Show cause notice to two CAs who spoke of converting black money

Institute of Chartered Accountants of India (ICAI) will launch disciplinary proceedings against the erring members and will impose penalty

GN Bureau | November 15, 2016


#Rs 500   #Rs 1000   #Cashless Economy   #Black Money   #Bank Notes   #Corruption  


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.

Comments

 

Other News

Report of India’s G20 Task Force on Digital Public Infrastructure released

The final ‘Report of India’s G20 Task Force on Digital Public Infrastructure’ by ‘India’s G20 Task Force on Digital Public Infrastructure for Economic Transformation, Financial Inclusion and Development’ was released in New Delhi on Monday. The Task Force was led by the

How the Great War of Mahabharata was actually a world war

Mahabharata: A World War By Gaurang Damani Sanganak Prakashan, 317 pages, Rs 300 Gaurang Damani, a Mumbai-based el

Budget expectations, from job creation to tax reforms…

With the return of the NDA to power in the recently concluded Lok Sabha elections, all eyes are now on finance minister Nirmala Sitharaman’s full budget for the FY 2024-25. The interim budget presented in February was a typical vote-on-accounts, allowing the outgoing government to manage expenses in

How to transform rural landscapes, design 5G intelligent villages

Futuristic technologies such as 5G are already here. While urban users are reaping their benefits, these technologies also have a potential to transform rural areas. How to unleash that potential is the question. That was the focus of a workshop – “Transforming Rural Landscape:

PM Modi visits Rosatom Pavilion at VDNKh in Moscow

Prime minister Narendra Modi, accompanied by president Vladimir Putin, visited the All Russian Exhibition Centre, VDNKh, in Moscow Tuesday. The two leaders toured the Rosatom Pavilion at VDNKh. The Rosatom pavilion, inaugurated in November 2023, is one of the largest exhibitions on the histo

Let us pledge to do what we can for environment: President

President Droupadi Murmu on Monday morning spent some time at the sea beach of the holy city of Puri, a day after participating in the annual Rath Yatra. Later she penned her thoughts about the experience of being in close commune with nature. In a message posted on X, she said:

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter