[aaykarbhavan] Re: {CAUSE OF CA} Fwd: Misappropriation of funds in Varansi Branch Building

Seats are meant for sit. They come, by spending lots of money . For what they sit?
Nothing , but earn something more in return ???!!!

Shah D J

On Wednesday, 8 April 2015 11:43 AM, deepjainca <deepjainca@gmail.com> wrote:

Mail dated 20th Feb. 2015 acknowledged on 8th April 2015. 

So much time in acknowleding the mail...how much time will be taken in taking action on the matter raised through mail only GOD knows...

Sent from Samsung Mobile

-------- Original message --------

From: sagar@icai.in

Date:08/04/2015 4:11 PM (GMT+05:30)

To: deepjainca@gmail.com

Subject: Misappropriation of funds in Varansi Branch Building

Dear Sir,

We acknowledge the receipt of your e-mail dated 11th March, 2015 regarding Varanasi Branch Building.  We are examining the matter and will take steps as are required to be taken in the matter.

Regards,

V. Sagar

Acting Secretary

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From: Deep Jain <deepjainca@gmail.com>
Sent: Wednesday, March 11, 2015 11:21 PM
To: president@icai.org; GOOGLE GROUP; tar-group@googlegroups.com; THANE
Subject: Fwd: Misappropriation of funds in Varansi Branch Building

 

---------- Forwarded message ----------
From: Deep Jain <deepjainca@gmail.com>
Date: Sun, Mar 1, 2015 at 2:48 PM
Subject: Fwd: Misappropriation of funds in Varansi Branch Building
To: president@icai.org

REMINDER-2

Dated: 11th March, 2015

The President

ICAI

New Delhi

Sir,

Please refer to the  trailing mail dated 20/02/2015, reminder dated 1st March, regarding misappropriation of funds in Varansi Branch Building case. We would like to hear the action taken by the Council, after the branch managing committee comments on the due dilegence report of independednt auditor appointed by the Audit Committee of ICAI.

As custodian of our funds, we look forward to you and the Council to take steps that the funds are not misappropriated by any body.

We hope we shall get response to our mail.

Regards

Deep Jain

---------- Forwarded message ----------
From: deepjainca <deepjainca@gmail.com>
Date: Fri, Feb 20, 2015 at 10:09 PM
Subject: Misappropriation of funds in Varansi Branch Building

REMINDER-1

Dated: 1st March, 2015

The President

ICAI

New Delhi

Sir,

Please refer to the  trailing mail dated 20/02/2015, regarding misappropriation of funds in Varansi Branch Building case. We would like to hear the action taken by the Council, after the branch managing committee comments on the due dilegence report of independednt auditor appointed by the Audit Committee of ICAI.

As custodian of our funds, we look forward to you and the Council to take steps that the funds are not misappropriated by any body.

We hope we shall get response to our mail.

Regards

Deep Jain

---------- Forwarded message ----------
From: deepjainca <deepjainca@gmail.com>
Date: Fri, Feb 20, 2015 at 10:09 PM
Subject: Misappropriation of funds in Varansi Branch Building
To: president@icai.in, secretary@icai.in, tar-group@googlegroups.com, cause-of-ca@googlegroups.com

Dated: 20th Feb.,2015

The President ICAI 

NEW DELHI

Sir

Congrats for your election to the esteemed post of ICAI. 

As the first person of ICAI family,we believe you will ,ensure proper utilisation of students and members funds being the custodian of these funds. 

We are in receipt of following communication from Varansi Branch Managing Committee member(s)and hope you might be well aware of the entire issue.

We look forward to you to bring to book the guilty who misappropriated ours and students funds.

Regards..

Deep Jain 

Fraudulent activity at Varanasi Branch and cover-up by ICAI, New Delhi.

1.      Construction of Branch building project at Varanasi was started in year 2012-13 and ICAI New Delhi sent Rs.1,30,00,000/- for construction in three installment.

2.      Branch office bearer for year 2012-13 transferred another Rs.11,00,000/- from branch ITT fund and made payment beyond their authority.

3.      Branch auditor in his audit for year 2012-13 pointed out various irregularities and qualified his report.

4.      Matter was reported to CIRC, Kanpur, ICAI, New Delhi as well as in AGM of Varanasi Branch.

5.      Varanasi Branch constituted an enquiry committee. In the mean time ICAI, New Delhi also constituted an enquiry committee.

6.      Varanasi Branch enquiry committee gave his report on 09.01.2014and found that there was irregular payment to the tune of Rs.44.16 Lac.

7.      Enquiry committee of ICAI, New Delhi submitted his report on 31.01.2014and gave benefit of doubt on flimsy ground despite the fact he was in possession of enquiry committee report of Varanasi and was of the opinion that fund was misappropriated.

8.      It is important to mention that the proceeding of enquiry committee of ICAI, New Delhi was got recorded in CC Tv in which the enquiry committee member himself was stating that there was a planned misappropriation of fund to the tune of Rs.40.00 Lac.

9.      The ICAI, New Delhi then ordered a due diligence audit. The auditor submitted his report on 12.04.2014 and observed that there was gross violation of rules and regulation and fund of the Institute was misappropriated.

10.  The due diligence report was taken up by the audit committee of ICAI, New Delhi on 24.04.2014and have observed that there was misappropriation of fund and recommended for further action.

11.  The ICAI, New Delhi asked the committee members of Varanasi Branch, which include a member involve in those fraudulent activity, to comment on due diligence audit report.

12.  On 04.06.2014 reply was sent to the President, ICAI, New Delhi by the Chairman, the Immediate past Chairperson and the Treasurer of the Varanasi Branch.

13.  Till date no action has been taken by ICAI despite the fact the ICAI, New Delhi has all the evidence and report which clearly shows the massive corruption and misappropriation of fund.

14.  It is not the matter of just Rs.40.00 Lac but over 25% of total cost was misappropriated.

15.  Each and every incidence is well documented and most of the evidences are in the possession of ICAI, New Delhi and same can be procured under RTI.

It is a matter of great concern, why the ICAI, New Delhi is playing a cover-up game? They have everything to take action so that these types of corrupt activities can be stopped. It seems that this incident is not the only one but there are many more skeletons.

Sent from Samsung Mobile

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Posted by: Dipak Shah <djshah1944@yahoo.com>

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