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No Locus Standi and No Professional Misconduct Where NOC Was Withheld Due to Non-Payment of Audit Fees and Complaint Was Filed by Unauthorized Person: Ambuj Sharma vs. CA Heetendra Kumar Jain (ICAI Board of Discipline)
Facts of the CaseThe respondent, CA Heetendra
Kumar Jain, was the statutory auditor of M/s Bensfurt Internet Private Limited
and resigned on 11.08.2020. He duly filed Form ADT-3 (Notice of resignation by
auditor) on 1...
Chartered Accountant Not Guilty Where Allegations of Trust Fund Misappropriation and Fraud Remained Unsubstantiated and Contradicted by Judicial and Investigative Findings: Bhavana Pundlikrao Gawali vs. CA Upendra Gunwantrao Muley (ICAI Board of Discipline)
Facts of the
CaseThe complainant, Ms. Bhavana Pundlikrao Gawali,
former Member of Parliament, was the founder of M/s Mahila Utkarsh Pratishtha
Trust, later converted into a Section 8 Company. Owing to her professional...
Chartered Accountant Not Guilty of Professional Misconduct Where Bank Fraud Allegations Were Settled Under One-Time Settlement and No Conclusive Evidence Was Established: Sandeep Kumar Sharma (CBI) vs. CA Gurinder Kumar Garg (ICAI Board of Discipline)
Facts of the
CaseThe complaint arose from an investigation conducted
by the Central Bureau of Investigation, Banking Securities and Fraud Cell, New
Delhi, pursuant to FIR dated 03.02.2015 registered against M/s Sarvod...
Chartered Accountant Not Guilty Where ICAI Permission to Act as Sleeping Partner in Family Business Was Proved and Allegations Were Unsubstantiated: Rajendra Rungta vs. CA Surendra Kumar Rungta (ICAI Board of Discipline)
Facts of the
CaseThe complainant, Shri Rajendra Rungta, partner of
M/s Shankar Industries, filed a complaint against the respondent, CA Surendra
Kumar Rungta, his real brother, alleging violation of the Chartered Acco...
Practising Chartered Accountant Penalised for Acting as Whole-Time Director in Multiple Companies Without ICAI Permission and for Non-Payment of Trade Dues: Namika Singhal vs. CA Rakesh Verma (ICAI Board of Discipline)
Facts of the
CaseThe complainant, Ms. Namika Singhal, proprietor of
M/s Tirupati Marketing, Ghaziabad, engaged in distribution of products of Bajaj
Electricals and Pidilite Industries (Fevicol). In 2019, the complaina...
Chartered Accountant Not Guilty Where Allegations of Exorbitant Fees and Refusal to Issue NOC Were Found Outside Disciplinary Jurisdiction and Unsupported: Sudha Thapar vs. CA Ved Vrat Bhalla (ICAI Board of Discipline)
Facts of the
CaseThe complainant, Dr. Sudha Thapar, partner of M/s
Gomti Parshad Thapar Hospital, Moga, Punjab, filed a complaint against the
respondent, CA Ved Vrat Bhalla, alleging multiple acts of misconduct. The
...
Chartered Accountant Not Guilty Where Internal Branch Concerns Were Raised Without Proof of Malice and Complainant Failed to Follow ICAI’s Internal Redressal Mechanism: Sidharth Gupta vs. CA Hitesh Goyal (ICAI Board of Discipline)
Facts of the
CaseThe complainant, CA Sidharth Gupta, filed a
complaint against the respondent, CA Hitesh Goyal, who was an Executive Member
of the Ludhiana Branch of NIRC of ICAI and held the post of Secretary during
...
No Professional Misconduct Where Written Communication with Previous Auditor Was Made and Substantive Compliance with Item (8) Was Established in Bank Branch Audit: Murari Lal Rajoria vs. CA Satish Kumar (ICAI Board of Discipline)
Facts of the
CaseThe complainant, CA Murari Lal Rajoria of M/s M L
Rajoria & Associates, was appointed on 02.05.2020 as Statutory Branch
Auditor of Falakata and Cooch Behar branches of the State Bank of India for ...
Chartered Accountant Penalised for Accepting Statutory Audit Without Prior Written Communication With Previous Auditor: Jai Kumar Mansharamani vs. CA Dinesh Kumar Ahuja (ICAI Board of Discipline)
Facts of the
CaseThe complainant, CA Jai Kumar Mansharamani, partner
of M/s Khandelwal Khare & Associates, served as statutory auditor of M/s
Ridhima Overseas Private Limited from 30.09.2014. Due to persistent
no...
Chartered Accountant Not Guilty of Other Misconduct in 2G Spectrum Matter Where Criminal Court Found No Illegality and Acquitted All Accused: In Re CA Hari Sethumadhavan Nair (ICAI Board of Discipline)
Facts of the
CaseThe proceedings arose on the basis of press
releases issued by the Central Bureau of Investigation dated 02.04.2011 and
25.04.2011 and news reports published in The Times of India alleging
involvemen...