Full Text
REGD. No. D. L.-33004/99
The Gazette of India
CG-DL-E-09012025-260091
EXTRAORDINARY
PART III-Section 4
PUBLISHED BY AUTHORITY
No. 27]
NEW DELHI, THURSDAY, JANUARY 9, 2025/PAUSHA 19, 1946
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
(Set up by an Act of Parliament)
NOTIFICATION
New Delhi, the 9th January, 2025
(CHARTERED ACCOUNTANTS)
No. PR/G/40/2021/DD/77/2021/DC/1577/2022.—In terms of the provisions of Section 21B(3) of the
Chartered Accountants Act, 1949 read with Rule 18(17) of the Chartered Accountants (Procedure of Investigations of
Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Disciplinary Committee has held
CA. Akshay Jain (Membership No. 241125), D No. 23-7-86, 2nd Floor, Shikar Darshan, Opposite Rao Bahadur
Meda, GUNTUR 522003(Andhra Pradesh), guilty of Professional and Other Misconduct falling within the meaning
of Item (7) of Part I of Second Schedule and Item (2) of Part IV of First Schedule to the aforesaid Act and consequently
after affording an opportunity of being heard in terms of Rule 19(1) of the aforesaid Rules, ordered for removal of name
of CA. Akshay Jain (Membership No. 241125) from the Register of Members for a period of 5(Five) years and also
imposed a fine of Rs. 5,00,000/-(Rupees Five Lakhs only) to be paid within 90(ninety) days and in case of default in
payment of fine within stipulated time his name shall be removed for a further period of 01(One) month. Since the
Respondent had failed to pay the imposed fine within stipulated time, in pursuance of the aforesaid Order of the
Disciplinary Committee and in exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act,
read with Regulation 18 of the Chartered Accountants Regulations, 1988, the name of CA. Akshay Jain (Membership
No. 241125), was removed from the Register of Members for a consolidated period of 05(Five) years and 01(one) month
[05(Five) years plus additional 01(One) month] with effect from 3rd January, 2025. In the meantime, the Respondent
approached Hon'ble High Court of Andhra Pradesh by filing writ petition no. WP 30264/2024, which was disposed off
on 3rd January, 2025. While disposing off the aforesaid writ petition, the Hon'ble Court directed the ICAI not to
implement the punishment Order against the Petitioner till the petitioner files the Appeal before the Appellate Authority
within 04(Four) weeks. Accordingly, the notification dated 3rd January, 2025, wherein the name of CA. Akshay Jain
(Membership No. 241125) was removed from the Register of Members stands withdrawn.
CA. (Dr.) JAI KUMAR BATRA, Secy.
[ADVT.-III/4/Exty./891/2024-25]
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