MAHENDRA KUMR MAHAJAN Vs. ICAI

JUDGEMENT

(1.) THIS writ petition lays a challenge to the order of the Appellate Authority dated 17.07.2012 of the Institute of Chartered Accountants of India (in short ICAI) and the reports/findings dated 17.10.2011 as well as order dated 01.02.2011 passed by the Disciplinary Committee.

(2.) THE net effect of the aforementioned orders and/or the report is that the petitioners has been found guilty of professional misconduct within the provisions of clause (11) of part 1 of First Schedule and clause (4) of part 1 of the Second Schedule of the Chartered Accountants Act, 1949 as amended by Chartered Accountant (Amendment) Act, 2006 (in short the C.A. Act). Briefly, the aforementioned report and orders came to be passed against the petitioner in the background of the following facts: 2.1 On 19.12.2007 respondent no. 2, the ex-managing director of a company by the name of Indo Rollhard Industries Limited (IRIL) filed a complaint with ICAI against the petitioner wherein the following allegations were made:

(3.) ON a consideration of the material on record, including the information sought for in respect of the allegations made, the Director (Discipline) came to a prima facie opinion that the petitioner was a guilty of professional and other misconduct falling in the First and Second schedule of the C.A. Act.