In Brief
A Chartered Accountant was alleged to have transferred 100 shares to himself in a 1999 commercial transaction. The Disciplinary Committee found him guilty of 'Other Misconduct' despite the matter being settled between parties. The High Court set aside the finding, reasoning that the accountant acted as an individual, not in a professional capacity. The Supreme Court reversed this, holding that under the Chartered Accountants Act, members can be disciplined for personal conduct that brings disrepute to the profession, regardless of whether the act is professionally-related. The case was remanded to the High Court for fresh decision.
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