Institute of Chartered Accountants of India (ICAI) will launch disciplinary proceedings against the erring members and will impose penalty
GN Bureau | November 15, 2016
ICAI has issued show cause notice to two Chartered Accountants, who were caught on tape talking about converting black money by charging a commission of 30% to 40%.
The premier accounting body of the country said that it is pained and concerned about this grave matter.
The ICAI will launch disciplinary proceedings against the erring members and will impose penalty by following due process, said a press release.
The sting operation was carried out by Aaj Tak news channel.
ICAI said that it welcomes the historic decision of government to scrap currency notes of Rs 500 and Rs 1,000 denomination to fight corruption, black money, terrorism and counterfeit currency.
It described the move as a giant leap towards creating a clean and corruption-free economy.
M. Devaraja Reddy, president, ICAI has appealed to all ICAI members to be a part of this bold move which will not only eliminate black money, but will also choke the activities of anti-nationals from across the border financed by fake currency, ensuring inclusive growth and national security in one go.
INS Kiltan, the third anti-submarine warfare (ASW) stealth corvette built under project 28 (Kamorta class), was commissioned into the Indian Navy by defence minister Nirmala Sitharaman at the naval dockyard in Visakhapatnam. The anti-submarine warfare stealth corvet
Maharatna enterprise, Steel Authority of India Ltd. (SAIL) has supplied defence grade micro-alloyed grade of steel (DMR 249A) steel plates for the indigenously built anti-submarine warfare (ASW) stealth corvette INS-Kiltan commissioned into Indian Navy. SAIL’s integ
This is the 250th year since the inception of the Survey of India that has been mapping the boundaries since 1767. Archana Mishra spoke to Dr Swarna Subba Rao, former surveyor general of India, who retired in June this year. He joined the department as a deputy superintending surveyor in 1983 a
An experiment carried out to make Uttar Pradesh’s Bijnor district Open Defecation Free (ODF) succeeded due to an official’s innovative approach, noted a World Bank blog. The blog “Compressed demand”: How Uttar Pradesh is making sure rural sanitation subs
As an emerging global power and the most powerful state in South Asia, India has been perennially concerned about protracted political instability and resultant social turmoil in Afghanistan during the past few decades. Indeed, India’s engagement in the realm of development cooperation, since the o
Till the National Investigation Agency (NIA) caught up with him in Delhi on August 17, 70-year-old Zahoor Ahmad Shah Watali, a businessman, was indeed one of the most powerful persons in Kashmir valley. He was known to wield enormous clout in the corridors of power, both in Srinagar and Delhi. His influenc