Special cell to hear cases against CAs for registering Chinese shell firms

When asked what action can be taken against CAs who are found guilty, Debashis Mitra said they could be removed from their post for as long as their lifetime

Saying that a special cell has been constituted under the Disciplinary Committee to examine the nature of offences of Chartered Accountants involved with Chinese companies, President of Institute of Chartered Accountants of India(ICAI) Debashis Mitra said that the cases are likely to be disposed of at the end of the year on a fast track basis. 

“We have compiled a list of companies where CAs were involved and have issued notices to all of them,” he said. 

Explaining the process, he said first a notice is said to the accused CA. When he/she replies, the Director of Discipline committee has