The Chandigarh branch of the Northern India regional council of the Institute of Chartered Accountants of India (ICAI) Chandigarh shall continue to function under the chairmanship of CA Sahil Singla, as the apex body of ICAI has withdrawn its order to appoint an administrator to run body.

The decision to withdraw the October 6 orders appointing administrator was taken by the apex body after Chandigarh body had challenged it before the Punjab and Haryana high court on October 25.

The HC has also directed that if the managing committee of Chandigarh branch holds any seminar and collects any fee for participation, the amount collected on that account will be deposited in the bank account of Chandigarh branch. "The intimation of the number of participants and the amount collected and deposited in the account shall be furnished to the secretary, central council," observed a division bench headed by Justice Rajesh Bindal.

Bench has also preponed the hearing of the case for December 13. Earlier on September 24, the HC had stayed the disciplinary proceedings against the members of the managing committee of the Chandigarh branch of ICAI and allowed the branch to continue its day to day operations under the Chairmanship of CA Sahil Singla. The matter had reached before the HC in the wake of a petition filed by managing committee of ICAI Chandigarh and its eight members.

According to the petitioners, in the meeting of the executive committee of the Chandigarh branch of the ICAI of Northern India Regional Council, the elected Chairman had resigned. The Vice-Chairman was requested to take over but on his refusal, the name of Sahil Singlaproposed by the outgoing Chairman was accepted and he was requested to take over as Chairman on September 12, 2016.

Petitioners had also stated that the unanimous decision of managing committee to elect Sahil Singla as its chairman was being challenged by ICAI President CA M. Devaraja Reddy. According to the petitioners Reddy was sending threatening emails to the managing committee Members of Chandigarh Branch of suspension or dissolution of branch or appointment of an administrator etc. Following these, disciplinary action against all eight members was initiated on the behest of Reddy.

HC has already sought replies from the Secretary, union ministry of corporate affairs, President, ICAI New Delhi and others on the issue. (Source - Times of India)