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DHIRAJ SINGH THAKUR, VALMIKI SA MENEZES
Institute Of Chartered Accountant Of India, Indraprastha Marg, New Delhi – Appellant
Versus
Nitin D. Desai – Respondent
JUDGMENT
Valmiki Sa Menezes, J. - This is a reference made to this Court under Section 21(5) of the Chartered Accountants Act, 1949 (for short 'the Act') by the Institute of Chartered Accountants of India, New Delhi, (for short 'the Institute') for necessary orders to be passed in terms of Sub-Section 6 of Section 21 thereof.
2. It is the case of the petitioner that it received a complaint dated 11.01.1999 from one Santosh Kumar Surajbhan Goel from Pune alleging that the respondent Shri Nitin D. Desai, a Chartered Accountant registered with the Institute, had written a letter to members of the Poona Club Ltd., soliciting their clientele in the guise of canvassing for votes during the said club's Executive Committee elections.
It was the complainant's allegation that the respondent, under the guise of soliciting votes for his candidature to the post of Officer Bearer of the Executive Committee of the said club, had represented to members of that club that he was a proprietor of M/s. D.S. Desai and Company Limited, claiming that his firm has rendered dedicated services to several corporate clients whose names were stated in the said letter ; that the respondent had, by the said letter,
Chartered accountants must exercise due diligence and integrity in their professional duties, and failure to do so constitutes professional misconduct under the Chartered Accountants Act, 1949.
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Professional misconduct under the Chartered Accountants Act includes gross negligence in duties, requiring due diligence in verification of financial documents.
The main legal point established in the judgment is that while the respondent was found guilty of professional misconduct, the court considered the respondent's long-standing membership and lack of p....
The main legal point established in the judgment is the limited scope of judicial review under Article 226 of the Constitution of India in disciplinary matters, emphasizing that the review is to ensu....
The power of judicial review under Article 226 of the Constitution of India is to ensure that the processes are in consonance with the statute and rules in force, but not to adjudicate disputed issue....
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