The Institute of Chartered Accountants of India (ICAI) has issued three notifications whereby the Institute removed three Chartered Accountants from the register for professional misconduct.
In the first notification, CA. Ghanta Venkateswara Rao was removed 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. 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,” the notification said.
The second notification stated that the name of said CA. Kirit Kumar Ramanlal Shah shall stand removed from the Register of Members for a period of 18(eighteen) months with effect from 29th March, 2022.
In the third notification, CA. Lakshmi Purna Chandra Rao Chella 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 was therefore, 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.”
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