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Core Purpose

Notification by the Institute of Chartered Accountants of India removing a member's name from the Register of Members for one month following a Board of Discipline finding of 'Other Misconduct' under the Chartered Accountants Act, 1949.

Detailed Summary

The Institute of Chartered Accountants of India, in Notification No. PPR/P/87/15/DD/68/INF/2015/BOD/314/2017 dated 16 April 2024, stated that under Section 21A(3) of the Chartered Accountants Act, 1949 read with sub-rule (9) of Rule 14 of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Board of Discipline held CA. Musalaiah Penagaluri (Membership No. 023675), of Jayanagar Colony, Kadapa, Andhra Pradesh 516002, guilty of 'Other Misconduct' within the meaning of Item (2) of Part IV of the First Schedule to the Act read with Section 22, and, after affording an opportunity of being heard under Rule 15(1), ordered removal of his name from the Register of Members for a period of one month; the removal, notified under Regulation 18 of the Chartered Accountants Regulations, 1988 in exercise of powers under Section 20(2) of the Act, took effect from 16 April 2024 and was signed by CA. (Dr.) Jai Kumar Batra, Secretary.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-18042024-253765 EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY No. 258] NEW DELHI, TUESDAY, APRIL 16, 2024/CHAITRA 27, 1946 THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Chartered Accountants) NOTIFICATION New Delhi, the 16th April, 2024 No. PPR/P/87/15/DD/68/INF/2015/BOD/314/2017.—In terms of the provisions of Section 21A(3) of the Chartered Accountants Act, 1949 read with sub-rule (9) of Rule 14 of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Board of Discipline has held CA. Musalaiah Penagaluri(M. No. 023675), С-26-108, Jayanagar Colony, KADAPA(Andhra Pradesh) 516002, guilty of 'Other Misconduct' falling within the meaning of Item (2) of Part IV of the First Schedule to the Chartered Accountants Act, 1949 read with Section 22 of the said Act and consequently after affording an opportunity of being heard in terms of Rule 15(1) of the aforesaid Rules ordered for removal of the name of CA. Musalaiah Penagaluri(M. No. 023675) from the Register of Members for a period of 01(One) month. In pursuance thereof and in exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations, 1988 that the name of CA. Musalaiah Penagaluri(M. No. 023675) shall stand removed from the Register of Members for a period of 01(One) month with effect from 16th April, 2024. CA.(Dr.) JAI KUMAR BATRA, Secy. [ADVT.-III/4/Exty./027/2024-25]

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