ICAI bans CA guilty of professional misconduct, removes name from the Register of Members for one year for non exercising due diligence/grossly negligent
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
(Set up by an Act of Parliament)
New Delhi, the 15th June, 2018
No. PR-52/10-DD-72/10/DC/315/2014.—In terms of the provisions of Section 21B(3) of the Chartered Accountants Act, 1949 [as amended by the Chartered Accountants (Amendment) Act, 2006] read with Rules 18(17) and 19(1) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007, CA. Ishaq Esmail Lakkadghat (Membership No. 120260), 602, Cadel Castle, 30, V S Marg, Cadel Road, Mahim (West), Mumbai-400 016, has been held guilty of professional misconduct falling within the meaning of Clause (7) of Part I of the Second Schedule to the aforesaid Act by the Disciplinary Committee and consequently ordered for removal of the name of aforesaid CA. Ishaq Esmail Lakkadghat(Membership No. 120260) from the Register of Members for a period of one (01) year. In pursuance thereof and in exercise of the powers conferred by sub-section (2) of Section 20 of the aforesaid Act, read with Regulation 18 of the Chartered Accountants Regulations, 1988, it is hereby notified that the name of said CA. Ishaq Esmail Lakkadghat (Membership No. 120260), shall stand removed from the Register of Members for a period of one (01) year with effect from 15th June, 2018.
V. SAGAR, Secy.
Note from Author:
Part-I of the Second Schedule deals with Professional misconduct in relation to chartered accountants in practice. As per clause (7), a chartered accountant in practice shall be deemed to be guilty of professional misconduct, if he does not exercise due diligence, or is grossly negligent in the conduct of his professional duties.