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Date: 27-Aug-2024 Category: Extra Ordinary State: Union Government Country: India

In terms of the provisions of Section 21B 3 of the Chartered Accountants Act, 1949 read with Rule

Issued by The Institute of Chartered Accountants of India · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • The notification from the Institute of Chartered Accountants of India (ICAI) announces the removal of CA. Ramesh Kumar Maheshwari (Membership No. 058398) from the Register of Members for a period of three months, effective from August 23, 2024. This action follows a disciplinary proceeding where CA. Maheshwari was found guilty of professional misconduct.
  • A fine of Rs. 1,00,000/- was also imposed, which has already been paid by the respondent.

Key Changes

  • CA. Ramesh Kumar Maheshwari (Membership No. 058398) is barred from practicing as a Chartered Accountant for three months, starting August 23, 2024.
  • The disciplinary committee found CA. Maheshwari guilty of professional misconduct under Items (5), (6), (7) and (8) of Part I of the Second Schedule to the Chartered Accountants Act, 1949.
  • A penalty of Rs. 1,00,000/- was levied and has been paid by CA. Maheshwari.

Impact Analysis

Impact on CA. Ramesh Kumar Maheshwari

  • Financial impact of the fine, although it has already been paid.

Impact on Clients of CA. Ramesh Kumar Maheshwari

  • Potential disruption in ongoing engagements and projects.

Impact on ICAI

  • Demonstrates the disciplinary process and its enforcement.

Suggested Action Items

  • ICAI should update its records to reflect the suspension and ensure compliance with the order.

Key Entities Referenced

The Institute of Chartered Accountants of India (ICAI): The governing body for Chartered Accountants in India, responsible for setting standards, conducting examinations, and enforcing ethical conduct. CA. Ramesh Kumar Maheshwari: A Chartered Accountant and member of ICAI, who has been found guilty of professional misconduct and suspended from practice for three months. Chartered Accountants Act, 1949: The legislation that establishes and governs the ICAI and the profession of Chartered Accountancy in India. Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007: Rules outlining the procedures for investigating and handling cases of professional misconduct by Chartered Accountants. Chartered Accountants Regulations 1988: Regulations pertaining to the Chartered Accountants profession. Disciplinary Committee: A committee within the ICAI responsible for investigating and adjudicating cases of professional misconduct.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 xxxGIDHxxx सी.जी.-डी.एल.-अ.-27082024-256665 xxxGIDExxx CG-DL-E-27082024-256665 असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 662] नई ददल्ली, मगं लवार, अगस्ट्त 27, 2024/भाद्र 5, 1946 No. 662] NEW DELHI, TUESDAY, AUGUST 27, 2024/BHADRA 5, 1946 भारतीय सनदी लखे ाकार सस्ट्ं थान, नई ददल्ल ी (ससं दीय अजधजनयम द्वारा स्ट्थाजित) अजधसचू ना नई ददल् ली, 23 अगस्ट्त, 2024 (चार्टडट अकाउंर्ेंट्स) स.ं िीआर/235/2016/डीडी/261/2016/डीसी/1578/2022 .—चार्टड ट अकाउंर्ेंर् (वृज‍ तक र अ‍ य कदाचार के अ‍ वेषणोणऔ र मामलऔ के सचं ालन कप प्रदाया जनयम, 2007 के जनयम 18(17) के साथ िठित, चार्टडट अकाउंर्ेंर् अजधजनयम, 1949 कप धारा 21ख(3 के उिबंधऔ के जनबंधनानुसार अनिु ासन सजमजत ने सीए. रमिे कुमार महश्वे री (सदस्ट्यता सख्ं या 058398 , 16, जिठर्ि इंजडया स्ट्रीर्, जद्वतीय तल, कमरा न.ं 2डी, कोलकाता 700069 को िूवोक्त अजधजनयम कप दसू री अनुसूची के भाग I कप मद (5), (6), (7 र (8 के अथाट‍त गतट वृजिक कदाचार का दोषणोी अजभजनधाटठरत दकया ह ै र उसके िठरणामस्ट्वरूि अनिु ासन सजमजत ने िूवोक्त जनयमऔ के जनयम 19(1 के जनबंधनानुसार सुनवाई का अवसर प्रदान करन े के िश्चात,् सीए. रमिे कुमार महश्वे री (सदस्ट्यता सख्ं या 058398 के नाम को 03 (तीन मास कप अवजध के जलए सदस्ट्यऔ के रजिस्ट्र्र से हर्ाने का आदेि ददया र साथ ही 1,00,000/- रुिये (केवल एक लाख रुिए का िुमाटना भी अजधरोजित दकया, जिसका संदाय आदेि कप प्राजि से 90 ददन के भीतर दकया िाना है र अनुबंजधत समय के भीतर संदाय म ें व्यजताम कप दिा में उसके नाम को 01 (एक मास कप अजतठरक्त अवजध के जलए सदस्ट्यऔ के रजिस्ट्र्र स े हर्ा ददया िाएगा । चूंदक, प्र‍यथी न े िहल े ही अजधरोजित िुमाटन े का संदाय कर ददया ह,ै अत: अनिु ासन सजमजत के िूवोक्त आदेि के अनुसरण म ें र िूवोक्त अजधजनयम कप धारा 20 कप उिधारा (2) द्वारा प्रदि िजक्तयऔ का 5424 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] प्रयोग करते हुए चार्डट ट अकाउंर्ेंर् जवजनयम, 1988 के जवजनयम 18 के अधीन यह अजधसूजचत दकया िाता ह ै दक उक्त सीए. रमिे कुमार महश्वे री (सदस्ट्यता सख्ं या 058398 का नाम 23 अगस्ट्त, 2024 स े 03 (तीन मास कप अवजध के जलए सदस्ट्यऔ के रजिस्ट्र्र स ेहर् िाएगा । सीए. (डा. िय कुमार बत्रा, सजचव [जवज्ञािन-III/4/असा./428/2024-25] THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI (Set up by an Act of Parliament) NOTIFICATION New Delhi, the 23rd August, 2024 (CHARTERED ACCOUNTANTS) No. PR/235/2016/DD/261/2016/DC/1578/2022.—In terms of the provisions of Section 21B(3) of the Chartered Accountants Act, 1949 read with Rule 18(17) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, the Disciplinary Committee has held CA. Ramesh Kumar Maheshwari (Membership No. 058398), 16, British India Street, 2nd Floor, Room No. 2D, KOLKATA 700069, guilty of Professional Misconduct falling within the meaning of Items (5), (6), (7) and (8) of Part I of Second Schedule to the aforesaid Act and consequently after affording an opportunity of being heard in terms of Rule 19(1) of the aforesaid Rules, ordered for removal of name of CA. Ramesh Kumar Maheshwari (Membership No. 058398) from the Register of Members for a period of 03 (Three) months and also imposed a Fine of Rs. 1,00,000/-(Rupees One Lakh) only to be paid within a period of 90 days of receipt of the Order and in case of default in payment of fine within stipulated time, his name be removed for a further period of 1(One) month. Since, the Respondent has already paid the imposed fine, in pursuance of the aforesaid Order of the Disciplinary Committee and in exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations 1988, that the name of CA. Ramesh Kumar Maheshwari (Membership No. 058398), shall stand removed from the Register of Members for a period of 3 (Three) months with effect from 23rd August, 2024. CA. (Dr.) JAI KUMAR BATRA, Secy. [ADVT.-III/4/Exty./428/2024-25] 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.

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