Arijit Pasayat, C.J.

This is a reference under S.21 of the Chartered Accountants Act,1949(in short' the Act'). Brief facts necessary for disposal of the same are as follows: Alleging misconduct on the part of M/s. Mani Abraham & Associates (hereinafter referred to as the' auditors') a complaint was made by the State Bank of Travancore (hereinafter referred to as the 'complainant'), before the Council of the Institute of Chartered Accountants of India, in short the Institute. Allegation was that there was disclosure of information acquired in the course of professional engagement, without consent of the complainant to third parties. In response to Institute's querry auditors replied that M.S. Abraham (hereinafter referred to as 'as respondent') was answerable. This according to the complainant was misconduct in terms of clause (1) of Part I of the Second Schedule to the Act. It was alleged that the auditors were appointed as statutory branch auditors of Thiruvalla Branch of State Bank of Travancore for the years ending on 31.12.1985, and 31.12.1986. During the course of audit, the respondent had access to certain documents. Communications were made to several persons incl