Jayanta Bandyopadhyay 14 June 2023

Acronyms change requiring union ministry approval

Following Delhi High Court ruling, ICAI -Cost Institute council has changed acronym ICAI to ICMAI.

Does it require Union Govt approval now ?

Quick Summary

Following a Delhi High Court ruling, the Institute of Cost Accountants of India (ICAI) has changed its acronym to ICMAI. This change, however, is considered an administrative step governed by the institute's internal workings. As the Cost and Works Accountant Act 1959 does not explicitly outline procedures for name changes and no government approval is mandated, the Union Government's approval is not deemed necessary for this particular acronym alteration.

2 Replies

Avantika Chavan 14 July 2023

Hello Sir/Ma'am,

The ICAI is ruled under the Cost and Works Accountant Act 1959 which mainly talks about the rules, powers and functions of the body, it does not contain any explicit section or provision that mentions the procedures to be followed while changing the name of the ICAI. The transformation of ICAI into ICMAI is merely an administrative step that is governed by the internal working of the organizations that does not involve any sort of government approval. Therefore, in absence of any legal precedent, the Union's approval is not necessarily needed in this case.

P. Venu (Advocate) 15 July 2023

It is seen that, in compliance to the directions of the High Court, only the acronym has been changed, the institution is still the "The Institute of Cost Accountants of India"