Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: empanelment :: cpt :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: VAT RATES :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: TDS :: Central Excise rule to resale the machines to a new company
 
 
ICAI »
  Certificate Course on Forex and Treasury Management - forthcoming batches at Mumbai, Chennai & Noida.
 Constitution of Group for formulating the Detailed Action Plan - Ministry of Corporate Affairs
 CPE Events 20th March - 25th March 2017
 Invitation for contributions to Question Bank in respect of Information System Audit-(Assessment Test (ISA-AT) (New Syllabus)
 Reconstitution of Group for Rohini Land at Delhi
 Group to review the Terms of Reference of Infrastructure Development Committee
 Empanelment of Members to act as Observers at the Examination Centres for The Chartered Accountants Examinations May/ June 2017.
 Canada (Toronto) Chapter of ICAI launched helpline for Members interested for getting CPA Canada membership
  Regarding Empanelment of professionals having at least fifteen years of continuous practice as a Chartered Accountant with RD MCA as Mediator or Conciliator for the year 2017-2018
  Register for Webinar Organized By CPA Ontario in Association with Canada (Toronto) Chapter of ICAI on March 15, 2017.
 CPE Events 6th March - 11th March 2017

All is not well with ICAI, Madras high court says
November, 06th 2013

Holding that all is not well with the functioning of the Institute of Chartered Accountants of India (ICAI), the Madras high court has decided to hear the CBI and the Chief Vigilance Commission (CVC) before passing orders on a PIL seeking CBI/CVC probe into the irregularities in the establishment of Rs 97.5-crore centre of excellence at Nagpur.

"The ICAI is supposed to be the apex board to regulate the affairs of the body and to monitor the functioning of its members. It also exercises disciplinary jurisdiction over its members. In case the apex body itself violates financial discipline, it is really a serious matter," observed Justice K K Sasidharan on Wednesday.

"Records indicate that all is not well with the statutory body. The council members have expressed their strong views against the president and secretary on account of entering into certain financial dealings without taking the council into confidence. The transaction is not confined to the centre of excellence at Nagpur. There are other land dealings also involving substantial amount," the judge said.

In his PIL, V Venkata Siva Kumar wanted the court to order a probe by the CBI or the CVC into the project, and 'unravel irregularities, conspiracy and criminal breach of trust' committed by the president and other office-bearers of the ICAI.

Minutes of the meeting revealed that the ICAI secretary had told the members that CVC regulations were not applicable to ICAI. The Nagpur land deal was cancelled due to protests by members.

Justice Sasidharan pointed out that though a CBI/CVC probe was sought neither of them has been included as party to the PIL proceedings. He then ordered that they be impleaded as parties so that their views could be heard before a final order is passed. "Though the petitioner wanted this court to issue a mandamus to CBI or CVC to conduct inquiry/investigation, the fact remains that CBI or CVC are not parties to this writ petition. Therefore, on a careful consideration of the matter, I hold that CBI and CVC are necessary parties to this writ petition," he said.

The judge impleaded the two central agencies as parties, and ordered notices to them as well. He also directed them to file their response by November 18.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions