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TMI Blog2007 (5) TMI 696X X X X Extracts X X X X X X X X Extracts X X X X ..... ted service through publication in the newspaper STATESMAN (New Delhi Edition). On 29th March, 2007 despite service by publication, Respondent No. 1 did not put in appearance. Accordingly, by an order dated 19th April, 2007, it was directed that Respondent No. 1 be proceeded against ex-parte. 3. Today also, there is no appearance on behalf of Respondent No. 1. 4. The following allegations were made against Respondent No. 1 by Ashok Kumar, Superintendent of Police, CBI. i) The Respondent No. 1 remained instrumental in getting a loan of Rs. 49.8 lakhs sanctioned from Union Bank of India, Zonal Office, New Delhi in 1989 in favor of M/s S.K. Trading Co. 9642/12, Sadar Thana Road, Delhi on the basis of forged documents such as quotations, supply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ary Committee of the Council. 7. The matter was taken up by the Disciplinary Committee of the Council and it submitted its report dated 16th January, 1999. A copy of the report of the Disciplinary Committee was supplied to the complainant as well as to Respondent No. 1. While the complainant did not give any written submissions on the report of the Disciplinary Committee, Respondent No. 1 gave his written submissions. 8. The representation of Respondent No. 1 was considered by the Council which came to the conclusion that he was guilty of other misconduct within the meaning of Section 22 read with Section 21(5) of the Chartered Accountants Act, 1949. On the basis of this conclusion, the Council recommended to this Court that his name be rem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with this conclusion. 13. The lack of responsibility displayed by Respondent No. 1 clearly shows that he had acted in a manner unbecoming of a Chartered Accountant and, Therefore, the Council rightly recommended removal of his name from the register of members for a period of one month. 14. We have examined the issue whether the punishment is too harsh but we find that there has to be some degree of integrity and probity which is expected of a Chartered Accountant who is regularly concerned with financial transactions and on the basis of whose recommendations and certificates financial institutions such as banks disburse loans or enter into other financial transactions. 15. Under the circumstances, we are of the view that the punishment th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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