Economy

ICAI takes action against 22 CAs

KR Srivats New Delhi | Updated on October 24, 2021

Action is part of the professional body’s disciplinary mechanism against erring members

The CA Institute has removed the names of 22 Chartered Accountants from its list of members as part of its disciplinary action against erring members.

The period of removal ranges from 15 days to five years, depending on the nature of professional misconduct, sources said. These CAs can still prefer an appeal before the respective appellate forums.

“There may not be any bunching. This is an outcome of the regular disciplinary cases that are heard. All these 22 actions relate to different cases for different periods and decisions taken by different Benches,” said Nihar Jambusaria, President, Institute of Chartered Accountants of India (ICAI). For last three years, the CA Institute has been focussing on disposing cases, and the disciplinary mechanism has been smoothly functioning, he added.

During the current council year 2021-22, there are four Benches of the disciplinary committee – Bench I, Bench II, Bench III and one Bench of the Board of Discipline. In addition, there is also a disciplinary committee headed by ICAI President that has been constituted to look into any residual old cases that are referred back.

As on date, all residual cases under the old disciplinary mechanism stand heard and concluded, barring one which is pending on account of stay granted by the Court.

The meetings of the Board of Discipline and Benches of Disciplinary committee are now being held through video conferencing, apart from the physical meetings. A separate Web portal for the Disciplinary Directorate has been developed and made live with all relevant information at one place.

The CA Institute’s disciplinary mechanism functions through its two quasi-judicial arms constituted under the provisions of the Chartered accountants (amendment) Act 2006 – Board of Discipline and Disciplinary Committee.

Published on October 24, 2021

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