2019 (3) TMI 1360

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....Ram Heda, Advocates for Petitioner. Shri Sunil Manohar, Senior Advocate, assisted by Shri H.V. Thakur, Advocate for Respondent No.1. Shri M.G. Bhangde, Senior Advocate, assisted by Shri S.V. Bhutada, Advocate for Respondent No.2. 1. The respondent No.2Anand Shyamsundar Daga, a Chartered Accountant, is punished by the Institute of Chartered Accountants of India with an order of repri....

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.... punishment of permanently debarring the respondent No.2 from practising the profession. 3. If we accept the contention of Shri Parchure that the procedure prescribed for imposing an order of punishment and fine has not been followed, we will have to set aside the said order and remand the matter back to the respondent No.1 for fresh consideration in accordance with law. The question as to whet....

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....ed Accountant. 4. The subject of misconduct on the part of the professional is covered by Chapter V of the Chartered Accountants Act, 1949. Section 21A(3) thereof being relevant, is reproduced below :   "21A. Board of Discipline. ... ... ... (3) Where the Board of Discipline is of the opinion that a member is guilty of a professional or other misconduct mentioned in the First Sche....

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....rdingly, the punishment of reprimand and imposition of fine of Rs. 1,00,000/is considered to be reasonable by the Board of Discipline in exercise of its power under Section 21A(3) of the Chartered Accountants Act, reproduced above. We are not sitting in appeal over the decision of the Board of Discipline and, therefore, on merits also, we do not find that a case is made out for claiming debarment ....