In a recent development, the Centre has named Justice Suresh Kumar Gupta, a former judge of the Allahabad High Court, as the chairperson of the appellate body for chartered accountants, company secretaries, and cost accountants. Alongside Justice Gupta, the corporate affairs ministry has appointed three members to the appellate authority: Rakesh Mohan, Sandip Garg, and Amit Anand Apte. Notably, Sandip Garg holds a concurrent position as a whole-time member of the Insolvency and Bankruptcy Board of India.
This move comes in line with the provisions outlined in Section 22A(1) of the Chartered Accountants Act, 1949, Section 22A of the Company Secretaries Act, 1980, and Section 22A of the Cost and Works Accountants Act, 1959. The appellate body serves as a recourse for members of the respective institutes for chartered accountants, company secretaries, and cost accountants who are found guilty of professional misconduct by the disciplinary panel of their respective bodies. They can appeal against such decisions to the newly constituted appellate authority.