This notification, issued by the Council of the Institute of Chartered Accountants of India on March 3, 2016, announces the removal of Shri Subhash Chand Panchal (Membership No. 093533), residing at A-10, First Floor, MGS Chambers, Nehru Ground, NIT, Faridabad-121001, from the Register of Members for a period of one year, effective April 1, 2016. This action follows an order from the High Court of Punjab and Haryana, dated May 5, 2014, in Civil Reference No. 42012, pursuant to Section 216c of The Chartered Accountants Act, finding Shri Panchal guilty of professional misconduct under Sections 21 and 22 of the Act. During this period of removal, Shri Panchal is prohibited from practicing as a Chartered Accountant. The notification was issued by V. Sagar, Secretary, The Institute of Chartered Accountants of India.
Key Entities Referenced
The Institute of Chartered Accountants of India: An organisation set up under an Act of Parliament.
Chartered Accountants Act, 1949: The Act under which powers are conferred and misconduct is judged.
Chartered Accountants Regulations, 1988: Regulations read with the Chartered Accountants Act.
High Court of Punjab and Haryana: The court that ordered the removal of the member's name.
Shri Subhash Chand Panchal: The individual whose name is being removed from the Register of Members.
Faridabad, Haryana: The city and state where Shri Subhash Chand Panchal's address is located.
Register of Members: The register from which Shri Subhash Chand Panchal's name is removed.
Civil Reference No. 42012: The case number related to the order of the High Court of Punjab and Haryana.
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1358 GI/2016 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
(Set up under an Act of Parliament)
NOTIFICATION
New Delhi, the 3rd March, 2016
(CHARTERED ACCOUNTANTS)
No. 29-CA/Law/D-280/2016.—In exercise of the powers conferred by sub-section (2) of Section 20 of The
Chartered Accountants Act, 1949 read with Regulation 18 of the Chartered Accountants Regulations, 1988, it is hereby
notified by the Council of the Institute of Chartered Accountants of India that the Hon’ble High Court of Punjab and
Haryana has, in pursuance of Section 21(6)(c) of the said Act, in Civil Reference No. 4/2012, ordered on 5th May, 2014 that
the name of Shri Subhash Chand Panchal, A 10 First Floor, MGS Chambers, Nehru Ground, NIT, Faridabad- 121001 (M. No.
093533), be removed from the Register of Members for a period of one year for having been found guilty of ‘other
misconduct’ falling under Section 22 read with Section 21 of the Chartered Accountants Act, 1949. Accordingly, it is
hereby informed that the name of the said Shri Subhash Chand Panchal shall stand removed from the Register of Members
for a period of one year w.e.f. 1st April, 2016. During that period he shall not practise as a Chartered Accountant in terms
of the said Order of the Hon’ble High Court of Punjab & Haryana.
V. SAGAR, Secy.
[ADVT-III/4/Exty./405]
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and Published by the Controller of Publications, Delhi-110054.