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Justice

Madhu Pandit’s auditor gets a clean chit from ICAI against all odds

MEDIA RELEASE

ISKCON (registered in) Mumbai to appeal the decision of Governing Council of the Institute of Chartered Accounts of India (ICAI)

Recently the Governing Council of the Institute of Chartered Accounts of India (ICAI) passed an order rejecting the report of its own disciplinary committee and thus dismissed the complaint filed by ISKCON registered in Mumbai.

ISKCON registered in Mumbai is appalled by the decision of ICAI to reject the report of its own disciplinary committee and fails to understand how the Governing Council of ICAI rejected the findings of its own disciplinary committee when the Hon’able High Court of Karnataka, after hearing both, the lawyers of Madhu Pandit Das and lawyers of the Mumbai Society for many weeks has very clearly held that the accounts of the Bangalore Temple were manipulated by Madhu Pandit Das and he got them certified by V.L. Varadarajan.

In June 2011, the Disciplinary committee of the ICAI concluded VL Varadrajan, “guilty of professional misconduct”.

It is admitted fact that Mr. V.L.Varadarajan had signed two sets of statements of accounts for the year ending on 31st March, 1991 and this was categorically recorded in the report submitted by the Disciplinary committee of the ICAI. ISKCON registered in Mumbai has questioned how can the Governing Council of ICAI disregard such a categorical finding given by its own disciplinary committee and refused to take steps against Mr. V.L.Varadrajan.
“Reading of this order makes it amply clear that the Governing Council of the ICAI was not fully explained the case and this happened due to the absence of anyone from ISKCON side explaining the case to the Governing Council at the time of hearing” said Sri Dayaram Das, who filed the complaint with ICAI on behalf of ISKCON registered in Mumbai.

ISKCON registered in Mumbai has pledged to appeal the decision of the ICAI to reject the report of its own disciplinary committee.

Background Information on the Case

The ISKCON Temple at Bangalore is the Property of the ISKCON Society registered by Srila Prabhupada in Mumbai and Madhu Pandit Das is the President of the Bangalore branch of ISKCON registered in Mumbai. Madhu Pandit Das has been managing the ISKCON Temple at Hare Krishna Hill, Bangalore in his capacity as the Bangalore Branch President of the Mumbai Society.

In 2001, Madhu Pandit Das began to fraudulently claim that the ISKCON temple at Bangalore never belonged to ISKCON registered at Mumbai and that it always belonged to the defunct society registered at Bangalore. Madhu Pandit Das hired the services of auditor V.L. Varadarajan and generated fraudulent accounts statements in the name of the Defunct Bangalore Society to legally claim the Bangalore ISKCON Temple in name of the defunct society.

On May 23rd 2011, The High Court of Karnataka passed an order that the ISKCON Society registered in Bangalore in 1978 is a defunct entity having no legal existence and that by fabricating documents and falsifying accounts Madhu Pandit Das and his family members are falsely claiming the ISKCON Temple at Bangalore as the Property of that Defunct Society. It also held that the accounts of ISKCON Bangalore were manipulated by Madhu Pandit Das with the help of V.L. Varadarajan.

In 2005, the Mumbai head office of ISKCON had complained to Institute of Chartered Accountants of India (ICAI) against Mr. V. L. Varadarajan for deceptively signing back dated Account Statements for a period of 12 years from 1989 to 2001 in one stroke.

In June 2011, the Disciplinary committee of the ICAI concluded VL Varadrajan, “guilty of professional misconduct”.

The said report was sent to the governing Council of the (ICAI) for the final decision. The Governing Council of the Institute held the hearing on the said report in January 2013 which was attended by Mr. V.L. Varadarajan but representatives of the ISKCON reg. in Mumbai (the complainant) were not aware of the said hearing & therefore unfortunately could not attend the said hearing in January, 2013.

End

For more information please contact:
Dayarama Das: 9007278496

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