Ca in practice providing portfolio services

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Hello Everyone, While going through the Chartered accountants of india 1949, I Figured out that a CA in Practice cannot provide Portfolio services ..but CA Rakesh Jhunjhunwala of Gujrat the Warren Buffet Of india is providing Portfolio services ..so i have a question whether a CA in Practice is considered convict as professional misconduct or not ??? please Explain??
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Prior permission of Institute is required by Practising CA's for starting any business. If the institute grants permission then such business can be done.


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