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Thursday, Aug 22, 2019

Now, DSK accounts to undergo forensic audit

Police say the forensic audit will help establish a clear connect with the fund trail.

pune Updated: Nov 20, 2017 23:12 IST
Nadeem Inamdar
Nadeem Inamdar
Hindustan Times, Pune
The Gold Leaf project under construction in Baner.
The Gold Leaf project under construction in Baner. (Sanket Wankhade/HT PHOTO)

The economic offences wing (EOW) of Pune police is going for a forensic audit of the accounts of firms owned by real estate developer DS Kulkarni.

The forensic audit is a specialised activity by accounting experts who examine and evaluate a firm or an individual’s financial details and information which is then used as evidence in court.

The forensic auditors are usually required in cases of fraud, embezzlement or financial misappropriation.

Assistant commissioner of police (ACP), (EOW), Milind Patil said, “The EOW has decided to go ahead with the forensic audit of the account of the DSK Group and it will be done by professional chartered accountant (CAs) empanelled by the state government for this very purpose. There are 14 to 15 empanelled CAs currently with the government and we have asked them to submit their quotations. The lowest bidder will be given the task of forensic auditing,” he said.

Patil further added that the forensic auditing will help the police establish a clear connect with the fund trail and will be able to find out the exact path of siphoning. “Forensic auditing is regarded as an expert evidence under Section 45 of the Indian Evidence Act and it cannot be challenged in court of law,” he added.

The EOW has set November 27 as the deadline for completing the bidding process.

The EOW has also prepared the Maharashtra Protection of Interest of Depositors (MPID) report which will be submitted to the district collector. Under Section 4, the EOW will request the collector to submit the report to the home department which will then issue a notification to appoint a competent authority to take charge of all properties and will submit the necessary documents before the court for further directions, Patil said.

The EOW officials said that they had been able to identify 75 properties of the DSK Group so far and are also in process of appointing a special public prosecutor in connection with the case.

The city police had hired the services of a professional Mumbai-based CA firm as a forensic auditor to investigate into the ₹300 crore Temple Rose Fraud in which around 5,000 investors were cheated during the past few years.

First Published: Nov 20, 2017 23:11 IST

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