The Company Secretaries Act, 1980
Sch. II Part I Rule 10. THE SECOND SCHEDULE
PROFESSIONAL MISCONDUCT IN RELATION TO MEMBERS OF THE INSTITUTE IN PRACTICE REQUIRING ACTION BY A HIGH COURT
A Company Secretary in practice shall be deemed to be guilty of professional misconduct, if he –
(10) Fails to keep moneys of his client in a separate banking account or to use such moneys for purposes for which they are intended.
The Company Secretaries Act, 1980