Home› India› The Institute of Chartered Accountants of India› In terms of the provisions of Section 21B 3 of the Chartered...
Date: 16-Jun-2023 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

Research with AI Agent Chat with Document Generate Summary Translate Helpful Share Add to Project Create Task

Executive Summary & Key Takeaways

What it means

  • The notification announces the removal of CA. Subodh Kumar Maheshwari (Membership No. 071569) from the Register of Members of the Institute of Chartered Accountants of India (ICAI) for a period of one year, effective from June 16, 2023. This action follows a disciplinary proceeding where CA. Subodh Kumar Maheshwari was found guilty of professional misconduct.

Key Changes

  • CA. Subodh Kumar Maheshwari (Membership No. 071569) is removed from the Register of Members for 1 year.
  • The removal is effective from June 16, 2023.
  • A penalty of Rs. 1,00,000/- (Rupees One Lakh only) has been imposed.
  • 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.
  • The misconduct falls under Item (4) of Part II of the Second Schedule and Item (2) of Part IV of the First Schedule to the Chartered Accountants Act, 1949.

Impact Analysis

Impact on CA. Subodh Kumar Maheshwari

  • Financial impact due to the imposed fine of Rs. 1,00,000/-.

Impact on ICAI Members

  • May increase scrutiny and compliance efforts by other members to avoid similar disciplinary actions.

Impact on Clients/Public

  • Increased confidence in the regulatory oversight of the ICAI in maintaining professional standards.

Suggested Action Items for ICAI

  • Review and reinforce ethical guidelines and professional standards for members.

Key Entities Referenced

CA. Subodh Kumar Maheshwari: Chartered Accountant with Membership No. 071569, who has been removed from the Register of Members for one year. The Institute of Chartered Accountants of India (ICAI): The regulatory body for Chartered Accountants in India, responsible for maintaining professional standards and ethical conduct. Disciplinary Committee: A committee within the ICAI responsible for investigating and addressing 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 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.
Official Source Record View Original Source →
See Full Document Text
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-16062023-246628 xxxGIDHxxx CG-DL-E-16062023-246628 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 416] नई ददल्ली, िुावार, िनू 16, 2023/ज्य ष्े ि 26, 1945 No. 416] NEW DELHI, FRIDAY, JUNE 16, 2023/JYAISHTHA 26, 1945 भारतीय सनदी लखे ाकार सस्ट्ं थान (ससं दीय अजधजनयम द्वारा स्ट्थाजित) अजधसचू ना नई ददल् ली, 16 िून, 2023 (चार्टडट अकाउंर्ेंट्स) स.ं िीआर/68/16/डीडी/26/2017/डीसी/811/2018.—चार्टड ट अकाउंर्ेंर् (वृज‍ तक और अन् य कदाचार के अन् वेषणोणऔ और 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 अनुिासन सजमजत न े सीए. सबु ोध कुमार महश्वे री (सदस्ट्यता सख्ं या 071569), संकल्ि, ई-5/10, हबीबगिं िजु लस थान े के सामन,े अरेरा कॉलोनी, भोिाल (मध्य प्रदिे ) 462016, को िूवोक्त अजधजनयम कप दसू री अनुसूची के भाग II कप मद (4) और िहली अनुसूची के भाग IV कप मद (2) के अथाटन् तगटत वृजतिकक और अन्य कदाचार का दोषणोी िाया ह ै और उसके िठरणामस्ट्वरूि अनिु ासन सजमजत न े िूवोक्त जनयमऔ के जनयम 19(1) के जनबंधनानुसार सुनवाई का अवसर प्रदान करने के िश्चात्, सीए. सबु ोध कुमार महश्वे री (सदस्ट्यता सख्ं या 071569) के नाम को 01 (एक) वषणोट कप अवजध के जलए सदस्ट्यऔ के रजिस्ट्र्र से हर्ाने का आदिे ददया ह ैऔर साथ ही केवल 1,00,000/- (एक लाख रुिए) रुिये का िुमाटना भी अजधरोजित दकया ह ै । अत: अनुिासन सजमजत के िूवोक्त आदेि के अनुसरण म ेंऔर िूवोक्त अजधजनयम कप धारा 20 कप उिधारा (2) द्वारा प्रदतिक िजक्तयऔ का प्रयोग करत े हुए चार्टड ट अकाउंर्ेंर् 3856 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] जवजनयम, 1988 के जवजनयम 18 के अतं गतट यह अजधसूजचत दकया िाता ह ै दक उक्त सीए. सबु ोध कुमार महश्वे री (सदस्ट्यता सख्ं या 071569) का नाम 16 िनू , 2023 स े01 (एक) वषणो टकप अवजध के जलए सदस्ट्यऔ के रजिस्ट्र्र स ेहर् िाएगा । सीए. (डा.) िय कुमार बत्रा, सजचव [जवज्ञािन-III/4/असा./196/2023-24] THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) NOTIFICATION New Delhi, the 16th June, 2023 (CHARTERED ACCOUNTANTS) No. PR/68/16/DD/26/2017/DC/811/2018.—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. Subodh Kumar Maheshwari (Membership No. 071569), Sankalp, E-5/10, Opposite Habibganj Police Station, Arera Colony, BHOPAL (Madhya Pradesh) 462016, guilty of Professional and Other Misconduct falling within the meaning of Item (4) of Part II of Second Schedule and Item (2) of Part IV of the First 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. Subodh Kumar Maheshwari (Membership No. 071569) from the Register of Members for a period of 01(one) year and also imposed a fine of Rs. 1,00,000/-(Rupees One Lakhs) only. 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 said CA. Subodh Kumar Maheshwari (Membership No. 071569), shall stand removed from the Register of Members for a period of 1(one) year with effect from 16th June , 2023. CA. (Dr.) JAI KUMAR BATRA, Secy. [ADVT.-III/4/Exty./196/2023-24] 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.

Continue your research

Related Documents from The Institute of Chartered Accountants of India