This notification, issued by The Institute of Chartered Accountants of India on May 2, 2016, announces disciplinary action against Shri Umesh Purushotham Pai, Membership No. 031198, a Chartered Accountant. Following an investigation under Section 21A(3) of the Chartered Accountants Act, 1949 (as amended in 2006) read with Rules 149 and 151 of the Chartered Accountants Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases Rules, 2007, the Board of Discipline found Shri Pai guilty of "Other Misconduct" as defined in Clause 2 of Part IV of the First Schedule of the Act. As a result, Shri Pai's name has been removed from the Register of Members for a period of one month, effective May 2, 2016. The notification is issued in accordance with Section 20(2) of the Act and Regulation 18 of the Chartered Accountants Regulations, 1988.
Key Entities Referenced
The Institute of Chartered Accountants of India: A professional accounting body in India, established by an Act of Parliament.
Chartered Accountants Act, 1949: An act of the Indian Parliament governing the regulation of the profession of Chartered Accountancy in India.
Chartered Accountants Amendment Act, 2006: An amendment to the Chartered Accountants Act, 1949.
Chartered Accountants Regulations, 1988: Regulations pertaining to the Chartered Accountants profession.
Chartered Accountants Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases Rules, 2007: Rules governing the investigation of misconduct by Chartered Accountants.
Umesh Purushotham Pai: A Chartered Accountant (Membership No. 031198) found guilty of Other Misconduct.
Dombivali, Maharashtra: A city in the Thane district of Maharashtra, India, where Umesh Purushotham Pai is located.
Board of Discipline: The disciplinary body that found Umesh Purushotham Pai guilty of misconduct.
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अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:4)द(cid:6) ली, 2 मई, 2016
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ककककाााा ननननाााामममम ततततााााररररीीीीखखखख 2222 ममममईईईई,,,, 2222000011116666 सससस ेे ेेएएएएकककक ((((1111)))) ममममाााासससस कककक++++ अअअअववववििििधधधध ककककेेेे ििििललललएएएए ससससदददद(cid:19)(cid:19)(cid:19)(cid:19)यययय//// ककककेेेे ररररििििजजजज(cid:19)(cid:19)(cid:19)(cid:19)टटटटरररर सससस ेे ेेहहहहटटटट जजजजााााएएएएगगगगाााा ।
वी. सागर, सिचव
[िवIापन-III/4/असा./56]
2151 GI/2016 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
(Set up by an Act of Parliament)
NOTIFICATION
New Delhi, the 2nd May, 2016
(CHARTERED ACCOUNTANTS)
No. DD/5/W/INF/12/BOD/130/13.—In terms of the provisions of Section 21A(3) read with Rules
14(9) and 15(1) of the Chartered Accountants (Procedure of Investigations of Professional and Other
Misconduct and Conduct of Cases) Rules, 2007, Shri Umesh Purushotham Pai (Membership No. 031198)
Chartered Accountant, 3rd Floor, Patil Bhavan, Opp. Railway Station, Dr. Path Road, Dombivali
(East), Thane (Dist)., Dombivali 421 201 has been found guilty of ‘Other Misconduct’ falling within the
meaning of Clause (2) of Part IV of First Schedule to the Chartered Accountants Act, 1949, [as amended by
the Chartered Accountants (Amendment) Act, 2006] by the Board of Discipline which ordered that the name
of aforesaid Shri Umesh Purushotham Pai be removed from the Register of Members for a period of one (1)
month. In pursuance thereof and in exercise of the powers conferred by sub-section (2) of Section 20 of the
aforesaid Act, read with Regulation 18 of the Chartered Accountants Regulations, 1988, it is hereby notified
that the name of said Shri Umesh Purushotham Pai, (Membership No. 031198) shall stand removed
from the Register of Members for a period of one (1) month with effect from 2nd May, 2016.
V. SAGAR, Secy.
[ADVT.-III/4/Exty./56]
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.