Illegal use of term ICAI by the Institute of Cost Accountants of India
The Institute has come across a News Item published in Times of India (Chennai Edition) dated 26th July 2020. The tag line was “Court refuses to stop cost accountants from using ICAI acronym”. As per the court, this gives a blatantly wrong impression to the general public. Also use of acronym ‘ICAI’ by the Institute of Cost Accountants of India is totally erroneous and misplaced. This does not flow from the judgment as has been wrongly reported in the national daily.
Hon’ble High Court has nowhere allowed the Institute of Cost Accountants to use the acronym ‘ICAI’ as reported in the Newspaper but rather has dismissed the petition on the ground of lack of locus-standi of Petitioner and availability of alternative remedy to the owner of the Trade Mark under the respective laws.
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