Amrin (Chartered Accountant) (215 Points)
14 January 2014Hey!!
Its my last 3 months of Articleship remaining as per the DEED.. and i came to know now that My Principal has resigned from the partnership firm a month back in which i was registered in under him ..
My Principal says there wont be any complications... But i have read somewhere regardign some form to be filled.. But still UNSURE...
Please Help!! 
Saurabh Anokhchand Jain
(Chartered Accountant)
(1148 Points)
Replied 14 January 2014
In case your CA resign there is nothing to worry about the same, since you are registered under CA and not the Firm.
And at time of filling completion form, you have to take signature of your CA.. so dont worry..
Saurabh Anokhchand Jain
(Chartered Accountant)
(1148 Points)
Replied 14 January 2014
In case your CA resign there is nothing to worry about the same, since you are registered under CA and not the Firm.
And at time of Submiting completion form to ICAI, take the signature of your principle...(What matters is his Membership number and COP)
I think above explation can help you to resolve your doughts.
Amrin
(Chartered Accountant)
(215 Points)
Replied 14 January 2014
Pakka na?
I dont have to fill form 118 n all na?
DEEPIKA
(Student CA IPC / IPCC)
(55 Points)
Replied 30 January 2014
Hello Mr. Amrin,
Form - 118 is not required to be filled if your principal resigned from the partnership firm.
It is actually prescribed by ICAI for the persons who registered with CA who works as a paid assistant and not set up his individual practice and working with another CA.
For eg. Mr. X has completed CA and working with another firm just as a paid assistant instead of setting up his individual practice, then the articled assistants who registered under his name will generally show the same firm name and when he resigns from that firm, the articled assistant who registered under Mr. X has to submit form -118 signed by the principal of that firm.
DEEPIKA
(Student CA IPC / IPCC)
(55 Points)
Replied 30 January 2014
Mr. Amrin,
For clear idea, open the form and see it once.
Amrin
(Chartered Accountant)
(215 Points)
Replied 30 January 2014
So i dont have to fill any form or anything na?
Like only Service completion and other forms required while terminating articles na
Back in the Game
(a)
(1273 Points)
Replied 30 January 2014
The deal of member Retiring from partnership firm ,has only effect of member not acting on behalf of partenrship and Firm not acting on behalf the member.
As long as your Principal Who has Retired doesnt have a problem with you working in the Firm and second very important he holds and has not surrendered the COP justifies you Remaining the Article Trainee.
Lastly in addition to above he has got no problem in Signing your Articleship Completion Forms when your Completion is due.
PS: A hypothetical scenario Would be that ICAI officials checking into your Firm ,and asking a justification from your principal on finding you in some other firm as a trainee.The Risk of Which is takeable.
Nishant Agarwal
(student)
(26 Points)
Replied 05 December 2014
Nishant Agarwal
(student)
(26 Points)
Replied 05 December 2014
Esha T
(Student)
(420 Points)
Replied 23 March 2017
Ankita Gupta
(Student )
(28 Points)
Replied 17 August 2017
but in the name of firm , which firm's name should be mentioned. please help asap.
and i have to fill exam form also. whose seal should be affixed in it.
mangesh
(employee)
(22 Points)
Replied 20 August 2018
Is article need to take principal signature on for 109 for transfer of articleship when CA surrender his COP??
Ishita Goel
(5 Points)
Replied 25 January 2022
Sir, paid assistant under whom i was registered left the firm. My firm submit all the required details in the ICAI.... In how many days ICAI usually approve the same so that I can fill form 118.
Please reply asap.
Ishita Goel
(5 Points)
Replied 25 January 2022
Sir, paid assistant under whom i was registered left the firm. My firm submit all the required details in the ICAI.... In how many days ICAI usually approve the same so that I can fill form 118.
Please reply asap.
CAclubindia
