|
The Ministry of Corporate Affairs (MCA) has dismissed an application filed by the Institute of Chartered Accountants of India (ICAI) against the Institute of Chartered Tax Practitioners India (ICTPI) over the alleged misuse of the term “Chartered” in its name.
ICAI, a statutory body regulating the chartered accountancy profession in India since 1949, contended that ICTPI’s name and its “Chartered Tax Practitioners” course could mislead the public into believing it was affiliated with or endorsed by ICAI. The institute argued this violated Section 24A of the Chartered Accountants Act, 1949, and posed a risk of reputational damage.
After detailed hearings, the Regional Director (RD) of the MCA rejected ICAI’s objections. The RD held that the word “Chartered” is generic, used widely in different contexts, and does not exclusively signify a statutory professional qualification. The director pointed out that several companies using “Chartered” in their names are not backed by statute.
The RD also observed that ICTPI and ICAI operate in distinct professional domains — with ICAI overseeing audit and accountancy, while tax practitioners work solely in taxation matters. It was noted that ICAI itself had earlier admitted no specific professional qualification is needed to be a tax practitioner.
ICTPI defended its operations, stating it had been functioning independently since 2020 with due name clearance and recognition from government skill development schemes. The institute committed to adding clear disclaimers on its website and course materials, clarifying that it is neither affiliated with nor endorsed by ICAI.
The RD acknowledged ICTPI’s registered trademark and concluded there was no evidence of public confusion or passing off, ultimately dismissing ICAI’s application.
|
