Scope of Investigation Committee (IC) w.r.t Ghost Employee Fraud

[Vamsi Krishna]

Dear Members of MHV

We are sharing the Scope of our IC with you all for your review and suggestions, if any. But note that we may have limitations to consider all or any of the suggestions.

The Scope

The purpose of Ihe Internal Committee set-up to investigate the financial fraud w.r.t the Ghost Employee case, within 1 month. The scope as we see it is:

• Understand the modus operandi of the fraud from the current investigation carried out by MC and JLL ethical committee. And add to or point out any further areas which need to be further investigated.
  
• Collect the estimates of Fraud from the MC and validate the extent of impact.
  
• Investigate where the system/process failed for this fraud to take place.
• Assess if we need to have an independent professional audit firm to conduct forensic audits of the last 3-5 years, which will assess all financial controls, accounting practices and so on. Financial controls and controls are the first and foremost aspects of checks and controls.
• Recommend any further actions to be initiated for recovering the loss and for completing formal investigation of the matter.
• Collate all queries from members of association and submit to MC for formal response.

If there are any suggestions which we should include in the scope, please write to mhv...@myhomevihanga.co.in by 10th Jan ' 25 EOD only.

However, please note that given the limited time of 1 month and the voluntary nature of IC, we may not be able to include all suggestions. Apart from that, IC will not pursue legal or police actions under its purview. If such action is needed, IC can make a recommendation, which the members of association or the General Body may evaluate.

Best regards

IC - MHV