Judgment Search Results Home > Cases Phrase: chartered accountants act 1949 section 24 penalty for falsely claiming to be a member etc Page 1 of about 355 results (0.147 seconds)

The Institute of Chartered Financial Analysts of India, a Society Regi ...

Court : Andhra Pradesh

Reported in : 1991(1)ALT87

..... sections 24 and 24-a provide for penalty for falsely claiming to be a member of the institute and for using the name of the institute or which is identical with the name with common seal of the institute or so nearly resembles it as to deceive or as is likely to deceive the public and awarding any degree, diploma or certificate, bestow any designation which indicates or purports to indicate the position or attainment of any qualification or competence similar to that of a member of the institute etc ..... further opined that the activities of the institute of chartered financial analysts of india are violative of section 24-a of the chartered accountants act, 1949. ..... led to the issuance of the said notification, contending that the notification that has been issued is perfectly within the authority that was conferred on the 1st respondent-institute under the chartered accountants act, 1949 (hereinafter referred to as 'the act'), and also with the object of regulating the accountancy profession to maintain the standards of its members.7. ..... 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 hereby specifies that a member of the institute, whether in practice or not, shall be deemed to be guilty of professional misconduct if he becomes a member of the institute of chartered financial analysts of india on or after 1st january, 1990 or having already become a. .....

Council of the Institute of Chartered Accountants of India Vs. Somnath ...

Court : Kolkata

Reported in : AIR2007Cal29,(2007)2CALLT182(HC),2007(1)CHN378

..... section 21 of the chartered accountants act, 1949 enumerates the procedures for conducting enquiries relating to misconduct of the members ..... mullick, learned senior counsel of the respondent auditor, however, submits that the powers of court under section 21 of the chartered accountants act, 1949 are undoubtedly wide enough to enable the high court to adopt any course in order to do complete ..... under section 21(5) of the chartered accountants act, 1949 (hereinafter referred to as the 'said act') by the council of the institute of chartered accounts ..... part i of the second schedule to the chartered accountants act, 1949 with regard to charges 6 and 7; and(iii) clauses (5), (6)(7), (8) and (9) of part i of the second schedule to the chartered accountants act, 1949 with regard to charge 8; and(iv) clauses (7), (8) and (9) of part i of the second schedule to the chartered accountants act, 1949 with regard to charge 11.6. ..... meaning of clauses 7 and 8 of part i of the second schedule to the chartered accountants act, 1949 and the aforesaid finding of the disciplinary committee was also accepted by the petitioner council.42 ..... of the disciplinary committee and accordingly held that the respondent was guilty of professional misconduct falling within the meaning of:(i) clauses (7) and (8) of part i of the second schedule to the chartered accountants act, 1949 with regard to charges 3, 4, 5 and 10. ..... the respondent auditor herein claimed that following the instructions of the institute, audit was .....

In Re: Telesia Trading and Finance Ltd.

Court : Allahabad

Reported in : (2003)4CompLJ325(All); [2004]51SCL564(All)

..... copy of the provisional accounts for the period 1-4-2002 to 31-1-2003 audited by the chartered accountants has been filed as ..... copy of the provisional accounts for the period 1-4-2002 to 31-1-2003 audited by the chartered accountants has been filed as annexure ..... of the said report of the official liquidator, it is stated as follows :'that as required under second proviso to section 394 of the companies act, 1956, the transferor companies produced the books of account and statutory records for scrutiny by the official liquidator on 28-5-2003 through sri ashish sabarwal, authorised representative. ..... copy of the provisional accounts for the period 1-4-2002 to 31-1-2003 audited by the chartered accountants has been filed as annexure ..... of the said report of the official liquidator, it is stated as follows :'that the scrutiny of the books of account and paper[s], the official liquidator submits that the affairs of both the transferor companies are not managed prejudicially to its members or to general public.'13. ..... , which was circulated to the members along with the notice of the meeting and a copy of which has also been placed before this meeting and signed for identification by the chairman hereof, be and same is hereby approved and agreed to without any modification'.' ..... of 2003 submitted by the official liquidator, the official liquidator has, inter alia, stated that the affairs of both the transferor companies are not managed prejudicially to its members or to the general public.19. .....

R.B. Basu Vs. P.K. Mukherji

Court : Kolkata

Reported in : AIR1957Cal449

..... a reference under section 21(1) of the chartered accountants act, 1949, made by the council of the institute of chartered accountants against one mr. ..... agreed to take from the complainant fees on the basis of 10 per cent of the amount of relief obtained and had thereby contravened the provisions of clause cm) of the schedule to the chartered accountants act, 1949.' 18. ..... 'without prejudice to the discretion vested in the council in this behalf', which would suggest that the functions enumerated in the regulation are not among the permanent func-tions which chartered accountants may claim to exercise as of right, but only functions which the council may permit its members to exercise and which may be withdrawn at any moment from the category of permissible functions. ..... which the complainant made against the respondent were that he, having accepted an engagement for good consideration to appear at the hearing of the appeals, had failed to do so and, secondly, that he had not only obtained a large sum of money by false representation, but had been trying to obtain even larger sums by means of ..... we think further that the ends of justice require that some penalty should be inflicted, but, at the same time, that the ends of justice will be satisfied by the infliction ..... which mr.moitra made--and in this he was joined by mr.ghose appearing on behalf of the institute--was that the respondent was a comparatively young man, and a severe penalty inflicted on him wouldaltogether blast his career. .....

Council of the Instt. Of Chartered Accountants of India vs.subodh Gupt ...

Court : Delhi

..... chartered accountants has made the instant reference under section 21(5) of the chartered accountants act, 1949 in respect of the respondent being indicted for a misconduct other than such misconduct which is referred to in sub-section (4) of section ..... guilty of professional misconduct chat.a.ref.no.2/2010 page 6 of 10 falling within the meaning of clause (11) of the part 1 of the 1st schedule to the chartered accountants act, 1949; (b) guilty of other misconduct under section 22 read with section 21 of the chartered accountants act, 1949. ..... that the respondent is guilty of other misconduct under section 22 read with section 21 of the chartered accountants act, 1949. ..... complainant and the respondent and submitted a report on october 03, 2006 holding the respondent guilty of professional misconduct within the meaning of clause 11 of the first schedule to the chartered accountants act, 1949 and with respect to the charge of other misconduct observed that the same shall be decided after the outcome of the verdict by the cbi court. ..... in view the gravity of the misconduct we answer the reference by imposing the penalty of removal of respondent s name from the register of members of the institute of chartered accountants for a period of two years. ..... .a.ref.no.2/2010 page 9 of 10 chartered accountant enters into an agreement to sell and receives an earnest money which he claims to have forfeited alleging default by ..... the chat.a.ref.no.2/2010 page 3 of 10 the loan application/documents etc. ..... etc ..... etc .....

Council of the Institute of Chartered Accountants of India, New Delhi ...

Court : Karnataka

Reported in : AIR1991Kant380; 1991(1)KarLJ278

..... section 21(5) of the chartered accountant act, 1949 (for short `the act ..... 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 ..... not called for against him. ..... bank account and ..... for ..... false certificate of purchase, turnover of books with a view to mislead, this ..... account'the respondent quite strangely asserts, books of accounts ..... section 21 of the chartered accountants act ..... account referred to him as having been examined,he stated that they were purchase and sale books, and not cash books and ledger books.to the next quetion:'question: whether books of accounts ..... for the untoward thing that has happened,but, assured the institute (petitioner)that he has been in continuous practice for ..... section 21 read with section 22 of the act and clause (7) of part i of the second schedule to the act.this report was accepted by the council.the respondent did not participate n the proceedings before the council,but made a written representation.after accepting the committiee's findings, the council recommended that the name of the respondent be removed from the register of members for ..... account was also not furnished and he accepted the explanation of the proprietor of the firm, when the respondent was told that the nature of the business was such that the firm was acting as purchase agent for libraries, institutions etc .....

Council of Institute of Chartered Accountants of India Vs. Dayal Singh ...

Court : Delhi

Reported in : AIR2007Delhi286

..... 1 was guilty of professional misconduct falling within the meaning of clause (7) of part 1 of the second schedule and 'other misconduct' within the meaning of section 21 read with section 22 of the chartered accountants act,7. ..... 1 in writing, that he has accepted advance audit fees of rs, 45,000/- and did not complete the audit work, it would certainly amount to negligence in dish charge of his professional duties and which, clearly shows that he had acted in a manner unbecoming of a chartered accountant and, thereforee, the council rightly recommended removal of his name from the register of members for a period of one year.11. ..... we have examined the issue whether the punishment is too harsh or not, but we 'find that there has to be some degree of integrity and probity which is expected of a chartered accountant who has been engaged for completing the audit work. ..... this clause reads as under:a chartered accountant in practice shall be deemed to be guilty of professional mis conduct, if he -(1) to (6) xx xx xx xx(7) is grossly negligent in the conduct of his professional duties;(8) to (10) xx xx xx xx6. ..... 5/2005 (council of the institute of chartered accountants of india v. ..... this reference has been made to the high court under section 21(5) of the chartered accountant act read with chapter 7-f of the delhi high court rules.2. ..... 1 has committed professional misconduct under clause (7] of part i of the second schedule of the chartered accountants act, 1949. .....

Shambhu Nath Roy Vs. State of Bihar and ors.

Court : Patna

..... by referring to the provisions of the chartered accountants act, 1949, it was urged that the term 'qualified accountant' must be understood to me an a person who has done chartered accountancy. ..... a division bench of this court rejected the argument that the constitution of the committee will be complete only when nominations are made by the state government and held that the term of the members and office-bearers will be deemed to commence from the beginning of the co-operative year in which election had been held notwithstanding the fact that nomination was not made by the state government within time ..... it has been submitted that section 53 of the bihar state universities act, 1976 (in short, 'the universities act') provides for audit of the accounts of the college by a qualified accountant appointed as an auditor by the syndicate. ..... sahu is that he is said to be a trusted man of the vice-chancellor who is alleged to be on inimical terms with the petitioner and it is suggested that sri sahu submitted a wrong and motivated report to falsely implicate him at the instance of the vice-chancellor.6. ..... firstly, the affiliation has been made retrospective so as to validate or regularise all sections taken by the college and the university in relation to the college, including the holding of examinations etc. .....

Kidarsons Industries Pvt. Ltd. Vs. Hansa Industries P. Ltd. and Others

Court : Delhi

Reported in : [1998]91CompCas451(Delhi); 1993(26)DRJ43; ILR1993Delhi109b

..... mahadeo jalan : [1972]86itr621(sc) , it has been observed (headnote) : 'where for the purpose of wealth-tax the shares held by an assessed in a company are to be valued under section 7of the wealth-tax act, 1957, though ultimately the facts and circumstances of the case, the nature of the business of the company, the prospects of profitability and such other considerations will be taken into account, the following principles are normally applicable : (1) where the shares are of a ..... valuations have been carried out near about the crucial date in the present case and were accepted by ray and ray, chartered accountants, who had also done valuation of the shares of the company by valuing the assets of the company. ..... there is so much divergence between the parties even on the question of possession of covered area, assessment of value of the portions claimed to be occupied by narender nath is practically impossible. 14. ..... has also observed that it is not possible nor desirable that all the family members should live in the same house. ..... of this, an area of 1,754 square feet comprises stair cases, projections and garages etc. ..... case of the objector is that narender nath is in occupation of three bed rooms in the golf links property besides his right to use the common areas in the house like kitchen, drawing and dining room, etc. ..... 20 of the settlement gives such powers to the court because under the said clause the implementation and execution of the settlement and any orders or decisions etc. .....

Kishorilal Dutta Vs. P.K. Mukherjee

Court : Kolkata

Reported in : AIR1964Cal131,67CWN772

..... the advocate-general's point of objection in this respect would have been of considerable weight if the standing committee namely, the disciplinary committee in this case, was not in fact composed of 5 members; for that would havebeen a breach clearly of section 17(3) of the chartered accountants act; but the official publications of the institute of chartered accountants clearly show the personnel and the membership of the disciplinary committee in this case and they indicate that they were in fact composed of 5 members as required in section 17(3) of the act. ..... in that case on the conclusion of the hearing in which evidence was given, composition of the disciplinary committee which held the inquiry under the chartered accountants act, 1949, underwent a change and thereafter report was made by a committee of different composition. ..... the following considerations should be borne in mind, at the time of imposing the type of penalty:--(1) whether the accountant acted for any motive of gain, pecuniary or otherwise, whether he actually derived any pecuniary benefit. ..... (5) whether there is an error of judgment, anda claim of bona fide exercise of normal and reasonable care, particularly in cases outside his special province of accountancy; whether it was a case of technical breach though he acted with due diligence or whether he acted mala fide. ..... he should neither suggest nor assist in the preparation of false accounts. .....