Constitution of a Group to examine the issues arising out of the Judgement dated 23.02.2018 of the Hon’ble Supreme Court in the matter of operation of Multinational Accounting Firms in India –
ALL MEMBERS OF THE COUNCIL
Madam/Dear Sir, Sub.: Constitution of a Group to examine the issues arising out of the Judgement dated 23.02.2018 of the Hon’ble Supreme Court in the matter of operation of Multinational Accounting Firms in India The Hon’ble Supreme Court of India vide its combined Judgement dated 23rd February, 2018 in Civil Appeal No. 2422/2018, S. Sukumar Vs. ICAI and W.P. (Civil) No. 991/2013, CPIL vs. UOI & Ors. has issued certain directions to Central Government, Enforcement Directorate (ED) and ICAI. The directions issued are enclosed herewith (Annexure I). As far as ICAI is concerned the following direction has been issued to it: “ICAI may further examine all the related issues at appropriate level as far as possible within three months and take such further steps as may be considered necessary” The Management Committee at its 21st meeting held on 20th March, 2018 at New Delhi considered the matter and decided to constitute a Group to examine the issues related to the activities and operation of Multinational Accounting Firms in India in the light of the aforesaid Judgement of the Hon’ble Supreme Court and to submit its recommendations to the Management Committee. Accordingly, the President, in terms of the decision taken by the Management Committee at its 21st meeting and endorsed by the Council at its 374th meeting held in March, 2018 has constituted the aforesaid Group consisting of the following members:-
Shri S.V. Krishnamohan, Chief Legal Advisor will be the Secretary to the Group. The terms of reference to the Group shall be as under: –
The Group has been requested to meet on regular basis at least once a week and submit its report to the Council within one month. Thanking you, |