Fwd: Adukia-sation of ICAI - Where is our Profession headed?

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vikas garud

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Dec 4, 2012, 4:43:31 AM12/4/12

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Regards -

CA. Vikas Garud.
M.Com., LL.B(G), Grad.C.W.A.,F.C.A.
Chartered Accountant.
0253-2316384 / 2579084, 9823118834
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---------- Forwarded message ----------
From: arun giri <arun...@gmail.com>
Date: 4 December 2012 15:07
Subject: Adukia-sation of ICAI - Where is our Profession headed?
To: arun giri <arun...@gmail.com>

Dear All,

I have always believed in the old adage " What goes around comes around. " When Rajkumar Adukia, our evergreen Central Council member called me yesterday evening to complain about the mails circulating about his dismal performance as a CCM, I felt a sense of poetic justice. Exactly 3 years ago when I had contested the Central Council elections as the youngest candidate in the country, I was outraged to see Adukia shamelessly buying votes by distributing free books to thousands of members; the books apparently/supposedly written by him. The idealist that I then was or tried to be, I wasted no time in lodging a formal complaint with the Returning Officer, clearly pointing out the gross violation of Election Code of Conduct. Needless to say, no action was taken. Adukia won handsomely while I struggled for every vote on the call for reforms, finally mustering 978 votes and finishing 15th out of 25 candidates, but with no regrets.

Adukia is now back to his shenanigans .... His books (gifts) have started reaching members across Western Region, just in time so that members remember his name when they enter the polling booth. But this time Adukia has not stopped at books. What has gone largely unnoticed is the record number of FREE DINNER MEETINGS organized by Adukia for Members in Industry across Western Region over the last 9 months, all in the name of Industry bonding. Total expenditure incurred by the ICAI on these dinner parties would probably exceed at least Rs. 1cr or possibly much more. I attended one of those dinner parties held in Pune and protested to Adukia that he was running an election campaign at cost of Institute, but to no avail. ( Disclaimer: I left the get together without having dinner. ) Adukia has abused his position as Chairman of Committee for Members in Industry to buy Industry votes. A former Council Member pointed this out to ICAI President and ICAI Secretary but did not even receive a reply. But the final nail in coffin was when one of our Illustrious Past Presidents Mr. V.B. Haribhakti sharply criticized Adukia's parties/freebies in a letter addressed to ICAI President. Am re-producing the relevant para from Mr. Haribhakti's letter:

“I also understand from an “open letter” which has been received by me that the Committee for Members & Industries organized a meeting for Members & Industries at the Trident Hotel, Bandra, Bombay, where Free Dinner was served to all attendees at the cost of the Institute. If so, whether the expenditure on such a Dinner was authorized by the Executive Committee? I also understand that a free dinner was held at a Hotel Arora, Pune. Did the “budget “approved by the Council provided for “Free Dinners” and whether the expenditure on free Dinners was authorized by the Executive Committee? I am sorry to raise the above questions. I am constrained to do so because the fair name of our dear Institute is involved.”

Despite all this, Adukia not only called me yesterday but also defended himself , repeatedly saying " You are not aware of my contribution to Profession over last 15 years as Council member. " I posed only one question to him... " Adukia ji why did you leave the council meeting as soon as discussion on Nagpur land deal started?" Thank God I got an answer... Adukia's response ... " I could have had Family Emergencies. " However there was no explanation as to what was the so called family emergency that occurred Miraculously at the same time when Nagpur land deal discussion began! There was also a back and forth between Adukia and me on him being heckled at a CPE event in Pune, which he claimed was exaggerated. But again he had no answer when asked as to why did he keep mum when he was badgered with questions from members in Pune over the 100cr Nagpur land deal. Finally I lost my patience when Adukia asked me to stop circulating/forwarding such mails. I shouted back that even if he were to win ( which is quite likely ) we would constantly keep a watch on his every word and step in the Council.

15 years ago when Adukia first entered the Council, he was an exception. Today every second Council member is an Adukia or even worse. It is a sad reflection on We the Members who have become so gullible that a free book or a free 5 star dinner is enough to BUY our vote. It speaks volumes not only about the rapid deterioration in the quality of Council members but also the changing composition of the electorate, which can be easily swayed by great Actors like Adukia.
Even the people of Bihar finally got tired of the maverick Lalu Yadav and threw him out of power. I am not even a little hopeful that our professional colleagues will do something similar to the likes of Adukia.

Unfortunately for our once glorious profession, Adukias are it's new face and brand ambassador. No wonder then that very few good persons/professionals are even willing to contest Central Council elections and the few good ones we have - like a Jayant Gokhale do not any longer want to be a part of this malaise. The resulting consequence being that our Council has become a 32 member private club where you and me are mere spectators with hardly any say in how our apex body functions. We have a President in Jaydeep Shah who, no one recollects as to when was the last time he spoke on a technical topic. My great friend and inspiration M.R. Venkatesh asked a valid question - How many Council members are even aware of the exact no. of accounting standards pronounced by ICAI? Make no mistake - Rajkumar Adukia, Jaydeep Shah and Co. represent everything that is wrong with our profession and the Council..... The only question we need to ask now is: is this trend irreversible?
If the answer is Yes, then voices of ordinary members like you and me will find no takers in days to come. That fateful day I will accept defeat and shall with lot of pain, surrender my professional identity - my ICAI membership. Till then the fight continues......to quote my best friend - Bachenge toh aur Ladenge............

regards,