Satyabrata Sinha, J. : This reference has been made under section 21 of the Chartered Accountants Act, 1949 (hereinafter referred to and called for the :sake of brevity as 'the Act') for directing imposition of a punishment of reprimand to the respondent No. 1 herein. The 1st respondent is a member of the Institute of Chartered Accountant. A compliant was made by Sri C.R.Das, Regional Director, Company Law Board, Calcutta, a copy whereof is contained in Annexure 'A' to the application, the relevant portion whereof reads thus :-

"Opening and Closing Stock of tea, as well as turnover of tea are not correctly reflected in the Profit & Loss Accounts and/or Notes on Accounts for the years 1982, 1983 and 1984-Failure on the part of Auditors to bring out these material discrepancies in his reports on the relevant years' Accounts-violation of section 21(5) and section 22 of the Chartered Accountants Act, 1949 under clauses (7) and (8) of the Second Schedule-Part I read with Regulation 12 of the Chartered Accountants Regulations, 1988.

Material details to these effects have already found place in the Show Cause Notice dated 1.1.1990 to the Auditors, and so also, in the relevant e