Mumbai, Oct 8 2019: A special court, hearing the bail plea of two auditors from Ernst & Young, Shravan Jalan and Amit Kabra, saw heated debates ranging from regular accounting practices, professional etiquettes, unwarranted victimisation of accounting professionals by EOW auditor to downright tardy probe process.
The courtroom drama on Monday saw senior counsel Amit Desai, appearing for Jalan and Kabra, who the EOW Forensic Auditor Chetan Dalal alleges of aiding and abetting NSEL management to perpetrate payment default scam at the exchange.
Mr Desai, while tearing down the sudden and unwarranted action taken by EOW of arresting Kabra and Jalan, argued that throughout the investigation process, EOW Forensic Auditor Mr Dalal had summoned these two auditors nearly around 50 times and they have promptly been assisting the Investigation.
Under such a condition, what was the need for EOW to arrest two professionals who have been cooperating with the process of law.
Also, Mr Dalal, who himself being a professional auditor, did not understand the basic norms and rules of Auditors’ community and seems to have behaved in an unprofessional manner when investigating the subject.
Mr Desai said that the auditors being interrogated, provided 80 box-files containing evidence related to the Audit Report and Financial Statement to EOW, but surprisingly the EOW auditor Mr Chetan Dalal does not seem to have found that. For example, details regarding mutual fund was given already to the State but Mr Dalal hasn’t found it yet. There is some information which was added under the Current Investment Head, I think Chetan Dalal hasn’t found that, Desai said taking potshots at EOW auditors professional acumen.
Mr Desai argued that the tardy probe process and auditing by EOW auditor is blatantly visible as all the related documents have been with the EOW since 2014, then what is the reason that EOW’s forensic auditor Mr Chetan Dalal is unaware of the details which have already been provided and is now asking again from us.
Taking into account the kind of mismanagement and mess of an investigation done, Senior Counsel Desai said, “Chetan Dalal is not worth of working as Forensic Auditor. A person must have some common sense when working as a professional auditor.
“We have responded to every call and summon of Mr Dalal. If he had some different view in reference to investigation and had to gather some more information, then why he not called us this time also for interrogation? Why Eow directly arrested our clients?,” senior counsel Desai raised the moot question on the very reason of arrest of two professional auditors who were just doing their job. (UNI)