Sagar Goyal GoyalSagar Goyal Goyal asked 7 months ago

Sir according to RTP it is permitted by CG but designation other than Chartered Accountant is not permitted only degrees like Bcom etc is permitted na so there can be ip but I am in doubt regarding Insolvency professional 
Please clarify it 

1 Answers
RaviRavi Staff answered 7 months ago

CA can always show letters indicating qualifications and degree, now there is no shortcut or small name for insolvency professional , like llb or Dr etc so it is allowed to write insolvency professional, it is not replacing Chartered Accountant designation it is below designation as letters indicating qualification. So its absolutely fine, no contradiction
As per the Clause 7 of Part 1 of the First Schedule, if any Chartered Accountant
advertises his professional attainments or services, or uses any designation or
expressions other than the Chartered Accountant on professional documents, visiting
cards, letter heads or sign boards unless it be a degree of a University established
by law in India or recognised by the Central Government or a title indicating
membership of the ICAI of any other institution that has been recognized by the
Central Government or may be recognized by the council, will be guilty of professional
Here A Chartered Accountant empanelled as IP (Insolvency Professional) can
mention ‘Insolvency Professional’ on his visiting cards, Letter heads and other
communication, as this is a title recognised by the Central Government in terms of
Clause-7 of Part-1 of First Schedule to the Chartered Accountants Act, 1949. Thus,
complaint of neighbour is not enforceable/valid.

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