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Date: 22-Sep-2023 Category: Extra Ordinary State: Union Government Country: India

In terms of the provisions of Section 21B3 of the Chartered Accountants Act, 1949 read with Rule

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. Rajagopalan Vedanarayanan (Membership No. 029472) from the Register of Members of the Institute of Chartered Accountants of India (ICAI) for a period of 25 months, effective from September 22, 2023. This action follows a disciplinary proceeding where he was found guilty of professional misconduct.

Key Changes

  • CA. Rajagopalan Vedanarayanan (Membership No. 029472) is removed from the Register of Members for 25 months (2 years + 1 month) effective from September 22, 2023.
  • The disciplinary committee initially imposed a fine of Rs. 50,000 on CA. Rajagopalan Vedanarayanan, to be paid within 3 months.
  • Failure to pay the fine within the stipulated 3 months resulted in an additional 1-month removal from the Register of Members, leading to a total removal period of 25 months.

Impact Analysis

Impact on CA. Rajagopalan Vedanarayanan

  • Potential impact on existing client relationships and business opportunities.

Impact on Akash Foundations

  • The firm may need to make alternative arrangements to ensure compliance and continuity of services.

Impact on ICAI

  • Reinforces the disciplinary process and its consequences for professional misconduct.

Suggested Action Items

  • ICAI should update its records and ensure that CA. Rajagopalan Vedanarayanan's name is removed from the Register of Members for the specified duration.

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. Rajagopalan Vedanarayanan: A Chartered Accountant (Membership No. 029472) who has been found guilty of professional misconduct and removed from the Register of Members. Akash Foundations: The organization associated with CA. Rajagopalan Vedanarayanan, located in Chennai (Tamil Nadu). Chartered Accountants Act, 1949: The Act that establishes and governs the ICAI and the Chartered Accountancy profession in India. Section 21B(3) and Section 20 are specifically mentioned. Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007: Rules outlining the procedures for investigating professional misconduct by Chartered Accountants. Rule 18(17) and Rule 19(1) are specifically mentioned. Chartered Accountants Regulations, 1988: Regulations pertaining to the Chartered Accountancy profession. Regulation 18 is specifically mentioned.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 ससीी..जजीी..--डडीी..एएलल..--अअ..--2233009922002233--224488991199 xxxGIDHxxx CCGG--DDLL--EE--2233009922002233--224488991199 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 659] नई ददल्ली, िुावार, जसतम्ब र 22, 2023/भाद्र 31, 1945 No. 659] NEW DELHI, FRIDAY, SEPTEMBER 22, 2023/BHADRA 31, 1945 भारतीय सनदी लखे ाकार सस्ट्ं थान (ससं दीय अजधजनयम द्वारा स्ट्थाजित) अजधसचू ना नई ददल् ली, 22 जसतम्ब र, 2023 (चार्टडट अकाउंर्ेंट्स) स.ं िीआर/िी/428ए/2018/डीडी/100/2020/डीसी/1572/2022.—चार्टडट अकाउंर्ेंर् (वृज‍ तक र अ‍ य कदाचार के अ‍ वेषणोणऔ र मामलऔ के संचालन 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 ने सीए. रािगोिालन वदे नारायणन (सदस्ट्यता सख्ं या 029472 , आकाि फाउंडेिन, प्लॉर् नबं र 6, 17वीं स्ट्रीर्, चन्ने ई (तजमलनाडु 600042, को िूवोक्त अजधजनयम कप दसू री अनुसूची के भाग I कप मद (7 र (8 के अथाट‍त गतट वृजिक कदाचार का दोषणोी िाया ह ै र उसके िठरणामस्ट्वरूि अनिु ासन सजमजत न े िूवोक्त जनयमऔ के जनयम 19(1 के जनबंधनानुसार सुनवाई का अवसर प्रदान करने के िश्चात,् सीए. रािगोिालन वदे नारायणन (सदस्ट्यता सख्ं या 029472 के नाम को 02 (दो वषणो ट कप अवजध के जलए सदस्ट्यऔ के रजिस्ट्र्र से हर्ाने का आदिे ददया ह ै र साथ ही केवल 50,000/- (िचास हिार रुिए रुिय े का िुमाटना अजधरोजित दकया, जिसका संदाय 03 (तीन मास के भीतर दकया िाना ह ै र अनबु ंजधत समय के भीतर संदाय म ें व्यजताम कप दिा में उसके नाम को 01 (एक मास कप अजतठरक्त अवजध के जलए सदस्ट्यऔ के रजिस्ट्र्र स े हर्ा ददया िाएगा । चूंदक, प्र‍यथी अनुबंजधत समय के भीतर अजधरोजित िुमाटने का संदाय करने में असफल रहा है, अत: अनुिासन सजमजत के िूवोक्त आदेि के अनुसरण म ें र िूवोक्त अजधजनयम कप धारा 20 कप उिधारा (2) द्वारा प्रदि िजक्तयऔ का प्रयोग करत े हुए चार्टडट अकाउंर्ेंर् जवजनयम, 1988 के जवजनयम 18 के अधीन यह अजधसूजचत दकया िाता ह ै दक रािगोिालन वदे नारायणन 6049 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] (सदस्ट्यता सख्ं या 029472 का नाम 22 जसतबं र, 2023 स े25 (िच्चीस मास [02 (दो वषणो ट र अजतठरक्त 01 (एक मास] कप समदे कत अवजध के जलए सदस्ट्यऔ के रजिस्ट्र्र स ेहर् िाएगा । सीए. (डा. िय कुमार बत्रा, सजचव [जवज्ञािन-III/4/असा./442/2023-24] THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) NOTIFICATION New Delhi, the 22nd September, 2023 (CHARTERED ACCOUNTANTS) No. PR/G/428A/2018/DD/100/2020/DC/1572/2022.—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. Rajagopalan Vedanarayanan (Membership No. 029472), Akash Foundations, Plot No. 6, 17th Street, CHENNAI (Tamilnadu) 600042, guilty of Professional Misconduct falling within the meaning of Items (7) and (8) of Part I 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 the name of CA. Rajagopalan Vedanarayanan (Membership No. 029472) from the Register of Members for a period of 02(Two) years and also imposed a fine of Rs. 50,000/- (Rupees Fifty Thousand) only to be paid within 03(three) months and in case of default in payment of fine within stipulated time, his name be removed from the Register of Members for a further period of 01(One) month. Since the Respondent had 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. Rajagopalan Vedanarayanan (Membership No. 029472), shall stand removed for a consolidated period of 25(Twenty Five) months [02 (Two) years plus additional 01(one)month] with effect from 22nd September, 2023. CA. (Dr.) JAI KUMAR BATRA, Secy. [ADVT.-III/4/Exty./442/2023-24] 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.

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