Home› India› The Institute of Chartered Accountants of India› In terms of the provisions of Section 21B 3 of the Chartered...
Date: 03-Jan-2025 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 Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases Rules

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

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Executive Summary & Key Takeaways

What it means

  • This gazette notification announces the removal of CA. Anand Kumar Jhunjhunwala's name from the Register of Members of the Institute of Chartered Accountants of India (ICAI) due to professional misconduct.
  • The removal is for a period of three years and one month, effective from January 3, 2025.

Key Changes

  • CA. Anand Kumar Jhunjhunwala (Membership No. 056613) has been found guilty of professional misconduct under items (5) and (7) of Part I of the Second Schedule to the Chartered Accountants Act, 1949.
  • The Disciplinary Committee initially ordered a removal for three years and imposed a fine of Rs. 5,00,000 to be paid within 90 days.
  • Failure to pay the fine within the stipulated time resulted in an additional one-month removal period.
  • Since the fine was not paid within the stipulated time, the total removal period is now three years and one month, effective from January 3, 2025.

Impact Analysis

Impact on CA. Anand Kumar Jhunjhunwala

  • He is ineligible to hold any position that requires ICAI membership.

Impact on Clients of CA. Anand Kumar Jhunjhunwala

  • Clients may need to review the work previously done by CA. Anand Kumar Jhunjhunwala.

Impact on ICAI

  • The ICAI's reputation as a regulatory body is reinforced.

Suggested Action Items

  • ICAI should review the reasons for the misconduct and consider if any changes to procedures or training are needed.

Key Entities Referenced

Institute of Chartered Accountants of India (ICAI): The professional body that regulates the Chartered Accountancy profession in India. Chartered Accountants Act, 1949: The primary legislation governing the Chartered Accountancy profession 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 professional misconduct by Chartered Accountants. Chartered Accountants Regulations, 1988: Regulations that provide operational details for the functioning of the ICAI Disciplinary Committee: The committee within ICAI responsible for investigating and adjudicating cases of professional misconduct. CA. Anand Kumar Jhunjhunwala: The Chartered Accountant who has been removed from the Register of Members.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-04012025-259920 xxxGIDHxxx CG-DL-E-04012025-259920 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 08] नई ददल्ली, िुिवार, िनवरी 3, 2025/िौष 13, 1946 No. 08] NEW DELHI, FRIDAY, JANUARY 3, 2025/PAUSHA 13, 1946 भारतीय सनदी लखे ाकार सस्ट्ं थान (ससं दीय अजधजनयम द्वारा स्ट्थाजित) अजधसचू ना नई ददल् ली, 3 िनवरी, 2025 (चार्टडट अकाउंर्ेंट्स) स.ं िीआर/29/2018/डीडी/78/2018/डीसी/1532/2022 .—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 टअकाउंर्ेंर् अजधजनयम, 1949 की धारा 21ख(3) के उिबंधों के जनबंधनानुसार अनुिासन सजमजत ने सीए. आनदं कुमार झनु झनु वाला (सदस्ट्यता सख्ं या 056613), 74/1, नारकेलडागं ा, रोड, कोलकाता-700054), को िूवोक्त अजधजनयम की दसू री अनुसूची के भाग I की मद (5) और (7) के अथाटन्त गतट वृजिक कदाचार का दोषी िहराया ह ैऔर इसके िठरणामस्ट्वरूि अनुिासन सजमजत न ेिूवोक्त जनयमों के जनयम 19(1) के जनबंधनानुसार सुनवाई का अवसर प्रदान करन े के िश्चात,् सीए. आनदं कुमार झनु झनु वाला (सदस्ट्यता सख्ं या 056613) के नाम को 03 (तीन) वष ट की अवजध के जलए सदस्ट्यों के रजिस्ट्र्र स े हर्ान े का आदेि ददया ह ै और साथ ही 5,00,000/- रुिए (केवल िांच लाख रुिए) का िुमाटना भी अजधरोजित दकया, जिसका संदाय 90 (नब्बे) ददन की अवजध के भीतर दकया िाना ह ै और अनुबंजधत समय के भीतर उक्त िुमाटने के संदाय म ें व्यजतिम की दिा म ें उसके नाम को 01 (एक) मास की अजतठरक्त अवजध के जलए सदस्ट्यों के रजिस्ट्र्र स े हर्ा ददया िाएगा । चदूं क, प्र‍यथी अनुबंजधत समय के भीतर अजधरोजित िुमाटने का सदं ाय करने म ें असफल रहा ह,ै अत: अनिु ासन सजमजत के िूवोक्त आदेि के अनुसरण में और 86 GI/2025 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] चार्टडट अकाउंर्ेंर् जवजनयम, 1988 के जवजनयम 18 के साथ िठित िूवोक्त अजधजनयम की धारा 20 की उिधारा (2) द्वारा प्रदि िजक्तयों का प्रयोग करते हुए यह अजधसूजचत दकया िाता ह ै दक उक्त सीए. आनदं कुमार झनु झनु वाला (सदस्ट्यता सख्ं या 056613) का नाम 3 िनवरी, 2025 स े03 (तीन) वष टऔर 01 (एक) मास की समदे कत अवजध [03 (तीन) वष टऔर अजतठरक्त 01 (एक) मास] के जलए सदस्ट्यों के रजिस्ट्र्र स े हर् िाएगा । सीए. (डा.) िय कुमार बत्रा, सजचव [जवज्ञािन-III/4/असा./864/2024-25] THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) NOTIFICATION New Delhi, the 3rd January, 2025 (Chartered Accountants) No. PR/29/2018/DD/78/2018/DC/1532/2022.—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. Anand Kumar Jhunjhunwala (Membership No. 056613), 74/1, Narkeldanga, Road, KOLKATA-700054, guilty of Professional Misconduct falling within the meaning of Items (5) and (7) 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. Anand Kumar Jhunjhunwala (Membership No. 056613) from the Register of Members for a period of 03(Three) years and also imposed a fine of Rs. 5,00,000/-(Rupees Five Lakhs only) to be paid within 90(ninety) days and in case of default in payment of fine within stipulated time his name shall be removed for a further period of 01(One) month. Since the Respondent had failed to pay the imposed fine within stipulated time, 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, read with Regulation 18 of the Chartered Accountants Regulations, 1988, it is hereby notified that the name of CA. Anand Kumar Jhunjhunwala (Membership No. 056613), shall stand removed from the Register of Members for a consolidated period 03(Three) years and 01(One) month[03(Three) years plus additional 01(One) month] with effect from 3rd January, 2025. CA. (Dr.) JAI KUMAR BATRA, Secy. [ADVT.-III/4/Exty./864/2024-25] 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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