TaxTMI 
TaxTMI 
2018 (3) TMI 713
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....e-C), which was followed by a Reminder of 27th February, 2017 (Annexure-D) by SFIO to respondent calling upon the Disciplinary Committee of respondent to take timely action against petitioner and four other Chartered Accountants, whose identity was clearly established by SFIO and if it is done, then not only modus operandi of these Chartered Accountants would be known, but the identity of other mediators could be also established. In pursuance of aforesaid Communication from SFIO, a Show-Cause Notice (Annexure-A) was sent to petitioner on 6th March, 2017 requiring a reply/explanation regarding petitioner being engaged in money laundering operations with S.K.Jain and V.K.Jain and other professionals; inflation of Balance-Sheet by rotational ....
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....ch of the allegations and impugned 'prima facie opinion' does indicate the satisfaction of respondents justifying initiation of disciplinary proceeding against petitioner. It is submitted that in view of the bald denial by petitioner, an opportunity ought to be granted to respondents to lead evidence to show the complicity of petitioner in respect of the transactions in question. Reliance is placed upon Supreme Court's decision in United Bank of India v. Satyawati Tandon and Ors., AIR 2010 SC 3413 to submit that this Court should be circumspect in interfering with the 'prima facie opinion' as efficacious remedy is available to petitioner to show that no case is made out against petitioner and this can only be done after the evidence is led ....
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....pugned 'prima facie opinion', material on record and the decisions cited, I find that impugned 'prima facie opinion' meticulously refers to the allegations against petitioner in detail and takes note of petitioner's Reply to Show-Cause Notice and so, it cannot be said that there is non-application of mind by Disciplinary Authority in rendering the 'prima facie opinion'. The stand taken by petitioner in Reply to the Show-Cause Notice justifies initiation of disciplinary proceedings against him. Merely because respondent-SFIO has sent a Reminder, it would not justify an inference that respondent is bound to initiate disciplinary proceedings against petitioner. Reliance placed by petitioner's counsel upon Supreme Court's decision in Mansukhlal....