (2) of Part IV of the First Schedule and Clause (7) of Part I of the Second Schedule to the aforesaid Act and consequently ordered for removal of the name of aforesaid CA. Rajendra Nath Bhar (Membership No. 052197) from the Register of Members for a period of 06(Six) months. It is hereby notified that the name of CA. Rajendra Nath Bhar (Membership No. 052197) shall stand removed from the Register of Members for a period of 06(Six) months with effect from 20th January, 2022.   Disciplinary Committee has held CA. Lalith Kumar A (Membership No. 212155), guilty of Professional Misconduct falling within the meaning of Clause (7) of Part I and Clause (1) of Part II of Second Schedule to the aforesaid Act and consequently ordered for removal of name of CA. Lalith Kumar A (Membership No. 212155) from the Register of Members for a period of 01(One) month and also imposed a fine of Rs. 20,000/-(Rupees Twenty Thousand only) to be paid within a period of 3 (three) months and in case of default in payment of fine within stipulated time, his name be removed for additional period of 1(one) month. It is hereby notified that the name of CA. Lalith Kumar A (Membership No. 212155) shall stand removed from the Register of Members for a consolidated period of 2(Two) months [01(One) month plus additional 1(one) month] with effect from 20th January, 2022.   Disciplinary Committee has held CA. Krishan Kumar Singhal (Membership No. 050140), guilty of Professional Misconduct falling within the meaning of Clause (7) of Part I of the Second Schedule to the aforesaid Act and consequently ordered for removal of the name of aforesaid CA. Krishan Kumar Singhal (Membership No. 050140) from the Register of Members for a period of 03(Three) years and also imposed a fine of Rs. 1,00,000/-(Rupees One Lakh only). The same is also upheld by the Appellate Authority vide judgment pronounced on 11th January, 2022. It is hereby notified that the name of CA. Krishan Kumar Singhal (Membership No. 050140) shall stand removed from the Register of Members for a period of 03(Three) years with effect from 20th January, 2022.   Disciplinary Committee has held CA. Jala Durga Srinivas Kambhampati (Membership No. 200487), guilty of Professional Misconduct falling within the meaning of Clause (7) of Part I of Second Schedule to the aforesaid Act and consequently ordered for removal of name of CA. Jala Durga Srinivas Kambhampati (Membership No. 200487) from the Register of Members for a period of 03(Three) months and also imposed a fine of Rs. 50,000/-(Rupees Fifty Thousand only) to be paid within a period of 3 (Three) months and in case of default in payment of fine within stipulated time his name be removed for additional period of 1(one) month. It is hereby notified that the name of CA. Jala Durga Srinivas Kambhampati (Membership No. 200487) 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 20th January, 2022.