S. MURALIDHAR, J.

( 1 ) THIS reference under Section 21 (5) of the Chartered Accountants Act, 1949 ('act') has been made by the Council of the Institute of Chartered accountants of India ('icai') in respect of Shri Deepak Parti, Chartered accountant, Delhi.

( 2 ) IN the Statement of Case it is stated that a complaint against Shri deepak Parti was made by Mrs. Lakshmi Rani Hazra, Kolkata in which, inter alia, it was stated that Shri Deepak Parti was Vice Chairman of a non-banking financial company known as M/s. Schematic Finance Ltd. ('sfl') in which the complainant and her son had made investment in a Super Flexi Note Scheme for 31 to 91 days. The cheques issued by SFL were returned dishonoured by the banks because of the withdrawal 'at Par Facility' from 7. 2. 1998 onwards. It appears that SFL closed down its Calcutta Branch Office and the cheques issued remained uncashed. Despite assurance from SFL that the money would be returned and payment would start from December, 1999, no money was received by the said complainant. It was further stated in the complaint that Shri Deepak Parti continued to use the CARE's highest safety rating in the application form issued by SFL despite t

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