Prafulla P. Chhajed elected as the President of ICAI

• Prafulla P. Chhajed has been elected as the President of the Institute of Chartered Accountants of India (ICAI). Atul Kumar Gupta has been elected as the Vice-President of the ICAI on February 12, 2019.

• They have been elected for a term of three years (2019-22).

• The Council of ICAI constitutes of 40 members of whom 32 are elected by the Chartered Accountants and remaining 8 are nominated by the Central Government. 

Extra: The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountancy in India. It has 40 members.

The affairs of the ICAI are managed by a Council in accordance with the provisions of the Chartered Accountants Act, 1949 and the Chartered Accountants Regulations, 1988. 

The Council constitutes of 40 members of whom 32 are elected by the Chartered Accountants and remaining 8 are nominated by the Central Government.