ICAI taken action against CAs for Professional Misconduct

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1. The Institute of Chartered Accountants of India (ICAI) has removed the name of two Chartered Accountants (CA) namely CA Nayan Rameshchandra Kothari and CA Kasi Viswanadh Yamujala for 1 month on the ground of professional misconduct.

2. The notification said that Section 21B(3) of the Chartered Accountants Act, 1949 read with Rules 18(17) and 19(1) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Disciplinary Committee has held CA. Kasi Viswanadh Yamujala (Membership No. 029446), 14, 4th Cross 1st Floor, J. M. Lane, Bengaluru and CA. Amit Omprakash Kalantri (Membership No. 133877), Office No. 2, Surya Sankul Bazar Peth, Sangamner, Ahmednagar guilty of Professional Misconduct falling within the meaning of Clause (7) of Part I of the Second Schedule to the aforesaid Act.”

3. The Clause (7) of Part I of the Second Schedule says that a chartered accountant in practice shall be deemed to be guilty of professional misconduct, if he does not exercise due diligence, or is grossly negligent in the conduct of his professional duties.Consequently, ordered for removal of the name of CA Nayan Rameshchandra Kothari and CA Kasi Viswanadh Yamujala from the Register of Members for a period of 1 month.

4. The notification said that in exercise of the powers conferred by of Section 20(2) of the Act, read with Regulation 18 of the Chartered Accountants Regulations, 1988, it is notified that the name of CA Nayan Rameshchandra Kothari and CA Kasi Viswanadh Yamujala, shall stand removed from the Register of Members for a period of 1 month with effect from 25th September, 2020.

The Institute further removed the name of  Chartered Accountant (CA) Raj Seckhar MS for 1 month on the ground of professional misconduct.

5. The relevant notification stated that, “Section 21B(3) of the Chartered Accountants Act, 1949 read with Rules 18(17) and 19(1) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Disciplinary Committee has held CA. Raj Seckhar M S (Membership No. 200772), Mecheri Manor 2, S R Iyer Layout, Near All India Radio, Coimbatore, guilty of Professional Misconduct falling within the meaning of Clause (7) of Part I of the Second Schedule to the aforesaid Act.” 

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