There is an ICAEW firm with 4 partners (all ICAEW) practicing in London, one of the partner (say Mr. X – ICAEW) take 4 paper of ICAI under MOU and obtained it’s membership, for the purpose of entering into a separate partnership with (say Mr. Y) a CA practicing in India. After entering into such partnership, Mr. Y (Indian CA) will not be guilty of PM, but whether Mr. X (ICAEW+CA) will be called guilty of PM under cl 4 of P-I of FS for continuing practicing with 3 other ICAEW in London, after taking membership. And whether COP will be required to be taken by him for practicing in London u/s 6?
Practically Moment Mr X will ask for Indian COP, ICAI will say leave COP of foreign institute as dual COP is not allowed. Suppose we assume he has left COP of foreign institute, then in such case yes he will be guilty under clause 4, CA in practice cannot enter into partnership with foreign professionals in India or Outside India