ORDER :- This is a revision petition preferred by the Union of India represented by the Department of Company Law Administration, Ministry of Commerce and Industry, under S. 22-A(2) of the Chartered Accountants Act, 1949. The petition is against the order passed by the Council of the Institute of Chartered Accountants of India, New Delhi, that the first respondent herein was not guilty of any professional or other misconduct under S. 21 of the Chartered Accountants Act of 1949. In doing so, the Council of the Institute dissented from the finding of the Disciplinary Committee that the first respondent was grossly negligent in the performance of his duties as an auditor.

2. The first respondent is a Chartered accountant. In the course of audit of the Littles Oriental Balm and Pharmaceuticals Ltd., Madras he checked, verified and approved the balance-sheet of the company as on 31-12-1951 the payment of remuneration to Messrs. Oakley Bowden and Co., as managing agents of the Littles Oriental Balm and Pharmaceuticals Ltd, After a period of six years, the Registrar of Companies, Madras, sent a letter calling upon him to explain the failure on his part to detect the continuance in