High Court dismisses Lodha's petition

Kolkata, Mar 17 (UNI) In a further jolt to the Lodhas, Calcutta High Court today dismissed the three separate writ petitions, filed against Institute of Chartered Accountants of India (ICAI) by R S Lodha and his two sons A V Lodha and H V Lodha, partners of Lodha and Company.

Justice Jayant Biswas after hearing submissions of counsel on behalf of the respective parties dismissed the writ petitions by a common judgement.

Although the court did not go into the merits of the case, it decided the non-maintainability of the writ petitions on points of law.

In the wake of the writ petitions being dismissed, the court said the writ petitioners could now approach the ICAI for extension of time to file their written statement.

The complainants, Mr O.P.Agarwal, Mr Shashi Agarwal and Mr S.K.

Sharma, had filed complaints against R S Lodha and his two sons before ICAI for showing fictitious number of partners, to be precise 14 partners, when there were in fact only three partners, and having benami firms controlled and operated by them.

In addition, R S Lodha and his two sons being professional chartered accountants had engaged themselves in many other businesses without prior permission of ICAI and in violation of ICAI norms.

R S Lodha and his two sons had filed applications for dismissal of the said complaint without filing their written statement in gross violation of the Chartered Accountants Act and Regulations, which had been earlier rejected by the Institute.

The writ petitioners moved the High Court against the said rejection but they could not succeed here also and all the three writ petitions had been dismissed by the High Court.

UNI XC SJC SC DB2102