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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 Overview

  • The notification announces the disciplinary action taken against CA. Sachin Madhukar Pachkhede (Membership No. 104660) by the Disciplinary Committee of the Institute of Chartered Accountants of India (ICAI).
  • The action follows findings of professional misconduct.

Key Changes

  • CA. Sachin Madhukar Pachkhede's name will be removed from the Register of Members for a period of 3 months, effective from June 28, 2024.
  • A fine of Rs. 1,00,000 (Rupees One Lakh) has been imposed on CA. Sachin Madhukar Pachkhede, payable within 60 days of receiving the order.
  • The disciplinary action is based on the Chartered Accountants Act, 1949 and the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007.

Impact Analysis

Impact on CA. Sachin Madhukar Pachkhede

  • Reputational damage due to the finding of professional misconduct.

Impact on Clients of CA. Sachin Madhukar Pachkhede

  • Need to find alternative arrangements for accounting and auditing needs during the suspension period.

Impact on ICAI and its Members

  • Serves as a deterrent for other members who may be considering unethical practices.

Suggested Action Items

  • ICAI should ensure that the suspension is effectively enforced and communicated to relevant stakeholders.

Key Entities Referenced

ICAI (The Institute of Chartered Accountants of India): The regulatory body for Chartered Accountants in India, responsible for setting standards, conducting examinations, and enforcing ethical conduct. CA. Sachin Madhukar Pachkhede: A Chartered Accountant and member of ICAI, who has been found guilty of professional misconduct and is subject to disciplinary action. Disciplinary Committee of ICAI: A committee within ICAI responsible for investigating and adjudicating cases of professional misconduct by members. 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 that outline the procedures for investigating and handling cases of professional misconduct by Chartered Accountants. Chartered Accountants Regulations 1988: Regulations framed by ICAI under the Chartered Accountants Act, 1949 to govern the conduct of its members.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-29062024-255026 xxxGIDHxxx CG-DL-E-29062024-255026 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 458] नई ददल्ली, िुिवार, िनू 28, 2024/आषाढ 7, 1946 No. 458] 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/253/2018/डीडी/186/आईएनएफ/2018/डीसी/1500/2021.—चार्टड ट अकाउंर्ेंर् (वृज‍ तक और अन् य कदाचार के अन् वेषणों और मामलों के संचालन 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. सजचन मधकु र िचखडे े (सदस्ट्यता सख्ं या 104660), माफटत सजचन िचखडे े, फ्लर्ै सख्ं या 301-बी, यि एवन्े य,ू प्लॉर् सख्ं या 51-सी, सक्े र्र 20, खारघर, नवी मबुं ई–410210 को िूवोक्त अजधजनयम की दसू री अनुसूची के भाग I की मद (5), (6), (7) और (9) 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. सजचन मधकु र िचखडे े (सदस्ट्यता सख्ं या 104660) के नाम को 03 (तीन) मास की अवजध के जलए सदस्ट्यों के रजिस्ट्र्र स े हर्ान े का आदेि ददया और साथ ही 1,00,000/- रुिये (केवल एक लाख रुिए) का िुमाटना भी अजधरोजित दकया, जिसका संदाय आदेि की प्राजि से 60 ददन के भीतर दकया िाना ह ै । अनिु ासन सजमजत के िवू ोक्त आदेि के अनुसरण म ें और िूवोक्त अजधजनयम की धारा 20 की उिधारा (2) द्वारा प्रदि िजक्तयों का प्रयोग करत े हुए चार्टडट अकाउंर्ेंर् जवजनयम, 1988 के जवजनयम 18 के अधीन यह अजधसूजचत दकया िाता ह ै दक सीए. सजचन मधकु र िचखडे े (सदस्ट्यता सख्ं या 104660) का नाम 28 िनू , 2024 स े03 (तीन) मास की अवजध के जलए सदस्ट्यों के रजिस्ट्र्र स ेहर् िाएगा । सीए. (डा.) िय कुमार बत्रा, सजचव [जवज्ञािन-III/4/असा./227/2024-25] 3844 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. PPR/253/2018/DD/186/INF/2018/DC/1500/2021.—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. Sachin Madhukar Pachkhede (Membership No. 104660), C/o. Sachin Pachkhede, Flat No.301-B, Yash Avenue, Plot No.51-C, Sector 20, Kharghar, NAVI MUMBAI-410210 guilty of Professional Misconduct falling within the meaning of Items (5), (6), (7) and (9) 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. Sachin Madhukar Pachkhede (Membership No. 104660) 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 60 days of receipt of the Order. 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. Sachin Madhukar Pachkhede (Membership No. 104660), shall stand removed from the Register of Members for a period of 3 (Three) months with effect from 28th June, 2024. CA. (Dr.) JAI KUMAR BATRA, Secretary [ADVT.-III/4/Exty./227/2024-25] 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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