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CA Found Guilty for Acting as Intermediary in Investment Transactions and Engaging in Business Beyond Professional Role: ICAI Board of Discipline Orders Removal and Monetary Penalty – Akhilesh Agarwal vs. CA Radhey Shyam Bansal
Facts of the CaseA complaint was filed by CA Akhilesh Agarwal against CA Radhey Shyam
Bansal alleging professional misconduct arising from investment transactions in
real estate projects at Dehradun and Behror. The com...
Chartered Accountant Found Guilty of Forgery, Abuse of Professional Relationship and Misappropriation of Trust Funds: Amit M. Panchal vs. CA Tehmul B. Sethna (ICAI Board of Discipline)
Facts of the
CaseThe complainant, Shri Amit M. Panchal, filed a
complaint against the respondent, CA Tehmul B. Sethna of M/s Apaji Amin &
Co. LLP, alleging serious professional misconduct arising from abuse of tru...
Practising Chartered Accountant Penalised for Engaging in Business of Sale of Building Materials in Firm’s Name: Ajay Bharti vs. CA Akshay Mittal (ICAI Board of Discipline)
Facts of the
CaseThe complainant, Shri Ajay Bharti, entered into a
transaction for sale of an under-construction property to the family of the
respondent, CA Akshay Mittal. It was alleged that the respondent, claiming...
Chartered Accountant Reprimanded for Assisting in Fudged Financial Statements, Bogus CMA Data and Receipt of Illegal Payments: M. Roopa (CBI) vs. CA Devarajan K.E. (ICAI Board of Discipline)
Facts of the
CaseThe complainant, Ms. M. Roopa, IPS, Superintendent
of Police, Central Bureau of Investigation, Anti-Corruption Branch, Chennai,
filed a complaint against the respondent, CA Devarajan K.E., alleging se...
Property Dispute Arising from Competing Wills Held Outside ICAI Jurisdiction: Chartered Accountant Found Not Guilty of Other Misconduct – Kala Somani vs. CA Prasan Kumar Deshlahra (ICAI Board of Discipline)
Facts of the
CaseThe complainant, Ms. Kala Somani, an elderly lady
aged about 82 years, filed a complaint against the respondent, CA Prasan Kumar
Deshlahra, alleging mental harassment, illegal occupation of her house,...
No Professional Misconduct in Partnership Dispute with Legal Heir Where Partnership Deed Is Silent on Goodwill and Audit Obligations: Pritha Ponraj vs. CA K. Venkatraman (ICAI Board of Discipline)
Facts of the
CaseThe complainant, Mrs. Pritha Ponraj, widow and
legal heir of late CA S. Ponraj, filed a complaint against the respondent, CA
K. Venkatraman, partner of M/s Ponraj & Co., alleging multiple acts of
...
Chartered Accountant Not Guilty Where Alleged Facilitation of Share Premium Transaction Found Unsupported by Income Tax Findings: Information vs. CA Atul Jain (ICAI Board of Discipline)
Facts of the
CaseA search action under Section 132 of the Income Tax
Act, 1961 was conducted on 23.12.2014 in the case of M/s Kaygee Investments
Private Limited. During the search, it was noticed that the company had
...
Chartered Accountant Penalised for Accepting Statutory Audit Without Prior Communication and Without Verifying Valid Removal of Previous Auditor: Radhakrishna Pillai vs. CA Vijaya Mohan Valiathan (ICAI Board of Discipline)
Facts of the
CaseThe complainant, CA V. Radhakrishna Pillai, was the
statutory auditor of M/s Uniserve Distributors Private Limited for a continuous
period from Financial Year 2015–16 to 2019–20. It was alleged th...
Chartered Accountant Penalised for Accepting Statutory Audit Without Prior Written Communication with Existing Auditor: T. T. Durairaj Kandiar vs. CA Anand K. (ICAI Board of Discipline)
Facts of the
CaseThe complainant, CA T. T. Durairaj Kandiar, on
behalf of M/s Durairaj & Associates, was appointed as the statutory auditor
of M/s Karthigeya Plastics & Technologies Private Limited for the fin...
Prior Written Communication with Previous Internal Auditor Proved by Postal Evidence: Chartered Accountant Held Not Guilty under Item (8) – Sukumar Datta vs. CA Deepak Gulati (ICAI Board of Discipline)
Facts of the
CaseThe complainant, CA Sukumar Datta, was appointed as
the Internal Auditor of the Institute of Indian Foundrymen (IIF) for the
Financial Year 2017–18. The complainant alleged that the respondent, CA D...