ICAI removes names of 5535 members for Non-Payment of Fees: The Institute of Chartered Accountants of India (ICAI) has removed the names of 5535 members from its membership list for Non-Payment of Fees via issuing a notification.
The Another official notification stated that the Council of the Institute of Chartered Accountants of India has, retrospectively, restored the names of certain members to the Register of members.
This action underscores the importance of adhering to membership requirements and financial obligations within professional organizations like the ICAI. Members are typically required to pay their fees promptly to maintain their active status within the organization. Failure to do so can lead to the removal of their names from the membership list.
The Restoration ICAI official notification stated:
It is hereby notified in pursuance of Regulation 20 of the Chartered Accountants Regulations 1988 that in exercise of the powers conferred by Regulation 19 of the said Council of the Institute of Chartered Accountants of India has restored retrospectively to the Register of members from the dates mentioned against their names of the following members: