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May 2010

ICAI says Shahajahan scam may run into crores

By Raman Jokhakar
Tarunkumar G. Singhal
Chartered Accountants
Reading Time 1 mins
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In the wake of a chartered accountancy student’s arrest last
week for allegedly forging documents using a CA’s stamps and seals, the Pune
branch of the Institute of Chartered Accountants of India (ICAI), now suspects
the accused may have misused stamps and seals of more chartered accountants in
the city.

Shahajahan Khurshid Khan allegedly made duplicates of stamps
and seals of CA Sunil Shankar Yelol with Yelol’s ICAI membership number for tax
audit of M/s. Jagtap Automobiles and duped Yelol of Rs.9.80 lakh.

The incident came to light when Jagtap Automobiles decided to
hand over their audit work to another CA, Vijay Anpat. Following the CA
protocol, Anpat called up Yelol to obtain his no-objection certificate about the
handover. Yelol realised that Jagtap was not his client, but the stamps and
seals carried his membership number.

According to the ICAI legal advisor, advocate V. B. Khatri,
Khan may have used the stamps and seals for people who had applied for bank
loans to get TDS refunds and so on.

(Source : forum4finance.com, 21-3-2010)

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