Is icai correct on imposing fine of rs.1000

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ICAI imposed fine for non sumission of Form 112 and asked to pay fine of Rs.1000/-

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I think ICAI is justified on imposing fine for non submission of form 112. However, if there is good reason for the same, fine may be waived. 

It is our duty to inform icai whether we are doing any other course, distance or regular.

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