INSTT. OF CHARTERED ACCOUNTANTS vs INDER CHAND JAIN

The Supreme Court held that under Section 30 of the Chartered Accountants Act, 1949 and Regulation 87(2) of the Chartered Accountants Regulations, nominations for election must reach the Secretary by 5:00 PM on the specified date to be valid. The Court found that the High Court erred in its interpretation, as the nominations sent by registered post were received after the deadline and thus were rightly rejected. The appeal was allowed, affirming the necessity of strict compliance with the time requirements for nominations.