CA Professional Misconduct: ICAI removes Membership of Chartered Accountant [Read Notification]

CA Professional Misconduct - ICAI - Membership of Chartered Accountants - Taxscan

The Institute of Chartered Accountants of India (ICAI) has notified the removal of Membership of Chartered Accountants due to  Professional Misconduct.

In terms of the provisions of Section 21B(3) of the Chartered Accountants Act, 1949 read with Rules 18(17) and 19(1) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Disciplinary Committee has held CA. Muthukumaran Jayaraman (Membership No. 207004) guilty of Professional Misconduct falling within the meaning of Item (7) of Part I of Second Schedule to the aforesaid Act and consequently ordered for removal of name of CA. Muthukumaran Jayaraman (Membership No. 207004) from the Register of Members for a period of 01(One) year and also imposed a fine of Rs. 1,00,000/- only to be paid within 3 months and in case of default in payment of fine within stipulated time, his name be removed for additional 1 month period.

Since the Respondent had failed to pay the imposed fine within stipulated time, 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. Muthukumaran Jayaraman (Membership No. 207004), shall stand removed from the Register of Members for a consolidated period of 13 months [01 year plus additional 1 month] with effect from 14th February, 2022.

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