Ministry : Institute of Chartered Accountants of India (Not Applicable)

Part III-Section 4

Subject : Extra Ordinary

Overview [Extraordinary Gazette of India: CA Disqualification]

This is an extraordinary issue of the Gazette of India announcing a significant disciplinary action by the Institute of Chartered Accountants of India (ICAI), mandating the removal of a chartered accountant from the membership register.

Key Points

• Action: CA. Akshay Jain (Membership No. 241125) has been found guilty of professional and other misconduct.
• Penalty: His name is removed from the Register of Members for a consolidated period of 5 years and 1 month, effective January 3, 2025.
• Fine: A monetary penalty of ₹5,00,000 was imposed, which was not paid within the stipulated 90-day period, leading to the extended removal.
• Legal Basis: The order is issued under Section 21B(3) of the Chartered Accountants Act, 1949, read with related disciplinary rules.

Summary

The gazette formally declares the removal of chartered accountant CA. Akshay Jain from the ICAI register due to professional misconduct. The order, effective immediately, combines a five-year ban with an additional month of removal for non-payment of the fine, underscoring the regulatory body's strict enforcement of professional standards.