CA STUDENT MISUSED STAMPS OF CHARTERED ACCOUNTANTS

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CA Ayush Agarwal

Kolkata-Pune-Mumbai

16878 Points Posted on 01 April 2010

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 VB Khatri, Khan may have used the stamps and seals for people who had applied for bank loans to get TDS refunds and so on.

“Khan’s police statement mentions that he has been operating for the last three years. He might have used the stamps on many other financial statements. We suspect that the fraud could run into crores of rupees,” Khatri said.

SB Zaware, member, central council of ICAI, said, “Considering that Khan may have misused stamps of other CAs too and to speed up the investigation in this matter, we appeal to all the chartered accountants in the city to contact the institute and record their statements with the police. Khan has been remanded in magisterial custody.

“We have been requesting the police to recover the duplicate stamps and seals used by Khan. We have also asked them to find the hard disk of Khan’s computer,” he added.

“The ICAI appeals that financial statements prepared with the help or advise of Shahajahan Khurshid Khan by any other person with original documents for verification be submitted to the chairman, (Pune Branch), ICAI, fifth floor, Amber chambers, 28-A, Budhwar Peth,” said a statement

Replies (15)

Guest

Posted on 01 April 2010

In order to overcome such problems, ICAI must make the system foolproof.. This can be done by doing attestation of Audit Reports with digital signatures and bar code. Also 3D holograms on reports will prove fruitful. Computerisation is essential to be away from such frauds...

Max Payne

employed

2370 Points Posted on 01 April 2010

Thats such bad news Ayush....

Raj Saxena (1412th Tiger)

Struggling Student

368 Points Posted on 01 April 2010

Ayush where do u find it?

Guest

Posted on 02 April 2010

Here is the link Raj

https://www.indianexpress.com/news/Shahajahan-scam-may-run-into-crores--ICAI/592942/

C A GROUP COACHING

COACHING

2075 Points Posted on 02 April 2010

Very Very Sorry to hear this, Rather I would say that as mentioned above Shahajahan has completed the audit of a firm Jagtap Auto, which as I know is an automobile dealer & means would be having a handsome turnover, & if Shahajahan could successfully complete the entire audit ( even though it is certification forgery) he has completed it means he is smart,intelligent & fully knowledgable of the statutory laws & provisions, which I feel he would have used it Positively & correctly towards his studies & am sure he could have become a CA may be an attempt earlier or later, But where & how he utilised his intelligence was not proper, God give him the proper sense & attitude to improve himself in future & use his strength in a productive & constructive manner. here he has damaged himself irrepairably & also the said client would be in a bad shape by cancellation of audit certification & rejection of books & also some other people also for whom he has worked but are not yet come on record,