Ministry : Institute of Chartered Accountants of India (Not Applicable)
Part III-Section 4
Subject : Extra Ordinary
Overview [Chartered Accountants Act, 1949 – Disciplinary Action]
This gazette notification announces disciplinary orders issued by the Disciplinary Committee of the Institute of Chartered Accountants of India (ICAI), imposing penalties on a chartered accountant for professional misconduct.
Key Points
- Case 1 (PR/G/47/2022/DD/355/2022/DC/1698/2022):
- Charge: Violation of clauses under First and Second Schedules of the Act.
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Penalty: Removal from the Register of Members for 3 months and a fine of ₹50,000.
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Case 2 (PR/G/27/2022/DD/83/2022/DC/1730/2023):
- Charge: Violation under Second Schedule of the Act.
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Penalty: Removal from the Register of Members for 6 months.
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Consolidated Consequence:
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The two penalties run consecutively, resulting in a total removal period of 9 months, effective from 17 April 2025.
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Authority & Procedure:
- Action taken under Section 21B(3) of the Chartered Accountants Act, 1949, and Rules 18(17) of the 2007 Conduct Rules.
- The member was provided an opportunity to be heard before the order.
Summary
The Gazette of India (Extraordinary) publishes the Disciplinary Committee’s orders holding Chartered Accountant Praveen Murarka guilty of professional misconduct across two separate cases, resulting in a cumulative deregistration period of nine months and a fine. The action, issued under the Chartered Accountants Act, underscores ICAI’s enforcement of professional standards and regulatory compliance, with immediate effect from April 17, 2025.
