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Core Purpose

Notification by the Institute of Chartered Accountants of India removing CA. Siddharth Shyam Shetye from the Register of Members for six months and imposing a fine, following a finding of professional misconduct.

Detailed Summary

The Institute of Chartered Accountants of India (ICAI), New Delhi, by Notification No. PR/262/2016/DD/307/2016/DC/1310/2020 dated 28th June 2024, records that 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 found CA. Siddharth Shyam Shetye, Membership No. 116188, of Aranyeshwar Park, Pune 411009, guilty of professional misconduct under Item (7) of Part I of the Second Schedule to the Act; after affording a hearing under Rule 19(1), the Committee ordered removal of his name from the Register of Members for six months and imposed a fine of Rs. 1,00,000 payable within 60 days; in exercise of powers under sub-section (2) of Section 20 of the Act, ICAI notifies under Regulation 18 of the Chartered Accountants Regulations, 1988, that his name shall stand removed from the Register of Members for six months effective 28th June 2024; signed by CA. (Dr.) Jai Kumar Batra, Secretary, under advertisement No. ADVT.-III/4/Exty./229/2024-25.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-28062024-255012 EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY No. 460] NEW DELHI, FRIDAY, JUNE 28, 2024/ASHADHA 7, 1946 THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI (Set up by an Act of Parliament) NOTIFICATION New Delhi, the 28th June, 2024 (CHARTERED ACCOUNTANTS) No. PR/262/2016/DD/307/2016/DC/1310/2020. 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. Siddharth Shyam Shetye (Membership No. 116188),,Aranyeshwar Park, A Wing, 2nd Floor, Near Aranyeshwar Temple, Shankar Nagar -1, PUNE 411009, guilty of Professional Misconduct falling within the meaning of Item (7) of Part I of Second 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. Siddharth Shyam Shetye (Membership No. 116188) from the Register of Members for a period of 06(Six) months and also imposed a Fine of Rs. 1,00,000/-(Rupees One Lakh) only to be paid within 60 days of receipt of the Order. 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, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations 1988, that the name of CA. Siddharth Shyam Shetye (Membership No. 116188), shall stand removed from the Register of Members for a period of 06(Six) months with effect from 28th June, 2024. CA. (Dr.) JAI KUMAR BATRA, Secy. [ADVT.-III/4/Exty./229/2024-25] Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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