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Date: 30-May-2024 Category: Extra Ordinary State: Union Government Country: India

The Hon ble High Court of Telangana has, in pursuance of Section 21 6 c 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 Sri Rama Chandra Rao Vemuri (Membership No. 203292) from the Register of Members of the Institute of Chartered Accountants of India (ICAI) for a period of six months, effective from May 1, 2024, to October 31, 2024. This action follows an order from the Hon'ble High Court of Telangana due to professional misconduct.

Key Changes

  • Sri Rama Chandra Rao Vemuri is found guilty of 'Professional Misconduct' and 'Other Misconduct' under the Chartered Accountants Act, 1949.
  • His name is removed from the Register of Members for six months, from May 1, 2024, to October 31, 2024.
  • His membership is suspended for six months, during which he cannot practice as a Chartered Accountant.
  • The order is based on the Hon'ble High Court of Telangana's directive on April 26, 2024, in Reference Case No. 2/2013, pursuant to Section 21(6)(c) of the Chartered Accountants Act, 1949.

Impact Analysis

Sri Rama Chandra Rao Vemuri

  • Action: Must comply with the suspension order and refrain from practicing as a Chartered Accountant during the specified period. Should seek legal counsel if he wishes to appeal the decision.

Clients of Sri Rama Chandra Rao Vemuri

  • Action: Should be informed of the situation and assisted in transitioning to another qualified professional to ensure continuity of services.

ICAI and its Members

  • Action: Update records to reflect the suspension and ensure compliance with the High Court's order. Communicate the decision to the relevant stakeholders and the general membership to maintain transparency.

General Public

  • Action: The notification serves as a public record of disciplinary actions taken against members who violate professional standards.

Key Entities Referenced

Institute of Chartered Accountants of India (ICAI): The governing body for the Chartered Accountancy profession in India, responsible for setting standards, conducting examinations, and regulating the conduct of its members. Hon'ble High Court of Telangana: The judicial body that issued the order leading to the suspension of Sri Rama Chandra Rao Vemuri's membership. Sri Rama Chandra Rao Vemuri: The Chartered Accountant who is the subject of this disciplinary action (Membership No. 203292). Chartered Accountants Act, 1949: The legislation that governs the Chartered Accountancy profession in India, outlining the rules, regulations, and ethical standards for Chartered Accountants. Chartered Accountants Regulations, 1988: Regulations framed under the Chartered Accountants Act, 1949, providing detailed procedures and guidelines for the functioning of the ICAI and the conduct of its members.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-01062024-254499 xxxGIDHxxx CG-DL-E-01062024-254499 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 385] नई ददल्ली, बहृ स्ट्ि जतवार, मई 30, 2024/ज्य ष्े ि 9, 1946 No. 385] NEW DELHI, THURSDAY, MAY 30, 2024/JYAISHTHA 9, 1946 भारतीय चार्टड ट एकाउंर्ेंट्स सस्ट्ं थान (ससं द ्के अजधजनयम द्वारा स्ट्थाजित) अजधसचू ना नई ददल् ली, 13 मई, 2024 (चार्टडट एकाउंर्ेंट्स) स.ं 29-सीए/लॉ/डी-301/2024.—माननीय तले ंगाना उच्च न्यायालय न,े चार्टड ट अकाउंर्ेंर् अजधजनयम, 1949 की धारा 21(6)(ग) के अनुसरण म ें जनदेि मामला स.ं 2/2013 म ें तारीख 26 अप्रलै , 2024 को यह आदेि ददया ह ै दक श्री रामा चंद्रा राव वेमुरी, चार्टड ट अकाउंर्ेंर् (सदस्ट्यता स.ं 203292) आवासीय िता : 11-3-370/1, श्रीजनवास नगर, फ्लेर् स.ं 302, कमल तरुण अिार्टमेंट्स, समीि प्रसना वेंकर्श्वरा स्ट्वामी मंददर, जसकंदराबाद (तले गं ाना) भारत – 500061 और वृजिक िता : फ्लेर् स.ं 904ए 9वां तल, कमर्िटयल ब्लॉक, र्ी19 र्ावसट, हदै राबाद (तले गं ाना) भारत – 500003 के नाम को, उन्ह ें चार्टड ट अकाउंर्ेंर् अजधजनयम, 1949 की दसू री अनसु ूची के भाग I के खंड (5), (6), (7) और (8) के अथाांतगतट “वृजिक कदाचार” और धारा 21 के साथ िठित धारा 22 के अधीन “अन्य कदाचार” का दोषी िाए िान े के िश्चात ्छह मास की अवजध के सदस्ट्यों के रजिस्ट्र्र स े हर्ा ददया िाए । यह भी आदेि दकया गया दक उनकी सदस्ट्यता 01.05.2024 स े आरंभ करत े हुए 31.10.2024 तक छह (6) मास की अवजध के जलए जनलंजबत हो िाएगी और इसके िठरणामस्ट्वरूि वह चार्टड ट अकाउंर्ेंर् के रूि म ें व्यवसाय या कृत्य नहीं करेंग े । 3300 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] अत:, अब चार्टडट अकाउंर्ेंर् जवजनयम, 1988 के जवजनयम 18 के साथ िठित उक्त अजधजनयम की धारा 20 की उिधारा (2) के जनबंधनानुसार, यह अजधसूजचत दकया िाता ह ै दक श्री रामा चंद्रा राव वेमुरी, चार्टडट अकाउंर्ेंर् (सदस्ट्यता स.ं 203292) का नाम, माननीय उच्च न्यायालय के तारीख 26.04.2024 के जनदेि के अनिु ालन म ें 01.05.2024 स े छह मास की अवजध के जलए सदस्ट्यों के रजिस्ट्र्र स ेहर् िाएगा । सीए. (डा.) िय कुमार बत्रा, सजचव [जवज्ञािन-III/4/असा./154/2024-25] THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up under an Act of Parliament) NOTIFICATION New Delhi, the 13th May, 2024 (CHARTERED ACCOUNTANTS) No. 29-CA/Law/D-301/2024.—The Hon’ble High Court of Telangana has, in pursuance of Section 21(6)(c) of the Chartered Accountants Act, 1949 in Reference Case No. 2/2013, ordered on 26th April, 2024 that the name of Sri Rama Chandra Rao Vemuri, Chartered Accountant (M.No. 203292), Residential Address :11-3-370/1, Srinivas Nagar, Flat No. 302, Kamal Tarun Apartments Near Prasana Venkateswara Swamy Temple, Secunderabad (Telangana) India – 500061 and Professional Address: Flat No 904 9th Floor, Commercial Block, T19 Towers, Hyderabad (Telangana) India -500003 is removed from the Register of Members for a period of six months after finding him guilty of “Professional Misconduct” falling within the meaning of Clauses (5), (6), (7) and (8) of Part-I of Second Schedule and “Other Misconduct” under Section 22 read with Section 21 of the Chartered Accountants Act, 1949. It was further ordered that his membership shall stand suspended for Six (06) months starting from 01-05- 2024 till 31-10-2024 and as a result during that period he shall not practice or function as a Chartered Accountant. Now, therefore, in terms of sub-section (2) of Section 20 of the said Act read with Regulation 18 of the Chartered Accountants Regulations, 1988, it is hereby notified that the name of Sri Rama Chandra Rao Vemuri (M.No. 203292) stands removed from the Register of Members for period of six months w.e.f. 01.05.2024 in compliance with the direction of Hon’ble High Court Order dated 26-04-2024. CA. (Dr.) JAI KUMAR BATRA, Secy. [ADVT.-III/4/Exty./154/2024-25] 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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