AMEET KUMAR SHARMA
REGULATORY SETTLEMENT AGREEMENT
1. Ameet Kumar Sharma (“Mr Sharma”), formerly a Consultant at Sterling Partnership Solicitors LLP (“SP”) of Merchants House, 5-7 Southwark Street, London, SE1 1RQ agrees to the following outcome of the investigation into his professional conduct under reference CDT/49781-2007.
Background
2. On 7 August 2007 a partner of SP complained to the Solicitors Regulation Authority (“SRA”) about Mr Sharma whilst with his firm.
3. It was alleged that Mr Sharma had acted for the seller, buyer and the lender in the sale and purchase of a property. It was also alleged that Mr Sharma had failed to notify the lender that the balance of the purchase price was being provided by the seller.
4. The complaint has been investigated by the SRA.
Admissions
5. Mr Sharma makes and the SRA accepts the following admissions:
- He failed to report to his lender client that he was proposing to act for the seller as well as the buyer and the lender in the same transaction in breach of Rule 6(3)(b)(ii) of the Solicitors Practice Rules 1990 (“SPR 1990”);
- He failed to report to his lender client that the balance of the purchase price was not being provided from his buyer client’s own funds in breach of Rule 6(3) (c) (iv) of the SPR 1990;
- He failed to inform the appropriate parties of his seller client’s decision to deal with more than one prospective buyer in breach of Rule 6A of the SPR 1990 and Principle 25.05 of the Guide to the Professional Conduct of Solicitors (8th edition)
Regulatory outcome
6. Mr Sharma is therefore severely reprimanded for the misconduct admitted at paragraph 5 above.
7. Mr Sharma agrees that this outcome will be published by the SRA and that it may also be disclosed to any person upon request or otherwise.
8. Mr Sharma agrees to pay the costs of the investigation, including the SRA’s case working costs and a contribution towards the SRA’s legal costs in the total sum of £5,000 inclusive of VAT and disbursements.
9. Mr Sharma agrees that he will not act in any way inconsistent with this agreement by, for example, denying the misconduct admitted in paragraph 5 above.
10. If any of the terms of this agreement are not complied with or if Mr Sharma acts in any way inconsistently with this Agreement, he accepts that the matter could be referred back to an Adjudicator for consideration, including referral to the Solicitors Disciplinary Tribunal on the original facts and allegations and on the basis that his failure to comply constitutes a breach of Rule 1 of the Solicitors’ Code of Conduct 2007.
Dated this 14th day of February 2010
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David J Middleton for the Solicitors Regulation Authority
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Ameet Kumar Sharma