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

In terms of the provisions of Section 21B3 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. Sandhya Jayesh Vasandani (Membership No. 128973) from the Register of Members of the Institute of Chartered Accountants of India (ICAI) for a period of one year, effective from March 24, 2023. This action follows a finding of professional misconduct by the Disciplinary Committee.

Key Changes

  • CA. Sandhya Jayesh Vasandani (Membership No. 128973) is removed from the Register of Members for one year, starting March 24, 2023.
  • The Disciplinary Committee found CA. Vasandani guilty of professional misconduct under Items (5) and (7) of Part I of the Second Schedule to the Chartered Accountants Act, 1949.
  • A fine of Rs. 1,00,000 (Rupees One Lakh) has been imposed on CA. Sandhya Jayesh Vasandani.
  • The action is taken under Section 21B(3) of the Chartered Accountants Act, 1949, read with Rule 18(17) and Rule 19(1) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, and in exercise of powers conferred by sub-section (2) of Section 20 of the aforesaid Act and Regulation 18 of the Chartered Accountants Regulations 1988.

Impact Analysis

Suggested Action Items

  • Monitor the situation and ensure compliance with the ICAI's directives.

Impact on CA. Sandhya Jayesh Vasandani

  • Required to rectify the misconduct to avoid future penalties.

Impact on Clients of CA. Sandhya Jayesh Vasandani

  • Need to ensure proper handover of client information and ongoing work.

Impact on ICAI

  • May lead to increased scrutiny of Chartered Accountants to ensure compliance with ethical guidelines.

Key Entities Referenced

ICAI (Institute of Chartered Accountants of India): The regulatory body for Chartered Accountants in India, established by an Act of Parliament. CA. Sandhya Jayesh Vasandani: A Chartered Accountant and member of ICAI (Membership No. 128973) who has been found guilty of professional misconduct. Chartered Accountants Act, 1949: The primary legislation governing the profession of Chartered Accountancy in India. 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. Chartered Accountants Regulations, 1988: Regulations framed under the Chartered Accountants Act, 1949, providing detailed rules for the functioning of the ICAI and its members. Disciplinary Committee: A committee within the ICAI responsible for investigating and addressing cases of professional misconduct by Chartered Accountants.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-25032023-244678 xxxGIDHxxx CG-DL-E-25032023-244678 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 191] नई ददल्ली, िुावार, माचच 24, 2023/चत्र 3, 1945 No. 191] 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/266/2014/डीडी/296/2014/डीसी/1476/2021.—चार्चडच अकाउंर्ेंर् (वृज‍ तक और अन् य कदाचार के अन् वेषणोणऔ और मामलऔ के संचालन कप प्रदायान जनयम, 2007 के जनयम 18(17) के साथ िठित, चार्चडच अकाउंर्ेंर् अजधजनयम, 1949 कप धारा 21ख(3न के उिबंधऔ के जनबंधनानुसार अनुिासन सजमजत ने सीए. सध्ं या ियिे वासनदानी (सदस्ट्यता सख्ं या 128973न, एमआईिी 386, के के नगर, सेक्र्र 4, रान्ना िाकच, अहमदाबाद (गिु रातन 380061, को िूवोक्त अजधजनयम कप दसू री अनुसूची के भाग 1 कप मद (5) और (7) के अथाचन्त गतच वृजतिकक कदाचार का दोषणोी िाया ह और उसके िठरणामस्ट्वूपि अनुिासन सजमजत न े िूवोक्त जनयमऔ के जनयम 19(1) के जनबधं नानुसार सनु वाई का अवसर प्रदान करन े के िश्चात ् सीए. सध्ं या ियिे वासनदानी (सदस्ट्यता सख्ं या 128973न के नाम को 01 (एकन वषणो च कप अवजध के जलए सदस्ट्यऔ के रजिस्ट्र्र स े हर्ाने का आदेि ददया ह और साथ ही केवल 1,00,000/- (एक लाख रुिएन रुिय े का िुमाचना लगाया । अनुिासन सजमजत के िूवोक्त आदिे के अनुसरण म ेंऔर िूवोक्त अजधजनयम कप धारा 20 कप उिधारा (2) द्वारा प्रदतिक िजक्तयऔ का प्रयोग करते हुए, चार्चडच अकाउंर्ेंर् जवजनयम, 1988 के जवजनयम 18 के अधीन यह अजधसूजचत दकया िाता ह दक उक्त सीए. सध्ं या ियिे 1981 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] वासनदानी (सदस्ट्यता सख्ं या 128973न का नाम 24 माच,च 2023 स े 01 (एकन वषणो च कप अवजध के जलए सदस्ट्यऔ के रजिस्ट्र्र स े हर् िाएगा । सीए. (डॉ.न िय कुमार बत्रा, सजचव [जवज्ञािन-III/4/असा./717/2022-23] 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. PR/266/2014/DD/296/2014/DC/1476/2021.—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. Sandhya Jayesh Vasandani(Membership No. 128973), M I G 386, K K Nagar, Sector 4, Ranna Park, AHMEDABAD(Gujarat) 380061, guilty of Professional Misconduct falling within the meaning of Items (5) and (7) 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 name of CA. Sandhya Jayesh Vasandani(Membership No. 128973) from the Register of Members for a period of 01(One) year and also imposed a fine of Rs. 1,00,000/-(Rupees One Lakh) only. 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. Sandhya Jayesh Vasandani(Membership No. 128973), shall stand removed from the Register of Members for a period of 01(One) year with effect from 24th March, 2023. CA. (Dr.) JAI KUMAR BATRA, Secy. [ADVT.-III/4/Exty./717/2022-23] 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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