ICAI Can Refer Matter to Disciplinary Committee If Board of Discipline Disagrees With Director’s Opinion | SC
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- Last Updated on 13 February, 2024
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The Supreme Court has upheld the validity of Rule 9(3)(b) of the Chartered Accountants’ (Procedure of Investigation of Professional and Other Misconduct and Conduct of Cases) Rules, 2007. The Rule allows the Board of Discipline to refer a matter to the Disciplinary Committee for further action under Chapter V of the Chartered Accountants’ (Procedure of Investigation of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, if it disagrees with the prima facie opinion of the Director (Discipline) under clause (a) above. The Appellant had argued that the Rule was ultra vires the parent Act, i.e., the Chartered Accountants Act, 1949. The contention was that the Rule went beyond the scope of the Act. The Court, however, disagreed with the contention and held that the Rule was completely in sync with the object and purpose of framing the Chapter on ‘Misconduct’ under the Act. The Court also noted that the Rule was necessary to ensure that a genuine complaint of professional misconduct against the member is not wrongly thrown out at the very threshold.
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