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PRATHIBA M. SINGH
Mohit Bansal – Appellant
Versus
Institute of Chartered Accountants of India – Respondent
JUDGMENT :
PRATHIBA M. SINGH, J.
1. The Petitioner- Mohit Bansal, is a qualified Chartered Accountant (hereinafter “CA”), enrolled with the Respondent No. 1 – Institute of Chartered Accountants of India (hereinafter, “ICAI”) since 25th January 2008.
2. The ICAI issued a notice dated 25th June 2018, to show cause as to why action under Section 8 of the Chartered Accountants Act, 1949 (hereinafter, “Act”) should not be taken against the Petitioner in view of his conviction by the Delhi High Court under Sections 354 and 506-II of the Indian Penal Code 1860. The operative portion of the said notice reads as under:
However it has been noticed that vide the same judgment, the Hon’ble Delhi High Court has convicted you under another Section 354 of the Indian Penal Code, 1860, i.e., ‘Assault or criminal force to woman
A person who is sought to be removed due to a conviction of an offence involving ‘moral turpitude’ under Section 8(v) of Act. It is only when there are allegations of professional or other misconduct....
Professional misconduct under the Chartered Accountants Act includes gross negligence in duties, requiring due diligence in verification of financial documents.
The court upheld the validity of the Guidelines limiting tax audits by Chartered Accountants, finding them reasonable and in the public interest, thus not violating Article 19(1)(g) of the Constituti....
The main legal point established in the judgment is that the issuance of a false and misleading search report by a Chartered Accountant does not necessarily constitute professional misconduct under t....
Disciplinary proceedings against a professional cannot proceed without clearly defined charges, especially when criminal proceedings are ongoing; failure to follow natural justice principles renders ....
Disciplinary proceedings against a Chartered Accountant must adhere to principles of natural justice and be based on clear evidence; arbitrary conclusions without cogent reasoning are invalid.
The Council must independently assess findings from a Disciplinary Committee regarding professional misconduct, ensuring proper application of mind and consideration of all representations before mak....
The court upheld the disciplinary action against a Chartered Accountant for misconduct, emphasizing the need for integrity and professional standards in the profession.
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