Clarification on Misreported CA in Trading Fraud Case

Institute of Chartered Accountants of India (ICAI) addressed a news item published by The New Indian Express on August 25, 2024, titled “CA among 2 held in trading fraud.” The article reported that Hyderabad police arrested a 33-year-old individual, Kanani Nikunj Kishore, identified as a Chartered Accountant, for allegedly defrauding a retired man of ₹60.88 lakh under the pretense of increasing profits through a trading app. However, the ICAI clarified that Kanani Nikunj Kishore is not a qualified Chartered Accountant but a student pursuing the CA course. The Institute emphasized that the news misrepresented facts by incorrectly labeling the accused as a Chartered Accountant. ICAI requested The New Indian Express to publish a prominent correction in its columns to inform readers that the individual involved in the fraud is not a certified CA. Additionally, ICAI urged the newspaper to verify such details with the Institute in future reports to prevent similar errors. The letter was signed by CA Dr. Jai Kumar Batra, Secretary of ICAI, who expressed confidence that the newspaper would take responsible action to correct the misreporting.
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA(Set up by an Act of Parliament)
September 2, 2024
Mr. T Kalyan Chakravarthy EditorThe New Indian Express
Sub: Regarding publishing the clarification-News Item with heading CA among 2 held in trading fraud
Dear Sir
We have come across a news item published in the The New Indian. Express dated August 25, 2024 with the headline “CA among 2 held in trading fraud”. It is stated in the news item that Hyderabad police apprehended a 33 year old “Chartered Accountant” Kanani Nikunj Kishore and his associate in Gujarat’s Surat for allegedly defrauding a retired man of Rs. 60.88 Lakh in the guise of helping him earn more profit through a trading app.
We wish to clarify, that the said Kanani Nikunj Kishore is not a Chartered Accountant but a student pursuing CA Course. It is wrongly reported that he is a Chartered Accountant in the said news item. Your correspondent has not verified facts with us before publishing the aforesaid News Item.
You are, therefore, requested to publish a clarification prominently in your columns stating that the accused is not a Chartered Accountant.
In future, you may please verify and confirm with us the facts before publishing any news item to CA.
We are sure that as responsible Newspaper, you will take necessary steps in this regard.
Yours faithfully,
CA.(Dr.) Jai Kumar BatraSecretary