The Bar Council has served a notice to the Big Four accounting firms — KPMG, Ernst &Young, PwC and Deloitte India — to stop practising law until further orders. The council demanded that these four global audit firms furnish a list of all advocates hired by them in any of their offices. Acting on a complaint filed by Lalit Bhasin, President of the Society of Indian Law Firms, Delhi Bar Council issued these directions.
Bhasin in his complaint said, “All these firms are actually accounting firms, however, are engaged in doing law practice.”
According to a Business Standard report, the notices were issued to PwC Chairman Deepak Kapoor, Managing Partner of KPMG, E&Y Regional Managing Partner Rajiv Memani and the Deloitte India Managing Director. KPMG and Deloitte had done their duty by responding to the notices in Thursday.
PwC have four weeks and E&Y six to file their replies to the notice. While the Chartered Accountants Act governs CAs, legal practice is governed by the Advocates Act.
“The Council is of the view that in the meantime, all the firms refrain themselves from indulging in any such practice until further orders.”, said the Delhi Bar Council.
The next date of hearing on the matter is July 12.