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PETITIONER: THE COUNCIL OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF
Vs.
RESPONDENT: B. MUKHERJEA
DATE OF JUDGMENT: 10/09/1957
BENCH: GAJENDRAGADKAR, P.B. BENCH: GAJENDRAGADKAR, P.B. BHAGWATI, NATWARLAL H. DAS, S.K.
CITATION: 1958 AIR 72 1958 SCR 371
ACT: Chartered Accountant-Misconduct during appointment as liquidator by Court-If amounts to professional misconduct- Reference-Power of High Court-Chartered Accountants Act,1949 (XXXVIII Of 1949), SS. 2(2), 21 and 22.
HEADNOTE: Respondent, a chartered accountant and a member of the Institute of Chartered Accountants, was appointed liquidator of three insurance companies in pursuance of the orders of the High 48 372 Court. He received records, cash and securities on behalf of these companies. The Assistant Controller of Insurance found that his conduct as liquidator was wholly unsatisfactory and that he would not even reply to the letters addressed to him. His appointment was cancelled and another person was appointed. In spite of repeated demands he failed to return all the records, cash and securities. A complaint was lodged against him with the Council of the Institute of Chartered Accountants. After inquiry the respondent was found guilty of misconduct, and the report was forwarded by the Council to the High Court for necessary action under S. 21 of the Chartered Accountants ...