As per HT News Reports, on 23/02/2022, the MCA GOI has issued an Order to ROC Delhi & Haryana, for initiating action against at least 100 Chartered Accountants (CAs)/ Company Secretaries (CSs), mostly associated with 174 Chinese Companies, for alleged professional misconduct and unlawful activities, and has directed to submit an action taken report (ATR).
Accordingly, ROC Delhi & Haryana has filed complaints against such CAs/ CSs before the ICAI/ ICSI respectively, based on the MCA Order naming more than 100 CA/ CS professionals and their association with 174 companies (mostly Chinese).
ICAI has confirmed the development to HT and has stated that ‘Disciplinary Directorate is in receipt of complaints against CA Professionals, inter-alia, for their involvement in relation to companies alleged to be linked with Chinese nationals‘ and that the matter is being investigated.
MCA Order has not listed any specific allegations against the Companies/ CAs/ CSs, and hence the allegations are yet to be ascertained/ determined through detailed investigation/ inquiry.
HT tried to contact various Companies and professionals listed in such MCA Order, however most of them did not respond to their email, including the Regulator of CS Profession, the ICSI. Professionals or companies those who responded, have mostly refuted the allegations.
MCA seems to be forcing ICAI/ ICSI and other professional institutes to establish strong directives making their professionals more accountable and to take strict actions against errant members alleged to be involved in professional/ other misconduct. Source: HT News dt. 20/04/2022
ICAI Notice to 200 CA Firms for aiding Chinese Firms to violate Company Law (19/08/2022)