ICAI Takes Disciplinary Action against 2 CAs for Professional Misconduct [Read Notification]
ICAI suspends two Chartered Accountants for up to nine months over professional misconduct
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The Institute of Chartered Accountants of India (ICAI) has taken strict disciplinary action against two of its members, suspending them from practice for varying durations following findings of professional and other misconduct. One-Month Suspension in First Case In the first case, the Disciplinary Committee found the member guilty of professional and other misconduct under the provisions...
The Institute of Chartered Accountants of India (ICAI) has taken strict disciplinary action against two of its members, suspending them from practice for varying durations following findings of professional and other misconduct. One-Month Suspension in First Case
In the first case, the Disciplinary Committee found the member guilty of professional and other misconduct under the provisions of Item (7) of Part I of the Second Schedule and Item (2) of Part IV of the First Schedule to the Chartered Accountants Act, 1949. After providing the member an opportunity to be heard, ICAI has ordered a suspension from the Register of Members for a period of one month, effective from April 17, 2025​.
In another case, another member was penalized in two independent cases:
- In the first matter, the member was found guilty under multiple items: Item (2) of Part IV of the First Schedule, Item (7) of Part I, and Item (1) of Part II of the Second Schedule. This led to a three-month suspension and a fine of Rs. 50,000.
- In the second matter, the member was found guilty under Item (7) of Part I of the Second Schedule and received an additional six-month suspension.
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The ICAI clarified that the two penalties will run consecutively, resulting in a total suspension period of nine months, beginning April 17, 2025​.
These decisions were issued under Section 21B(3) of the Chartered Accountants Act, 1949, and the relevant disciplinary rules framed under it. ICAI has reaffirmed that disciplinary integrity remains at the core of its mission, and it will not hesitate to act firmly when professional standards are breached.
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CA (Dr.) Jai Kumar Batra, Secretary of ICAI, formally notified the actions through The Gazette of India.
To Read the full text of the Notification CLICK HERE
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