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Bombay High Court Upholds Disciplinary Action Against Chartered Accountant for Professional Misconduct in Loan Transaction. Failure to Repay Loan Obtained from Client Constitutes Misconduct Under Chartered Accountants Act, 1949.

The Institute of Chartered Accountants of India (ICAI) filed a reference under Section 21(5) of the Chartered Accountants Act, 1949, against the respo...

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Supreme Court Upholds Reference in Chartered Accountants Act Case Due to Misconduct as Court-Appointed Liquidator. Professional Misconduct Includes Conduct Rendering Member Unfit Under Section 22 of Chartered Accountants Act, 1949.

The Supreme Court considered an appeal by the Council of the Institute of Chartered Accountants against an order of the High Court rejecting a referen...

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Supreme Court Allows Transfer of Writ Petitions Challenging ICAI Guidelines on Tax Audit Assignments to Avoid Multiplicity of Proceedings. The Court Held That the Issue Involves a Question of Law of General Public Importance Under Article 139-A(1) of the Constitution.

The Institute of Chartered Accountants of India (ICAI) filed transfer petitions under Article 139-A(1) of the Constitution read with Order XL Rule 1 o...

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Bombay High Court Delivers Oral Judgment on Petitions Challenging SEBI's Show Cause Notices to Auditors of Satyam Computers. Question of SEBI's Jurisdiction under Sections 11, 11B, and 11(4) of SEBI Act Raised in Wake of Satyam Fraud Disclosure.

The matter arose from writ petitions filed by Price Waterhouse & Co. and other chartered accountant firms along with individual partners challenging t...

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Bombay High Court Upholds Circular Requiring Audit by Chartered Accountants or Certified Auditors in Cooperative Societies. Section 81(1)(a) of Maharashtra Cooperative Societies Act, 1960 empowers Registrar to prescribe auditor qualifications, and the circular is a valid general order.

The judgment concerns two writ petitions challenging a circular dated 11th November 1996 issued by the Government of Maharashtra under Section 81(1)(a...

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Bombay High Court Upholds Restriction on Certificate of Practice to Fellow Members of Actuaries. Court Dismisses Petition Challenging Regulation 10 of 2017 and Section 12 of the Actuaries Act, 2006

The Bombay High Court dismissed the writ petition filed by Divvela Ramaiah and another petitioner, challenging the Institute of Actuaries of India's r...

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Bombay High Court Quashes Circular Levying Audit Fees on Co-operative Societies Opting for Private Audit. Rule 74 of Maharashtra Co-operative Societies Rules, 1961 cannot override Section 81(1)(b) of the Maharashtra Co-operative Societies Act, 1960.

The petitioner, The Friends Co-operative Housing Society Ltd., a society registered under the Maharashtra Co-operative Societies Act, 1960, filed a wr...