ICAI has introduced the Merger & Demerger of CA Firms Guidelines, 2024 to streamline the consolidation and separation of Chartered Accountant firms. The guidelines require firms to submit Form MDG 1 for mergers and Form MDG 2 for demergers, ensuring transparency and regulatory compliance. Merged firms retain the seniority of the oldest firm, while their names are frozen to prevent reuse. Firms can reclaim their original names within one to ten years post-demerger. ICAI mandates proper documentation, formal registration, and has established a Grievance Redressal Cell to address concerns. These guidelines aim to enhance operational efficiency while safeguarding professional identity and credibility.
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