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Core Purpose

Notification modifying a disciplinary order under the Chartered Accountants Act, 1949, reducing a member's removal period from one year to nine months following an appellate order.

Detailed Summary

The Institute of Chartered Accountants of India Notification No. PR/68/16/DD/26/2017/DC/811/2018 dated 25 August 2023, issued under 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 had held CA. Subodh Kumar Maheshwari (Membership No. 071569), of Bhopal, Madhya Pradesh, guilty of professional and other misconduct under Item (4) of Part II of the Second Schedule and Item (2) of Part IV of the First Schedule to the Act, and ordered removal of his name from the Register of Members for one year plus a fine of Rs. 1,00,000, effective 16 June 2023, under Section 20(2) of the Act read with Regulation 18 of the Chartered Accountants Regulations, 1988. On appeal (Appeal No. 10/ICAI/2023), the Appellate Authority, by order dated 30 July 2023, reduced the removal period from one year to nine months without modifying the fine. Accordingly, the earlier notification is modified so that his removal from the Register of Members stands at nine months effective 16 June 2023. Signed by CA. (Dr.) Jai Kumar Batra, Secretary.

Full Text

5476 GI/202 3 (1) रजजस्ट्री सं. डी.एल.- 33004/99 REGD. No . D. L. -33004/99 EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY No. 598] NEW DELHI , FRIDAY , AUGUST 25, 2023/ BHADRA 3, 1945 CG-DL-E-25082023-248338 THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) NOTIFICATION New Delhi, the 25th August, 2023 (CHARTERED ACCOUNTANTS) No. PR/68/16/DD/26/2017/DC/811/2018 .—In terms of the provisions of Se ction 21B(3) of the Cha rtered 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. Subodh Kumar Maheshwari (Membership No. 071569), Sankalp, E -5/10, Opposite Habibganj Police Station, Arera Colony, BHOPAL (Madhya Pradesh) 462016, guilty of Professional and Other Misconduct falling within the meaning of Item (4) of Part II of Second Schedule and Ite m (2) of Part IV of the 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. Subodh Kumar Maheshwari (Membership No. 071569) from the Register of Members for a period of 01(one) year and also imposed a fine of Rs. 1,00,000/ -(Rupees One Lakhs) only. In pursuance of the aforesaid Order of the Disciplinary Committee, and in exercise of the powers conferred by sub -section (2) of Sect ion 20 of the aforesaid Act, read with Regulation 18 of the Chartered Accountants Regulations, 1988, the name of said CA. Subodh Kumar Maheshwari (Membership No. 071569) was removed from the Register of Members for a period of 1(One) year with effect from 16th June, 2023. Aggrieved by Order of the Committee, the Respondent preferred an Appeal in terms of Section 22G of the Chartered Accountants Act, 1949 and the Appellate Authority in appeal no. 10/ICAI/2023 vide its order dated 30th July, 2023 had reduced the period of removal of name from 1(one) year to 09(Nine) months without modifying the amount of fine imposed. Accordingly, in pursuance of the said order of the Appellate Authority, the notification dated 16th June, 2023 wherein the name of CA. Subodh Kumar Maheshwari (Membership No. 071569) was removed from the Register of Members for a period of 1(one) year is hereby modified to the extent that the name of CA. Subodh Kumar Maheshwari (Membership No. 071569) stands removed for a period of 09 (Nine) mon ths only instead of 01(One) year w.e.f. 16th June , 2023. CA. (Dr.) JAI KUMAR BATRA, Secy. [ADVT. -III/4/Exty./ 380/2023 -24] Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi -110064 and Published b y the Controller of Publications, Delhi -110054.

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