( 1 ) THE appellant-Institute of Chartered Accountants of India (for short the ICAI) has filed this appeal against the order dated 15-9-2000 passed by the learned single Judge in W. P. No. 37189/1995.

( 2 ) THE necessary facts in brief are that a complaint was filed by the 2nd respondent before the appellant alleging that the 1st respondent-petitioner accepted the statutory auditorship of a company viz. , M/s. Navabharath Flange and Allied Industries ltd. , Bombay without ascertaining compliance of Sections 224 and 225 of the Companies act, 1956 (for short the Act) and without issuing a registered notice to the 2nd respondent. On a complaint, the ICAI referred the matter to the Disciplinary Committee to hold enquiry, and the Disciplinary authority after hearing the parties was of the view that the 1st respondent-petitioner had complied with the requirements under the Chartered Accountants Act, 1949 (for short the CA Act) and his conduct was totally bona fide, and that the lapse, if any, was on the part of the company as it did not comply with the cifcular of the Company Law board, and concluded that the 1st respondent-petitioner was not guilty of any professional misconduct under C

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