Transfer/Termination of Articleship, allowed Transfer during the first year of articles without any restriction

Recently a CA final Student Mr. Madhur Mittal ask a question about the time period within which second (next) firm should be joined after termination from the earlier firm. ICAI issued this announcement regarding the same on their website on 2nd August 2010.

Transfer/Termination of Articleship
[Regulation 56(1)]

In partial modification of the announcement dated 30th June 2009 regarding transfer / termination of articles the Council in its recent meeting has decided that the transfer/termination of articleship in terms of Regulation 56(1) of the Chartered Accountants Regulations, 1988 shall be permissible on the grounds as stated below: -

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