Using ICAI by Cost Accountants is a violation of the Chartered Accountants Act,1949: MCA

No. 01272019-PI
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS

5th Floor, A Wing Shastri Bhawan
Dr. Rajendra Prasad Road,
New Delhi-110001
Dated: 17.06.2020

To,

The Secretary Institute of Cost Accountants of India.
12, Sudder Street,
Kolkata-700016

Sub: Unauthorized use of the acronym “ICAI” by the Institute of Cost Accountants of India in violation of the Chartered Accountants Act. 1949 and the Provisions of Trade Marks Act, 1999

Sir,

A representation has been received from the Institute of Chartered Accountants of India dated 28th May 2020 stating that The Institute of Chartered Accountants of India is a statuary body set up by an Act of Parliament namely the Chartered Accountants Act 1949 with the pre-dominant objective to regulate the professions of Chartered Accountants and inter alia to conduct Chartered Accountancy examinations across the country for the aspiring candidates.

2. The Institute of Chartered Accountants of India is continuously using the acronym/abbreviation of its name “ICAI” since its inception (w.e.f. 01.07.1949 in all its communications, correspondence, public forum, international forum representation, etc. and as such the Institute has acquired a distinctive character and is exclusively considered to be associated with the identity of the Institute of Chartered Accountants of India. The Institute of Chartered Accountants of India has registered “ICAI” as its Trade Mark (Trade Mark No. 2121118).

3. The Institute of Chartered Accountants of India has further stated that the Institute of Cost Accountants of India is also a statutory body set up by the Cost and Works Accountants Act,1959 with the pre-dominant objective to regulate the professions of Cost Accountants and to conduct the Cost Accountancy examinations across the country for the aspiring candidates

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4. It has been pointed out that the Institute of Cost Accountants of India has unauthorisedly used acronym “ICAI” to denote its identity, which is in violation of Section 24A of the Chartered Accountants Act,1949 and the provisions of Trade Marks Act,1999 relating to infringement of Trade Marks.

5. It is felt that each Institute must be distinctively recognizable since they have been created for different professional service.

6. Comments of the Institute of Cost Accountants of India are accordingly sought on the above representation of ICAI.

7. In view of the above, it is not desirable for the Institute of Cost Accountants of India to use the acronym “ICAI.

8. This issues with the approval of competent Authority.

Yours faithfully,

Sanjay Yadav)
Joint Director
Ministry of Corporate Affairs

Copy for information to Secretary, The Institute of Chartered Accountants of India. ICAI Bhavan, Indraprastha Marg, P.B No. 7100, New Delhi – 110002


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