REGISTRAR OF COMPANIES KERALA Vs. VAIDYANAHTA IYER
LAWS(KER)-1963-7-16
HIGH COURT OF KERALA
Decided on July 22,1963

REGISTRAR OF COMPANIES, KERALA Appellant
VERSUS
VAIDYANAHTA IYER Respondents

JUDGEMENT

- (1.)This is a reference by the Council of the Institute of Chartered Accountants under sub-s.(5) of S.21 of the Chartered Accountants Act, 1949. The finding of the Council reads as follows:
"The respondent was guilty of professional misconduct under S.21 of the Chartered Accountants Act, 1949 read with clause (7) of Part I of the Second Schedule to the Act."

"It was decided to recommend to the High Court that the name of the respondent may be removed from membership of the Institute for a period of two years."

Clause (7) of Part I of the Second Schedule provides that a chartered accountant in practice shall be deemed to be guilty of professional misconduct, if he is "grossly negligent in the conduct of his professional duties".

(2.)The complaint against the respondent was made by the Registrar of Companies, Kerala State. It related to his conduct as the auditor of the Alagappa Textiles (Cochin) Limited in respect of the years ended 31-12-1952 and 31-12-1953. The auditor's report for 1952 is Ext. 6 and for 1953 is Ext. 7.
(3.)The Disciplinary Committee of the Council found that three of the charges -- charges (a), (b) and (g) - have been brought home to the respondent. We shall deal with them in that order.
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