Ministry : Institute of Chartered Accountants of India (Not Applicable)
Part III-Section 4
Subject : Extra Ordinary
Overview [The Gazette of India: Extraordinary]
This is an extraordinary issue of The Gazette of India, published by authority, specifically Part III, Section 4. It contains official notifications from the Institute of Chartered Accountants of India (ICAI) regarding professional disciplinary actions.
Key Points
- Action Taken: The Disciplinary Committee found CA. Anand Kumar Jhunjhunwala (Membership No. 056613) guilty of professional misconduct under Items (5) and (7) of the Second Schedule to the Chartered Accountants Act, 1949.
- Penalties Imposed: Removal of his name from the Register of Members for a period of 3 years, along with a fine of ₹5,00,000/-.
- Payment Default: The removal penalty is set to run for an additional 1 month (total 3 years and 1 month) due to his failure to pay the imposed fine within the stipulated 90-day period.
- Order Date: The underlying disciplinary order was passed on January 3, 2025.
- Legal Basis: The action is taken under Section 21B(3) of the Chartered Accountants Act, 1949, read with Rule 18 of the Chartered Accountants (Procedure of Investigations) Rules, 2007.
Summary [The Gazette of India: Extraordinary]
This gazette notification details the formal disciplinary action against chartered accountant CA. Anand Kumar Jhunjhunwala for professional misconduct. The ICAI's Disciplinary Committee has ordered his removal from the membership register for 3 years and 1 month and imposed a fine of ₹5 lakh, which he failed to pay within the deadline, triggering the extended removal period. This action, effective January 3, 2025, underscores the regulatory enforcement of professional conduct within the chartered accountancy profession in India.
