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

## Report on Notification Regarding Disciplinary Action by the Institute of Chartered Accountants of India **1. Executive Summary:** This report analyzes a notification issued by the Institute of Chartered Accountants of India (ICAI) regarding disciplinary action against CA. Subhash Chander Sharma. The notification, published in the Gazette of India on April 17, 2025, details the removal of Mr. Sharma's name from the Register of Members for a period of one month due to professional misconduct. The notification serves to inform the public and relevant stakeholders of this disciplinary measure. **2. Introduction:** This report aims to provide a comprehensive overview of a notification published by the ICAI, based solely on the text provided. The notification concerns disciplinary action taken against a member of the ICAI. **3. Policy Overview:** * This notification pertains to the enforcement of the Chartered Accountants Act, 1949, specifically related to disciplinary procedures for professional misconduct. * **Core Objective:** Based on the provided text, the core objective is to ensure the integrity and accountability of chartered accountants by enforcing disciplinary measures against those found guilty of professional misconduct. **4. Background and Rationale:** * This notification is not a new policy but an implementation of existing disciplinary procedures outlined in the Chartered Accountants Act, 1949 and related rules and regulations. * The rationale for this specific notification is the Disciplinary Committee's finding that CA. Subhash Chander Sharma was guilty of professional and other misconduct. The notification serves to inform the public and relevant stakeholders of the disciplinary action taken as a result of these findings. **5. Key Provisions / Changes:** This notification details the implementation of disciplinary action against CA. Subhash Chander Sharma. The key provisions are: * Finding of Guilt: The Disciplinary Committee found CA. Subhash Chander Sharma guilty of Professional and Other Misconduct falling within the meaning of Item 7 of Part I of Second Schedule and Item 2 of Part IV of First Schedule to the Chartered Accountants Act, 1949. * Removal from Register: The primary action is the removal of CA. Subhash Chander Sharma's name from the Register of Members for a period of one month. * Effective Date: The removal is effective from April 17, 2025. * Legal Basis: The action is taken in accordance with Section 21B3 of the Chartered Accountants Act, 1949, Rule 1817 of the Chartered Accountants Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases Rules, 2007, and other relevant regulations. * Section 20(2) and Regulation 18 mentioned indicate the empowerment and framework through which the ICAI is able to remove members from the registry. **6. Target Audience and Stakeholders:** Based on the text, the target audience and stakeholders include: * The members of the Institute of Chartered Accountants of India. * Clients and potential clients of CA. Subhash Chander Sharma. * Regulatory bodies and other relevant authorities. * The general public, to maintain transparency and confidence in the profession. **7. Implementation Aspects (Inferred):** * **Responsible Agency:** The Institute of Chartered Accountants of India (ICAI), specifically the Disciplinary Committee. The Secretary of the ICAI, CA. Dr. Jai Kumar Batra, is responsible for the notification. * **Timelines:** The removal from the Register is for a period of one month, effective from April 17, 2025. * **Procedures:** The notification references specific sections of the Chartered Accountants Act and related rules, indicating adherence to established disciplinary procedures. **8. Expected Outcomes / Impact of Changes:** The likely intended outcomes of this notification include: * Enforcement of ethical standards within the chartered accountancy profession. * Deterrence of professional misconduct by other members. * Maintenance of public trust and confidence in the integrity of chartered accountants. * Temporary disruption of CA. Subhash Chander Sharma's professional practice. **9. Conclusion:** The notification regarding the disciplinary action against CA. Subhash Chander Sharma highlights the ICAI's commitment to upholding professional standards and taking action against misconduct. The removal from the Register of Members for one month serves as a consequence for violating established ethical guidelines and a message to the profession regarding accountability.

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