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Core Purpose

This corrigendum rectifies formatting errors in the English version of a notification regarding ICAI (Merger and Demerger of CA Firms) Guidelines, 2024.

Detailed Summary

This document is a corrigendum issued by The Institute of Chartered Accountants of India to rectify formatting and alignment errors found in the English version of Notification No. 1-CACAF/M&D-F/2025, dated 23rd January, 2025, concerning the ICAI (Merger and Demerger of CA Firms) Guidelines, 2024. The corrigendum addresses specific errors on pages 24, 32, and 33 of the original notification. These corrections pertain to the 'Seniority' column alignment and date of establishment in tables, and to the phrasing related to partnership firms and merger/amalgamation scenarios, ensuring accurate representation of the intended guidelines.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-20022025-261176 EXTRAORDINARY PART III-Section 4 PUBLISHED BY AUTHORITY No. 134] NEW DELHI, WEDNESDAY, FEBRUARY 19, 2025/MAGHA 30, 1946 THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA CORRIGENDUM New Delhi, the 18th February, 2025 F. No. 1-CACAF/M&D-FA/2025.—In the Notification No. 1-CACAF/M&D-F/2025 dated 23rd January, 2025 published in Part III- Section 4 of the Gazette of India, Extraordinary No.66 dated 24th January, 2025 of the Institute of Chartered Accountants of India containing ICAI (Merger and Demerger of CA Firms) Guidelines, 2024, certain formatting/alignment errors were noticed in English version. These errors as per details given below, are hereby rectified by way of this Corrigendum: - 1. Page 24- In the table, column 4 Seniority, is not aligned properly, (i) In row 1 under Seniority, the words appearing as “Date of establishment” be read as “Date of establishment will be 2002." (ii) In row 2 under Seniority, the words appearing as "Date of establishment" be read as "Date of establishment will be 2005." 2. Page 32- In the table, for point III 'Partnership Firms', the words in column 1 against point (a) appearing as "irm consisting of two partners- If one of the partners retires/dies and if the remaining partner continues either as sole proprietor or in partnership with others” be read as "Firm consisting of two partners- If one of the partners retires/dies and if the remaining partner continues either as sole proprietor or in partnership with others." 3. Page 33- In the table, for point IV 'Merger and Amalgamation of two or more firms', the words in column 2 against point 1 appearing as “hange of name from the date of approval" be read as "Change of name from the date of approval.” 4. Page 33- In the table, for point IV ‘Merger and Amalgamation of two or more firms', the words in column 2 against point 2 appearing as "here is no change in the date of establishment. The old trade/firm name will be frozen in the Institute's records based on the request received and unfreeze of the name will also be done on request basis" be read as "There is no change in the date of establishment. The old trade/firm name will be frozen in the Institute's records based on the request received and unfreeze of the name will also be done on request basis." CA. (Dr.) JAI KUMAR BATRA, Secy. [ADVT.-III/4/Exty./991/2024-25]

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