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

## Policy Analysis Report: Disciplinary Action Against Chartered Accountant **1. Executive Summary:** This report analyzes a notification from the Institute of Chartered Accountants of India (ICAI) regarding disciplinary actions against Chartered Accountant (CA) Praveen Murarka. The notification details the Disciplinary Committee's finding of professional misconduct and the subsequent removal of CA. Murarka's name from the Register of Members for a consolidated period of nine months, along with a fine of Rs. 50,000. This report outlines the policy overview, rationale, specific penalties imposed, affected parties, implementation aspects, and expected outcomes based solely on the provided notification. **2. Introduction:** The purpose of this report is to provide an informative analysis of the notification issued by the Institute of Chartered Accountants of India (ICAI) concerning disciplinary actions against a member. This analysis is based solely on the information presented within the provided text. **3. Policy Overview:** This notification concerns the enforcement of the Chartered Accountants Act, 1949 and the Chartered Accountants Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases Rules, 2007. * **Core Objective(s):** The objective, as inferred from the text, is to maintain professional standards and ethical conduct within the Chartered Accountancy profession by investigating and penalizing instances of professional misconduct. **4. Background and Rationale:** The notification details the result of a disciplinary process against a Chartered Accountant. The rationale behind this action is to address and rectify instances of professional misconduct, thereby upholding the integrity and credibility of the accounting profession. The fact that disciplinary action was taken and publicized suggests a commitment to accountability and transparency. **5. Key Provisions / Changes:** This notification details disciplinary action and as such does not amend existing policies or enact new ones. The following outlines the key aspects of the notification: * **Specific Actions:** * Removal of CA. Praveen Murarka from the Register of Members for a consolidated period of 09 (Nine) months with effect from 17th April, 2025. * Imposition of a fine of Rs. 50,000 (Rupees Fifty Thousand only) in one of the cases. * **Basis for Action:** The disciplinary actions are based on the Disciplinary Committee's findings of professional and/or other misconduct, as per the Chartered Accountants Act, 1949, and related rules. The notification specifically references Item 2 of Part IV of the First Schedule and Item 7 of Part I and Item 1 of Part II of the Second Schedule to the Chartered Accountants Act, 1949 in one case, and Item 7 of Part I of Second Schedule to the Chartered Accountants Act, 1949 in the other. * **Consecutive Punishments:** The Committee ordered that the punishments imposed in the two cases are independent and shall run consecutively. **6. Target Audience and Stakeholders:** Based on the provided text, the primary target audience and stakeholders are: * The members of the Institute of Chartered Accountants of India (ICAI). * CA. Praveen Murarka (the individual subject to the disciplinary action). * Clients or entities who may have been affected by the alleged misconduct. * The general public, to maintain confidence in the Chartered Accountancy profession. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** * The Institute of Chartered Accountants of India (ICAI). * The Disciplinary Committee of the ICAI. * **Timelines and Procedures:** * The removal from the Register of Members is effective from April 17th, 2025. * The process follows the Chartered Accountants Act, 1949, and related rules, including the Chartered Accountants Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases Rules, 2007. **8. Expected Outcomes / Impact of Changes:** The likely intended outcome of these specific actions is to: * Reinforce ethical standards within the Chartered Accountancy profession. * Deter future misconduct by sending a clear message about accountability. * Protect the public interest by removing individuals found guilty of professional misconduct. * Maintain the reputation and integrity of the ICAI. **9. Conclusion:** The notification details the disciplinary actions taken against CA. Praveen Murarka for professional misconduct. The actions, including removal from the Register of Members and a fine, aim to uphold professional standards and protect the public interest. This notification serves as a reminder of the ICAI's commitment to enforcing ethical conduct within the Chartered Accountancy profession and maintaining public trust.

Key Entities Referenced