Council Of Institute Of Chartered ... vs Shri Kishan Gupta And Anr
Judges (2)
Case Significance
Council Of Institute Of Chartered ... vs Shri Kishan Gupta And Anr is a Delhi High Court decision dated December 23, 2025 (citation: ik-34499977). ICAI made a reference under Section 21(5) of the Chartered Accountants Act, 1949 seeking removal of a member from the Register of Members for misconduct related to irregular allotment of shares in a public issue, as found by SEBI in a 2002 order. The respondent had admitted his involvement, describing himself as a 'finance facilitator' and seeking absolution. The Court accepted the reference and directed suspension of the respondent from ICAI membership for one year with Rs. 10,000 costs, emp The bench comprised Justices V. Kameswar Rao and Vinod Kumar. The judgment was delivered by Justice V. Kameswar Rao. Counsel appearing: Deepin Deepak Sahni (counsel for petitioner), Vijendra Singh Mahndiyam (counsel for respondent).
Summary
ICAI made a reference under Section 21(5) of the Chartered Accountants Act, 1949 seeking removal of a member from the Register of Members for misconduct related to irregular allotment of shares in a public issue, as found by SEBI in a 2002 order. The respondent had admitted his involvement, describing himself as a 'finance facilitator' and seeking absolution. The Court accepted the reference and directed suspension of the respondent from ICAI membership for one year with Rs. 10,000 costs, emphasising that Chartered Accountants must maintain the highest standards of integrity as custodians of financial markets.
What was the outcome of Council Of Institute Of Chartered ... vs Shri Kishan Gupta And Anr?
ICAI made a reference under Section 21(5) of the Chartered Accountants Act, 1949 seeking removal of a member from the Register of Members for misconduct related to irregular allotment of shares in a p...
Judgment
Read the full judgment on the official India Courts portal.
Read on Indian KanoonSource: Indian Kanoon (ik-34499977)