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Date: 28-Jun-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 18 17 of the Chartered Accountants

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

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Executive Summary & Key Takeaways

Gazette Notification Description

  • This Extraordinary Gazette of India notification announces the temporary removal of a Chartered Accountant (CA) from the Register of Members of the Institute of Chartered Accountants of India (ICAI).

Key Changes

  • CA N Narasimhan (Membership No. 081983) has been found guilty of professional misconduct under Clauses (5), (7), and (8) of Part I of the Second Schedule of the Chartered Accountants Act, 1949.
  • The Disciplinary Committee of the ICAI ordered the removal of his name from the Register of Members for a period of six months.
  • The removal is effective from June 28, 2024.
  • The action is taken under Section 21B(3) of the Chartered Accountants Act, 1949, Rule 18(17) and Rule 19(1) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, and Regulation 18 of the Chartered Accountants Regulations 1988.

Impact Analysis

Impact on CA N Narasimhan

  • Potential reputational damage.

Impact on ICAI

  • Potential for increased scrutiny of its disciplinary processes.

Impact on Public

  • Potential disruption to clients of CA N Narasimhan during his suspension.

Suggested Action Items

  • ICAI should communicate the decision clearly to the public and stakeholders.

Key Entities Referenced

Institute of Chartered Accountants of India (ICAI): The professional body for Chartered Accountants in India, responsible for setting standards, regulating the profession, and conducting disciplinary proceedings. Chartered Accountants Act, 1949: The primary legislation governing 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 professional misconduct among Chartered Accountants. Chartered Accountants Regulations, 1988: Regulations governing various aspects of the Chartered Accountancy profession. CA N Narasimhan: A Chartered Accountant whose membership has been temporarily suspended.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-29062024-255027 xxxGIDHxxx CG-DL-E-29062024-255027 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 459] नई ददल्ली, िुिवार, िनू 28, 2024/आषाढ 7, 1946 No. 459] NEW DELHI, FRIDAY, JUNE 28, 2024/ASHADHA 7, 1946 भारतीय सनदी लखे ाकार सस्ट्ं थान, नई ददल्ल ी (ससं दीय अजधजनयम द्वारा स्ट्थाजित) अजधसचू ना नई ददल् ली, 28 िून, 2024 (चार्टडट अकाउंर्ेंट्स) स.ं िीआर/111/2014/डीडी/122/2014/डीसी/610/2017.—चार्टड ट अकाउंर्ेंर् (वृज‍ तक और अन् य कदाचार के अन् वेषणों और मामलों के सचं ालन की प्रदिया) जनयम, 2007 के जनयम 18(17) के साथ िठित, चार्टड ट अकाउंर्ेंर् अजधजनयम, 1949 की धारा 21ख(3) के उिबंधों के जनबंधनानुसार अनुिासन सजमजत ने सीए. एन नरजसम्हन, (सदस्ट्यता सख्ं या 081983), 11, हसं भवन, 1 बहादरु िाह िफर माग,ट नई ददल्ली–110002 को िूवोक्त अजधजनयम की दसू री अनुसूची के भाग I के खडं (5), (7) और (8) के अथाटन् तगटत वृजिक कदाचार का दोषी अजभजनधाटठरत दकया ह ै और उसके िठरणामस्ट्वरूि अनुिासन सजमजत ने िूवोक्त जनयमों के जनयम 19(1) के जनबंधनानुसार सुनवाई का अवसर प्रदान करने के िश्चात,् सीए. एन नरजसम्हन (सदस्ट्यता सख्ं या 081983) के नाम को 06 (छह) मास की अवजध के जलए सदस्ट्यों के रजिस्ट्र्र स े हर्ाने का आदिे ददया । अनुिासन सजमजत के िूवोक्त आदेि के अनुसरण म ें और िूवोक्त अजधजनयम की धारा 20 की उिधारा (2) द्वारा प्रदि िजक्तयों का प्रयोग करत े हुए चार्टड ट अकाउंर्ेंर् जवजनयम, 1988 के जवजनयम 18 के अधीन यह अजधसूजचत दकया िाता ह ैदक सीए. एन नरजसम्हन (सदस्ट्यता सख्ं या 081983) का नाम 28 िनू , 2024 स े 06 (छह) मास की अवजध के जलए सदस्ट्यों के रजिस्ट्र्र स ेहर् िाएगा । सीए. (डा.) िय कुमार बत्रा, सजचव [जवज्ञािन-III/4/असा./228/2024-25] 3845 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI (Set up by an Act of Parliament) NOTIFICATION New Delhi, the 28th June, 2024 (CHARTERED ACCOUNTANTS) No. PR/111/2014/DD/122/2014/DC/610/2017.—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. N Narasimhan, (Membership No. 081983), 11, HANS BHAWAN, 1 BAHADURSHAH ZAFAR MARG, NEW DELHI-110002, guilty of Professional Misconduct falling within the meaning of Clauses (5) (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. N Narasimhan, (Membership No. 081983) from the Register of Members for a period of 06(Six) months. 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. N Narasimhan, (Membership No. 081983), shall stand removed from the Register of Members for a period of 06(Six) months with effect from 28th June, 2024. CA. (Dr.) JAI KUMAR BATRA, Secretary [ADVT.-III/4/Exty./228/2024-25] 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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