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Date: 24-Mar-2023 Category: Extra Ordinary State: Union Government Country: India

In terms of the provisions of Section 21B 3 of the Chartered Accountants Act

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

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Executive Summary & Key Takeaways

What it means

  • The notification announces the removal of CA. Susanta Maity (Membership No. 052698) from the Register of Members of the Institute of Chartered Accountants of India (ICAI) for a period of two months, effective from March 24, 2023. This action is a consequence of professional misconduct and failure to pay a fine imposed by the Disciplinary Committee.

Key Changes

  • CA. Susanta Maity (Membership No. 052698) is found guilty of professional misconduct under Clause (1) of Part II of the Second Schedule to the Chartered Accountants Act, 1949.
  • The Disciplinary Committee initially ordered the removal of CA. Susanta Maity's name from the Register of Members for one month and imposed a fine of Rs. 5,00,000 to be paid within 90 days.
  • Failure to pay the fine within the stipulated 90 days resulted in an additional one-month removal from the Register of Members.
  • The total period of removal from the Register of Members is now two months (one month plus an additional month) effective from March 24, 2023.

Impact Analysis

Impact on CA. Susanta Maity

  • Required Action: CA. Susanta Maity should address the outstanding fine immediately to avoid further penalties and reputational harm. Furthermore, CA. Susanta Maity should consider seeking legal counsel to evaluate options for appealing the Disciplinary Committee's decision or negotiating a settlement.

Impact on Clients of CA. Susanta Maity

  • Required Action: Clients should be informed about the situation and assisted in transitioning to new service providers if necessary.

Impact on ICAI

  • Required Action: ICAI should ensure transparency in communicating the reasons for the disciplinary action to maintain public trust and confidence in the profession.

Impact on the Accounting Profession

  • Required Action: Accounting firms and professional organizations should reinforce ethical training and compliance programs for their members.

Key Entities Referenced

ICAI: The Institute of Chartered Accountants of India, a statutory body established by an Act of Parliament to regulate the profession of Chartered Accountancy in India. CA. Susanta Maity: A Chartered Accountant and member of ICAI (Membership No. 052698) who has been found guilty of professional misconduct. Disciplinary Committee: A committee within ICAI responsible for investigating and adjudicating cases of professional misconduct by Chartered Accountants. 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 outlining the procedures for investigating and handling cases of professional misconduct. Chartered Accountants Regulations, 1988: Regulations framed under the Chartered Accountants Act, 1949, providing detailed rules for the functioning of the ICAI and its members.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-25032023-244691 xxxGIDHxxx CG-DL-E-25032023-244691 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 186] नई ददल्ली, िुावार, माचच 24, 2023/चत्रै 3, 1945 No. 186] NEW DELHI, FRIDAY, MARCH 24, 2023/CHAITRA 3, 1945 भारतीय सनदी लखे ाकार सस्ट्ं थान, नई ददल्ल ी (ससं दीय अजधजनयम द्वारा स्ट्थाजित) अजधसचू ना नई ददल् ली, 24 माचच, 2023 (चार्चडच अकाउंर्ेंट्स) स.ं िीिीआर/िी/236/17/डीडी/220/र्ीएएमसी/आईएनएफ/2017/डीसी/1304/2020: चार्चडच अकाउंर्ेंर् (वृज‍ तक और अन् य कदाचार के अन् वेषणोणऔ और मामलऔ के संचालन कप प्रदाया जनयम, 2007 के जनयम 18(17) के साथ िठित, चार्चडच अकाउंर्ेंर् अजधजनयम, 1949 कप धारा 21ख(3 के उिबधं औ के जनबंधनानुसार अनिु ासन सजमजत ने सीए. सिु ातं मतै ी (सदस्ट्यता सख्ं या 052698 , सुिागिं िीओ, जिला जमदनािरु , जमदनािरु (िजिमी बगं ाल 721101, को िूवोक्त अजधजनयम कप दसू री अनुसूची के भाग 2 के खंड (1 के अथाचन् तगचत वृजिक कदाचार का दोषणोी िाया ह ै और उसके िठरणामस्ट्वरूि अनुिासन सजमजत ने िूवोक्त जनयमऔ के जनयम 19(1 के जनबंधनानुसार सुनवाई का अवसर प्रदान करने के ििात् उियुचक्त सीए. सिु ातं मतै ी (सदस्ट्यता सख्ं या 052698 के नाम को 01 (एक मास कप अवजध के जलए सदस्ट्यऔ के रजिस्ट्र्र स े हर्ाने का आदेि ददया ह ै और साथ ही केवल 5,00,000/- रुिय(े िांच लाख रुिए का िुमाचना लगाया, जिसका संदाय 90 ददनऔ के भीतर दकया िाना ह ैऔर अनुबंजधत समय के भीतर िुमाचन े के संदाय म ें व्यजताम कप दिा म ें उसके नाम को अजतठरक्त 01 (एक मास कप अवजध के जलए सदस्ट्यऔ के रजिस्ट्र्र स े हर्ा ददया िाएगा । चूंदक, प्र‍यथी अनुबंजधत समय के भीतर अजधरोजित िुमाचन े का संदाय करन े म ें असफल रहा है, अत: अनुिासन सजमजत के िूवोक्त आदेि के अनुसरण म ें और चार्चड च अकाउंर्ेंर् जवजनयम, 1988 के जवजनयम 18 के साथ िठित िूवोक्त अजधजनयम कप धारा 20 कप उिधारा (2) 1976 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] द्वारा प्रदि िजक्तयऔ का प्रयोग करत े हुए यह अजधसूजचत दकया िाता ह ै दक उक्त सीए. सिु ातं मतै ी (सदस्ट्यता सख्ं या 052698 का नाम 24 माच,च 2023 स े 02 (दो मास कप समदे कत [01 (एक मास और अजतठरक्त 01 (एक मास] अवजध के जलए सदस्ट्यऔ के रजिस्ट्र्र स ेहर् िाएगा । सीए. (डॉ. िय कुमार बत्रा, सजचव [जवज्ञािन-III/4/असा./712/2022-23] THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA, NEW DELHI (Set up by an Act of Parliament) NOTIFICATION New Delhi, the 24th March, 2023 (CHARTERED ACCOUNTANTS) No. PPR/P/236/2017/DD/220/TAMC/INF/2017/DC/1304/2020.—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. Susanta Maity (Membership No. 052698), Sujaganj PO, DT Midnapore, MIDNAPORE (West Bengal) 721101, guilty of Professional Misconduct falling within the meaning of Clause (1) of Part II 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. Susanta Maity (Membership No. 052698) from the Register of Members for a period of 01(One) month and also imposed a fine of Rs. 5,00,000/-(Rupees Five Lakhs) only to be paid within 90 days and in case of default in payment of fine within stipulated time, his name be removed for an additional period of 1(One) month. Since the Respondent has 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, it is hereby notified under Regulation 18 of the Chartered Accountants Regulations 1988, that the name of said CA. Susanta Maity (Membership No. 052698), shall stand removed for a consolidated period of 02(Two) months [01(One) month plus additional 01(one) month] with effect from 24th March, 2023. CA. (Dr.) JAI KUMAR BATRA, Secy. [ADVT.-III/4/Exty./712/2022-23] 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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