Court : Karnataka
Reported in : AIR1991Kant380; 1991(1)KarLJ278
..... this is matter which has come to this court under section 21(5) of the chartered accountant act, 1949 (for short `the act'). ..... the complainant stated that the respondent was guilty of professional misconduct under clause (7) of part i of second schedule to the chartered accountants act, 1949.2. ..... 21, the bench observed earlier as follows : air1964cal178 :'wide are powers,therefore, of this court in dealing with references under section 21 of the chartered accountants act.nevertheless appear that some well-settled principles should guide this court in exercising this ample power.it is essential to remember that this court in such jurisdiction as under s. ..... words of an earlier decision of the same court in the case of s.ganesan v.a.k.joscelyne' : air1957cal33 ,regarding the concept of misconduct were repeated to say : air1964cal178 :'gross negligence in the conduct of professional duties is specially scheduled to be a misconduct under the chartered accountants act.what is gross negligence for the purpose of professional duties in primarily and basically a question of fact.primarily again, the professional bodes charged with the task of maintaining the standards and discipline of the members of the .....
Tag this Judgment!Court : Karnataka
Reported in : (1985)48CTR(Kar)88; ILR1985KAR1543; [1985]155ITR81(KAR); [1985]155ITR81(Karn)
..... **this report has to be given by - (i) a chartered accountant within the meaning of the chartered accountants act, 1949 (38 of 1949); or (ii) any person who, in relation to any state, is, by virtue of the provisions of sub-section (2) of section 226 of the companies act, 1956 (1 of 1956), entitled to be appointed to act as an auditor of companies registered in that state. ..... **this report has to be given by - (i) a chartered accountant within the meaning of the chartered accountants act, 1949 (38 of 1949), or (ii) any person who, in relation to any state, is, by virtue of the provisions of sub-section (2) of section 226 of the companies act, 1956 (1 of 1956), entitled to appointed to act an auditor of companies registered in that state.' 28. ..... section 44ab provides for compulsory or statutory audit of accounts of certain class of persons carrying on business or profession by the chartered accountants (cas) who are on the register of members maintained by the institute of chartered accountants of india (institute) established and functioning from july 1, 1949, under the chartered accountants act of 1949 (central act no. ..... 13 in interpreting the words 'reasonable restrictions' on the exercise of the right as used in clause (2). .....
Tag this Judgment!Court : Karnataka
Reported in : 2009(2)KarLJ593; 2009(1)KCCR749; 2009(2)AIRKarR451
..... had been illegally taken by the vice-president and the same is kept by him in his house and that a complaint has been lodged against the vice-president on 23.3.2008 and it was reported by the chartered accountant that there is violation of section 32(1)(h) & (i) of the act and that no meeting of the society was convened after 9.2.2008 for over a period of six months and it is reported about the irregularities committed in not recovering installments from the loaners vide pl. ..... according to the 2nd respondent, the writ petition filed by the petitioner is not maintainable, since the petition is represented by its president and not by the chief executive of the co-operative society in terms of section 31(2)(b) of the act and that the petition is also not maintainable, since the chartered accountant was directed to verify the records and submit the report based on the letter of the president. ..... dispute was unable to manage the affairs of the society in accordance with the act when the president has addressed a letter to the 2nd respondent and based on the same, if the 2nd respondent has directed the chartered accountant to verify the records and submit a report in regard to the affairs of the society and based on such direction, when the chartered accountant has submitted her report about the violations made by the petitioner-society and when .....
Tag this Judgment!Court : Karnataka
Reported in : AIR1975Kant188; [1975]45CompCas238a(Kar); ILR1974KAR881
..... in this petition under article 226, the petitioner who is a chartered accountant, has challenged the validity of an order made by the institute of chartered accountants of india (hereinafter referred to as 'the institute'), the institute is a body created under the chartered accountants act, 1949 (hereinafter referred to as 'the act').2. ..... he has, however, stated as follows:--'the rendering of consultancy services and other work which comes within the ambit of a chartered accountant's work in all aspects relating to management, is in the opinion of the council, a part of the practice of a chartered accountant under section 2(2)(iv) of the act. ..... your attention is also invited to section 2(2) of the said act and regulation 167 of the chartered accountants regulations as to what constitute practice as a chartered accountant. ..... the council is now of the opinion that the consultancy service offered by the directors of the company individually or through the company, in all aspects relating to management, is part of the practice of a chartered accountant as described under section 2(2)(iv) of the act, and it would offend the provisions of section 25. ..... section 25 of the chartered accountants act prohibits companies from practising as chartered accountants. .....
Tag this Judgment!Court : Karnataka
Reported in : [1975]45CompCas679(Kar)
..... a body created under the chartered accountants act, 1949 (hereinafter referred to as 'the act'). 2. ..... , stated as follows :'the rendering of consultancy services and other work which comes within the ambit of chartered accountant's work in all aspects relating in management is, in the opinion of the council, a part of the practice of a chartered accountant under section 2(2)(iv) of the act. ..... also invited to section 2(2) of the said act and regulation 167 of the chartered accountants regulations as to what constitute practices as a chartered accountant. ..... now of the opinion that the consultancy service offered by the directors of the company individually or through the company, in all respects relating to management, is part of the practice of a chartered accountant as described under section 2(2)(iv) of the act, and it would offend the provisions of section 25. ..... to the petitioner and other directors of the company was to dissociate themselves from the company on the ground that the consultancy service offered by them or through their company is a part of the practice of a chartered accountant and, therefore, forbidden by the provisions of section 25. ..... are not actually controlling the day-to-day affairs of the company, if the company is rendering such services as a chartered accountant would, then, it would come within the ambit of section 25.' 10. ..... explained in my earlier letter, section 25 of the chartered accountants act prohibits companies from practising as chartered accountants. .....
Tag this Judgment!Court : Karnataka
Reported in : AIR1960Kant252; AIR1960Mys252; [1960]30CompCas575(Kar); ILR1960KAR601
..... of the council that the respondent was guilty of misconduct such as what is referred to in clauses (q) and (r) of the schedule to section 22 of the chartered accountants act was inevitable, and indeed abundantly justified. ..... reference made to us under the provisions of section 21(2) of the chartered accountants act (central act no. ..... on a complaint received from the deputy secretary to the government of india, ministry of finance, in respect of the said audit conducted by the respondent, the disciplinary committee of the council of the institute of chartered accountants of india made an enquiry and recorded a finding that the respondent was grossly negligent in the conduct of his professional duties and failed to obtain sufficient information to warrant the expression of the opinion which he expressed ..... complaint made against the respondent was that in the balance sheets for the periods ending on december 31 of 1949, 1950 and 1951, no such remark was made by him, and that there was no qualifying auditor's report ..... who audited the accounts of a small bank known as the supreme bank of india which had its head office in belgaum and two branch offices, for the years 1949, 1950 and ..... joint stock companies to the members of the disciplinary committee that although reconciliation statements were available for the period prior to the year 1948, such statements were not available in regard to the years 1949, 1950, and 1951. ..... xxxviii of 1949), we are concerned with the conduct of the respondent .....
Tag this Judgment!Court : Karnataka
Reported in : [2003]116CompCas571(Kar); 2003(2)KarLJ1
..... matter to the disciplinary committee to hold enquiry, and the disciplinary authority after hearing the parties was of the view that the 1st respondent-petitioner had complied with the requirements under the chartered accountants act, 1949 (for short 'the ca act') and his conduct was totally bona fide, and that the lapse, if any, was on the part of the company as it did not comply with the circular of the company law board, and ..... the appellant-institute of chartered accountants of india (for short the 'icai') has filed this appeal against the order dated 15-9-2000 passed by the learned single judge in w.p. no. ..... he submits that once no professional misconduct has been proved against the 1st respondent-petitioner and once it is held that there is no violation of requirement of sections 224 and 225 of the act and the same has been complied with, as per the report of the disciplinary authority, it was not necessary to remit the matter to the disciplinary committee at all for further enquiry. ..... it is also settled that a provision is to be read as a whole and while interpreting, the intention and object of the legislation have to be looked upon. ..... the apex court has clearly interpreted and the principles enunciated have not been disputed by the learned counsel for the respondent. ..... so far as the cardinal law of interpretation is concerned, it is settled that if the language is simple and unambiguous, it is to he read with the clear intention of the legislation. .....
Tag this Judgment!Court : Karnataka
Reported in : AIR1965Kant112; AIR1965Mys112; (1964)1MysLJ386
..... in exercise of the powers conferred by clause (ii) of part ii of the second schedule to the chartered accountants act, 1949, the council of the institute of chartered accountants of india specifies that a member of the institute shall be deemed to be guilty of misconduct, if, in connection with election to the central and/or regional councils of the institute, he is found to have taken part, directly or indirectly, either himself or through ..... ' this means that the regulations made by the council, under section 30 of the act will have been previously published and that they also have the approval of such a high authority as the central ..... that case, one of the questions for decision was as to whether section 16(1)(ix) of the orissa municipal act, 1950, violated article 19(1)(g) of the constitution. ..... observations which apply to this case also, are as follows :'it was contended that article 245(1) prohibits the making of laws which violate the constitution and that the impugned sections interfere with a citizen's fundamental right to freedom of speech. ..... the relevant part of section 22 of the act which defines professional misconduct is as ..... section 30(1) of the act provides that the council may, by notification in this gazette of india, make regulations for the purposes of carrying out the subjects of the act ..... but, sub-section (3) of section 30 requires that all regulations made by the council, 'shall be subject to the condition of previous publication and to the approval of the central .....
Tag this Judgment!Court : Karnataka
Reported in : ILR1993KAR2054; 1993(3)KarLJ506
..... corporate established under section 3 of the chartered accountants act, 1949 (the act for short). ..... of permission to members to be engaged in other occupations besides the practice of the profession of accountancy within the categories permitted by the council;(6) exempting any chartered accountant in practice or a firm of such chartered accountants from the operation of sub-section (1) of section 27 for a period not exceeding six months, where the infringement is of a technical nature;(7) maintaining registers, documents and forms as required by the act and these regulations;(8) being in charge of all the property of the institute;(9) making necessary arrangements ..... stand taken by respondent-2, the petitioner made a complaint to respondent-1 as per annexure-b dated 7.10.1983 addressed to the council of the institute of chartered accountants of india, respondent-1 herein, stating that respondent-2 failed to pay his salary as stated above and that therefore he sought legal action against him. ..... in that decision, the supreme court was interpreting the provisions of section 19 of the mines and minerals (regulation and development) act, 1957 read with rules 9(2) and 19 of the ..... first, let us see the interpretation of regulation 32(b)(1) made by the ..... keeping the said interpretation of their lordships of the orissa high court in view, let me now see whether the payments made by respondent-2 are in ..... interpreting this provision, the orissa high court has made it very clear that such stipend .....
Tag this Judgment!Court : Karnataka
Reported in : AIR1977Kant124; 1977(1)KarLJ255
..... the said resolution reads:'the respondent was guilty of professional misconduct under cls, (6) and (7) of part i of the second schedule to the chartered accountants act, 1949.it was decided to recommend to the high court that the name of the respondent be removed from the membership of the institute for a period of 3 ..... 21 of chartered accountants act, 1949 (hereinafter referred to as the act), recommending that the respondent one sri shantharama rao, a chartered accountant, be removed from the membership of the institute for a period of 3 ..... reference is by the council of the institute of chartered accountants (hereinafter referred to as institute), under s. ..... they read:'a chartered accountant in practice shall be deemed to be guilty of professional misconduct, if he-(6) fails to report a material misstatement known to him to appear in a financial statement with which he is concerned in a professional capacity;(7) is grossly negligent in the conduct of his professional ..... court in the ease of institute of chartered accountants of india v. p. k. ..... having regard to the nature of the charges leveled and the vague and unsatisfactory explanations offered by the respondent, the high standard of conduct expected of the members of such an important body as the institute of chartered accountants. ..... first contention, it is to be seen that clauses (6) and (7) have the schedule provide for two instances of what shall be deemed to be professional misconduct on the part of chartered accountants. .....
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