Recently the Institute of Chartered Accountants of India ( ICAI ) took strict action against three Chartered Accountants (CA) when found them to be professionally misconducting.
Also, the ICAI took the penalty fine from the CA. Punit Godawat. As per the Notification, it was stated that “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. Punit Godawat is 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 the removal of the name of aforesaid CA. Punit Godawat from the Register of Members for a period of 03 (three) months and also imposed a fine of Rs. 11,800/- ( Eleven Thousand Eight Hundred) only (including applicable taxes)”
In the further details of the notification, it was mentioned, “In pursuance thereof and in the 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. Punit Godawat shall stand removed from the Register of Members for a period of 03 (three) months with effect from 20th December 2019.”
Read Also : ICAI: CA Extending Services to Networks Not Authorized
While in the separate notification issued it stated that, “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. Kamal Mehta and CA. Abhishek Saxena is 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 the removal of the name of aforesaid CAs from the Register of Members for a period of 01(one) year.”
