Executive Summary:
This notification concerns disciplinary actions taken by the Institute of Chartered Accountants of India against CA. Gurukumar G. Choukimath. As a result of being found guilty of Other Misconduct, CA. Choukimath's name will be removed from the Register of Members for three months, effective August 28, 2018, and a penalty of Rs. 1,00,000 has been imposed. This action is in accordance with the Chartered Accountants Act, 1949, as amended.
Key Points / Main Content:
Disciplinary Action:
* CA. Gurukumar G. Choukimath, Membership No. 203108, has been found guilty of Other Misconduct.
* The Disciplinary Committee ordered the removal of CA. Choukimath's name from the Register of Members.
Penalty:
* CA. Choukimath is penalized with removal from the Register of Members for a period of three months.
* A penalty of Rs. 1,00,000 (Rupees One Lakh only) has been imposed.
Effective Date:
* The removal from the Register of Members is effective from August 28, 2018.
Legal Basis:
* The action is based on Section 21B3 of the Chartered Accountants Act, 1949, as amended in 2006.
* It is also in accordance with Rules 1817 and 191 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:
CA. Gurukumar G. Choukimath:
Impact: Temporary removal from the Register of Members, monetary penalty.
Action Required: Comply with the removal from the Register of Members for three months and pay the imposed penalty of Rs. 1,00,000.
The Institute of Chartered Accountants of India (ICAI):
Impact: Enforcement of disciplinary actions, maintenance of the Register of Members.
Action Required: Update the Register of Members to reflect the removal of CA. Choukimath and ensure compliance with the order.
Key Entities Referenced
The Institute of Chartered Accountants of India: An organization set up by an Act of Parliament, related to chartered accountancy.
Chartered Accountants Act, 1949: The Act of Parliament under which the Institute of Chartered Accountants of India was established and operates.
Chartered Accountants Amendment Act, 2006: An amendment to the Chartered Accountants Act, 1949.
Chartered Accountants Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases Rules, 2007: Rules governing the investigation of professional misconduct of chartered accountants.
Gurukumar G. Choukimath: A chartered accountant, member of The Institute of Chartered Accountants of India, found guilty of misconduct.
Disciplinary Committee: The committee that found CA. Gurukumar G. Choukimath guilty of misconduct.
Section 20 of the Chartered Accountants Act: Section of the Chartered Accountants Act related to the powers exercised in the notification.
Bengaluru, Karnataka: City in Karnataka where CA. Gurukumar G. Choukimath's address is located.
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वी. सागर, सिचव
[िवBापन-III/4/असा./201/18]
5053 GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
(Set up by an Act of Parliament)
NOTIFICATION
New Delhi, the 28th August, 2018
(CHARTERED ACCOUNTANTS)
No. PPR/P/13/S/11/DD/12/S/INF/DC/235/2012.—In terms of the provisions of Section 21B(3) of the
Chartered Accountants Act, 1949 [as amended by the Chartered Accountants (Amendment) Act, 2006] read with Rules
18(17) and 19(1) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and
Conduct of Cases) Rules, 2007, CA. Gurukumar G. Choukimath (Membership No. 203108) #72. I-Phase, I Main,
West of Chord Road, Manjunath Nagar, Bengaluru- 660010, has been held guilty of Other Misconduct falling within
the meaning of Clause (2) of Part IV of the First Schedule to the aforesaid Act by the Disciplinary Committee and
consequently ordered for removal of the name of aforesaid CA. Gurukumar G. Choukimath (Membership No. 203108)
from the Register of Members for a period of three (03) months and also imposed a penalty of Rs. 1,00,000/-(Rupees
One Lakh only) upon him. In pursuance thereof 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 said CA. Gurukumar G. Choukimath (Membership No. 203108), shall stand removed from the
Register of Members for a period of three (03) months with effect from 28th August, 2018.
V. SAGAR, Secy.
[ADVT. -III/4/Exty. /201/18]
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.