Wholesale Trading Services (P) Ltd. v. ICAI (2022) 285 Taxman 216 (Delhi)(HC)

S. 21 : Professional misconduct-Scheme of Merger-Report was subject to judicial proceedings before High Court-Once the scheme of merger was sanctioned there would be no reason for Disciplinary Committee of ICAI to adjudicate the correctness of the report. [S. 22, Negotiable Instruments Act, 1881, S. 138, Criminal Procedure Code,1973, S. 482]

Appeal was preferred against the order of single judge. Dismissing appeal the Court held that once the Report was subject to judicial proceedings before High Court and   the scheme of merger was sanctioned  there would be no reason for Disciplinary Committee of ICAI to adjudicate the correctness of the report.

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