JUDGMENT

Suresh Kait, J. (Oral)

1. This reference under Section 21(5) of the Chartered Accountants Act, 1949 (hereinafter referred to as Act) in pursuance of report dated 14.05.2005 of Disciplinary Committee of the Institute of Chartered Accountants, the Council of the Institute under Section 21 of the Act has decided to recommend to this court that the respondent be removed from the register of Members for a period of two years, for confirming the punishment under Section 21(6) by this court in respect of Kulrattan Bhasin, CA, New Delhi (hereinafter referred to as respondent).

2. Sh.Shyam Mohan, Manager of AMU, ANZ Grindlays Bank, New Delhi (hereinafter referred to as the complainant) had made complaint against the respondent as under:

"1.2 The Complainant-bank sanctioned a loan of Rs.1,84,000/- on the request of the Respondent relying on the bonafides and authenticity of the income-tax returns submitted by the Respondent to the complainant-bank which were forged and fabricated. The Respondent intentionally submitted the forged and fabricated income-tax returns to induce the Complainant-bank to extend loan to him. Later, the Income Tax Authorities have confirmed that the said