CS Professional · Compliance Management, Audit and Due Diligence · Values, Ethics and Professional Conduct
The Disciplinary Committee finds CS Arjun Rao guilty of Second Schedule misconduct after hearing him. What is the maximum fine it can impose under the Act?
The maximum fine is rupees five lakhs. Section 21B(3)(c) lets the Disciplinary Committee impose such fine as it thinks fit, extending up to five lakh rupees, in addition to or instead of reprimand or removal of name from the Register.
- ARupees one lakh
- BRupees two lakh
- CRupees five lakhCorrect
- DRupees ten lakh
Explanation
Section 21B(3)(c) allows the Disciplinary Committee to impose a fine as it thinks fit, which may extend to rupees five lakhs. The lower amounts are not the statutory ceiling.
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