The Council considered the matter of 'Issues relating to taking on record the particulars of merged/merging firms of chartered accountants including that of date(s) of joining partner(s) of merging firm(s)' at its 250th meeting held from 19th to 22nd April, 2005 and decided as under :- | |||
In order to bring clarity for the purpose of removing doubts over the issues relating to taking on record the particulars of merged/merging firms of chartered accountants including the date(s) of joining of partner(s) of merging firm(s), the Council unanimously decided to accept the recommendation of the Executive Committee as under :- | |||
Name of firm | Name of firm | Name of new firm | Seniority |
1. A & Co., 1966 | B & Co., 1980 | A & Co | Date of establishment will be 1966 |
2. A & Co., 1966 | B & Co., 1980 | B & Co | Date of establishment will be 1980 |
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Name of firm | Name of firm | Name of new firm | Seniority |
1. A & Co., 1966 | B & Co., 1980 | Y & Co | Date of establishment will be date of approval of Y & Co. by the Institute or constitution of the Partnership firm, whichever is later. |
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Name of firm | Name of firm | Name of new firm | Seniority |
1. A & Co., 1966 | B & Co., 1980 | Either AB & Co. or BA & Co | Date of establishment will be 1966 |
While, in the constitution certificate, the actual date(s) of joining (of partner(s) the merging firm(s) would continue to be the respective date(s) of joining the merged firm, however against each such entry the clarificatory words "deemed date of joining" should be mentioned without fail. |