ICAI removes CA’s name from Members Register for misconduct

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Bhubaneswar: The Disciplinary Committee of the Institute of Chartered Accountants of India (ICAI) has removed the name of Chartered Accountant (CA) Kulamani Parida from the Register of Members for a period of one year after finding him guilty of professional misconduct.

The ICAI move came following the report of economic offences wing (EOW) of the Crime Branch, Bhubaneswar. The EOW had found connivance of Parida in a loan fraud case.

According to EOW sources, Sibani Construction managing director Siba Narayan Chhotaray along with Parida and employee Laxmidhar Sathua, had cheated the State Bank of Travancore in the city.

Parida was arrested on October 27, 2014 following which the Secretary, ICAI was moved by EOW, Bhubaneswar for taking disciplinary action against him.

The Disciplinary Committee of ICAI after conducting a detailed enquiry at Regional Head Office, Kolkata, examining both the parties and perusing the relevant documents found Kulamani Parida guilty of professional conduct and ordered the removal of his name from the Register of Members for one year.

The investigation of the case is complete and meanwhile, the court has taken cognizance against the accused persons including the accused CA.

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