OTHERS ICAI claims that Institute ICWAI has not approved & unlawfully used the term ICAI

ICAI claims that Institute ICWAI has not approved & unlawfully used the term ICAI

ICAI claims that Institute ICWAI has not approved & unlawfully used the term ICAI

ICAI claims that Institute ICWAI has not approved & unlawfully used the term ICAI

The trademark 'ICAI' is a registered trademark of the Indian Chartered Accountants Institute (ICAI) [Trade Mark No. 2121118] with the date of product 01.07.1949. Therefore, the Institute of Indian Chartered Accountants (ICAI), as its licensed owner/owner and previous user, has the exclusive right to use the term 'ICAI' to indicate its identity.

The Institute of Chartered Accountants of India ( ICAI) is India's national professional accounting body. It was created as a regulatory board under the Chartered Accountants Act of 1949, passed by Parliament on 1 July 1949.

ICAI explained Newspaper Item published in Times of India on 26 July 2020 with the subject line "Court refuses to stop cost accountants from using ICAI acronym" which gave the common public a glaringly incorrect perception as if the Hon'ble Madras High Court had allowed the Institute of Cost Accountants of India to use the acronym 'ICAI' which is totally incorrect and mistaken and does not float.

In its Public Renunciation, ICAI further states,

The details relating to the above-mentioned news item are that the use of the acronym 'ICAI' by the Institute of Cost Accountants of India was found to be aggrieved; further, say Failing to comply with the above-mentioned order of 20.02.2018 of the learned single judge, the petitioner filed a Writ Appeal before the Madras High Court Division and the Hon'ble Madras High Court void its order of 22.07.2020 also dismissed the Writ Appeal on the following grounds:

• That the Appellant will not have a locus standi to retain the claim. The ICAI is a legal body with the right to sue or be sued in its name and the Petitioner (Appellant) can not withhold the petition.

• As regards the suspected violation of Section 24A of the CA Act, 1949, proceedings under Section 28 of the CA Act can be conducted only by the Council or the Central Government.

On the basis of the judgment referred to above, it is clear that the Hon'ble High Court did not in any way allow the Institute of Cost Accountants to use the acronym 'ICAI' as reported in the Newspaper, but rather rejected the petition on the grounds of lack of a petitioner's locus and availability of alternative remedies to the owner of the Trade Mark under the respective laws. In this connection, it is informed to Members, Students & Common Public that the term 'ICAI' is a licensed trademark of the Institute of Chartered Accountants of India (ICAI) [Trade Mark No. 2121118] with consumer date 01.07.1949.

The CA Institute (ICAI), as its licensed owner/owner and prior customer, is solely allowed to use the term 'ICAI' to denote its name. Any unauthorized/illegal use by any person/entity of the acronym 'ICAI' is a violation of the Trade Mark of the Institute of Chartered Accountants of India ( ICAI) and of the other provisions of the Chartered Accountants Act, 1949.

The Institute has already taken up the matter with the Government for compensation and will continue to do the same after the above decision with the relevant authorities. The Institute also discusses the legal options open to it for the protection of its freedoms. for the details, you may refer 

Institute of Chartered Accountants of India says Illegal and Unauthorised use of the acronym “ICAI” by the Institute of Cost Accountants of India

Regards 

Rajput Jain and Associates 

Disclaimer: The content of this post isn't considered to be professional or legal advice, We aren't responsible for any damages arising from your access to the location content & must not be relied on or used as a substitute for legal advice from a lawyer professional in your jurisdiction. CARajput is among India's big digital compliance services platform which committed to helping people have started & developed their businesses. We had started with the goal of creating it easier for start-ups to start out their business. Our main aim is to assist the businessman with applicable laws & regulations compliance and providing support at each & every level to make sure the business stays compliant and growing continuously. For any query, help or feedback you may in touch on singh@carajput.com or Call or what’s-up on 9-555-555-480

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