https://www.taxtmi.com/caselaws?id=755531 Delhi HC held that ICAI is empowered to take disciplinary action against CA firms for professional misconduct under Sections 21A and 21B of the Chartered Accountants Act, 1949 read with Rule 8 of 2007 Rules. The court ruled that while firms can designate a specific member to answer complaints for single incidents, in cases involving complex arrangements spanning decades with multiple agreements, the entire firm must be held responsible if found culpable. The court dismissed writ petitions challenging ICAI's authority to proceed against firms, emphasizing that allowing firms to merely designate one individual for all misconduct would defeat the Act's purpose and render it ineffective. Costs of Rs. 1 lakh each were imposed. en-us Wed, 03 Jul 2024 00:00:00 +0530 Mon, 15 Jul 2024 08:14:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755531 Delhi HC held that ICAI is empowered to take disciplinary action against CA firms for professional misconduct under Sections 21A and 21B of the Chartered Accountants Act, 1949 read with Rule 8 of 2007 Rules. The court ruled that while firms can designate a specific member to answer complaints for single incidents, in cases involving complex arrangements spanning decades with multiple agreements, the entire firm must be held responsible if found culpable. The court dismissed writ petitions challenging ICAI's authority to proceed against firms, emphasizing that allowing firms to merely designate one individual for all misconduct would defeat the Act's purpose and render it ineffective. Costs of Rs. 1 lakh each were imposed. Case-Laws Indian Laws Wed, 03 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755531