Fwd: IIISLA Financial Irregularities, not given in your Audit Report (Delhi Undeclared Account)

[Chand Bhatia]

---------- Forwarded message ---------
From: Chand Bhatia <bhatia...@gmail.com>
Date: Wed, Mar 30, 2022 at 5:09 PM
Subject: IIISLA Financial Irregularities, not given in your Audit Report (Delhi Undeclared Account)
To: <sharad...@icai.org>
Cc: lalits...@yahoo.co.in <lalits...@yahoo.co.in>, <shivpr...@gmail.com>, Sreekumar S Pillai <sspill...@gmail.com>, Nirmal Tripathi <nirmal.tr...@gmail.com>, nirmal tripathi <nirmal....@rediffmail.com>, naishadhdesai <naisha...@live.in>, Tanmoy Sarkar <tsar...@gmail.com>, Ashok Kumar <ashok....@gmail.com>, Rishi Bhasin <rishibh...@yahoo.co.in>, Vipin Shukla <vipin_sh...@yahoo.co.in>, santosh rajanna <santosh...@gmail.com>, ajay girdhar <ajaygi...@gmail.com>, Yogesh Patil <yogeshp...@yahoo.co.in>, Suresh Mathur <sur...@irdai.gov.in>, <gurd...@gov.in>, IIISLA Hyderabad Hyderabad <ad...@iiisla.co.in>

 

Dear Mr. Sharad Sinha

Chartered Accountant and Statutory Auditor,

 

I hope you are in good health and wish you  good health.

 

You are appointed an Auditor of Indian Institute of Insurance surveyors and Loss Assessors (IIISLA) by the General Body and members of the Institute expect you to present true financial audit and/or irregularities in your audit report. You are also bound with your code of conduct as laid down by the Institute of Chartered Accountants (ICAI).

 

But I regret to say that I have come across certain such documents and the Institute's financial irregularities, which are not reflected in your audit reports. These have been rather concealed or evaded from your Audit Report. I am recording the same as below and expect your response being a member of the IIISLA.

 

1.      Annual Accounts of Accounting year, 2020-21 were rejected in the AGM held on 27-12-2021 due to these irregularities and one of them is that a huge amount (about 5.73 Lacs) showing outstanding in the name of Mr. Lalit Gupta has been removed from accounts of 20-21, which was appearing in earlier years. You have only stated that the same is resolved. But how has the same been resolved is not mentioned in your report. My inquiries have revealed that this money is adjusted in various expenses, for which either bills are not produced or only photocopies of the bills are submitted. There have not been any verifications even of photocopies of such bills.

 

2.      It is for similar financial irregularities that IRDAI appointed a special auditor M/S Anadam & co. for audit of accounts from 2017 onwards and his two reports submitted before IRDAI have pointed out serious financial discrepancies.

 

3.      This was February 2018, when I brought to your notice and also to the notice of the Council about an undisclosed account in the name of IIISLA being operated at one of Delhi Branch of BOB under signature of Mr Lalit Gupta & two others. But you did not  take notice of my mail. There was no mention of this in your audit report for year 17-18. You very casually (or deliberately to hide the fact as Lalit Gupta was then the president) mentioned in the report in general that many chapters and zones have not submitted their accounts.

You never reflected any direct mention of this Undisclosed Delhi account in your reports till Anandam & Co. directly mentioned this account in his report in 2020. This is a deliberate and serious allegation on you.

 

4.      I have now come across a letter/mail which was originally written by Mr. Vipin Shukla, past Treasurer IIISLA. The mail is dated, 9-6-2021, which was tagged to Anadam & Co. audit report, specifically referring to Delhi’s undeclared account. Mr. Vipin Shukla has very clearly mentioned that the Delhi account may cause serious repercussions on GST and other tax liabilities if not solved.  The copy of the mail is being attached for your ready reference. This mail is forwarded to you by then president Mr Rahul Jadhav on 14-6-2021 seeking your opinion. You have then promptly replied to all council members including nominee directors on the same day.

 

But I am surprised by your reply, which clearly reflects your connivance with Culprits so as to sweep the dust under the carpet and bluff the general members. You have advised that the Zone may submit a revised account and then that may be included in the annual account. I wonder if this is ethical on your part as an auditor to advise such a thing to the company. I have a few more similar irregularities which are never revealed in your audit reports. I will expose these before the appropriate forum.

 

This revelation of your working has further alarmed me that many of the anomalies of accounting have been adjusted in zonal & chapter accounts and you have merged them in annual accounts. I am separately writing to ICAI Disciplinary committee in this regard and also to GST and Other Tax Authorities so that who is responsible for such financial irregularities is properly inquired and culpable is punished rather than IIISLA members keep suffering of pilferage of their hard earned contributions to IIISLA.

 

Meanwhile I also expect your reply to my observations and your mail in regard to Delhi Account. I am afraid that since one of the main culprits of account Mr. Lalit Gupta is now holding the president post of IIISLA and you in connivance with him may hush up the same as advised in your enclosed mail.

 

I am also forwarding this mail to all members, as they should also be apprised of IIISLA Account irregularities.  

 

 

 

C K BHATIA

F/N/00097

 

CC: All Council members.           

[Debashis Karmakar]

Dear all,

Today who are in evil acts , they are the ruller. Its a fatal injury to our mother institution IIISLA. either to take it seriously, pl all of my brothers and sisters, to cure and cut the portions of cancer, or be prepared to slow death with the profession.

Regards,

Debashis Karmakar

On Mon, Apr 4, 2022 at 12:48 PM hrd774 <hrd...@gmail.com> wrote:

Bhatiaji, If you have the facts, please complain to the ICAI with supporting documents. 

This will bring out the truth.

I can help you. I'm out of India for the moment. But later we can coordinate. 

CA Haituk Desai

+91 98201 86763

Sent from my Galaxy

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

From: 'MANOJ BHATT' via surveyors-voice <surveyo...@googlegroups.com>

Date: 02/04/22 12:32 am (GMT+04:00)

To: bhatia...@gmail.com, Surveyors-voice <surveyo...@googlegroups.com>, IS group <insurance...@googlegroups.com>, punjabs...@googlegroups.com, IIISLA Kerala Directory 2016 <iiisladir...@gmail.com>

Subject: Re: Fwd: IIISLA Financial Irregularities, not given in your Audit Report (Delhi Undeclared Account)

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[Naresh Kumar Kukkar]

Dear Brothers, 

Mr. Sharad Sinha is associated with IIISLA  and knows IIISLA in a good way.  Still, such discrepancies on his part put a question mark on his professional competency.  All things should be transparent and settled in a legal way so that there must not be any question mark on Money Matters. 

With regards   

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Naresh  Kumar 

Govt. Approved Valuer (Plant & Machinery)

IBBI Regd. No. IBBI/RV/02/2019/10907

Insurance Surveyor

Chartered Engineer

Ph. No. -9814706491, 01638-254054

Address for Correspondence - 1471/83, ganesh nagri , Jalalabad-152024 ( Punjab )

[Chand Bhatia]

Nareshji

You have stated of question mark on the professional competency of Mr Sharad Sinha. I think you mean more of his professional integrity than his competency. For that matter integrity of our own council members is also under question on the issue of Delhi Account.

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Chand Kumar Bhatia
+91 98102 31248

[Naresh Kumar Kukkar]

Dear Sir ,

Liability under companies act 2013 

With regards 

[SURENDRA JAGGA]

Dear All,

IIISLA had suffered lot for discrepancies in accounts but still every year we are continuing with same accountants and Auditors,

does our CC has will to bring transparency in accounts ?

Thanks & Regards,

S.V.Jagga,

Surveyor & Loss Assessor,

Navi Mumbai Office :

"ANUBHUTI" Plot No. 19, Sector 15,

Near Proviso Tower, Koparkhairane, 

NAVI MUMBAI 400709.

Phone Off.  9167650335

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