THE SECRETARY Vs. K. VENKATACHARYULU CHARTERED ACCOUNTANT

JUDGEMENT

(1.) THIS reference is made under Section 21(5) of the Chartered Accountants Act, as it stood in the year 2000. The facts, in brief, are as under:

(2.) HEARD Sri C.V. Rajiv Reddy, learned counsel for the petitioner. Obviously because the matter was pending for the past several years, there is no representation for the respondent.

(3.) VALUATION of closing stock had not been reported by the auditors and they had not associated themselves with the stock verification and these mattes were not reported or qualified, which was not as per the norms. Further, quantitative details of each class of goods traded by the Company had not been given in the accounts which was also against Schedule VI requirements.