ISKCON to appeal the decision of Governing Council of the Institute of Chartered Accounts of India

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By Dayarama Das

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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1 Akruranatha

People have been asking me about an article about the Bangalore case by “Akruranatha Dasa” posted on a website somewhere, but the fact is I did not write the article. The by-line says the article was written in India and I can only surmise that there is a devotee in India named Akruranatha Dasa.

I am following the ongoing proceedings by reading articles such as this one. If I understand correctly, in 2005 ISKCON Mumbai had complained to the ICAI — an Indian association that regulates professional conduct of chartered accountants — about the accounting performed by one IRM devotee named V.L. Varadarajan.

In June of 2011, the ICAI determined that Mr. Varadarajan was guilty of professional misconduct in connection with his signing back-dated account statements in order to support IRM’s fraudulent position that the temple in Bangalore was owned by a defunct corporation called ISKCON Bangalore, rather than by ISKCON Mumbai, which actually owns all the ISKCON temples in India and receives audited financial accounts from such temples from which it prepares consolidated financial statements encompassing all ISKCON’s temples in India.

In January of 2013, the Governing Council of the ICAI conducted a hearing for final action on the report issued in June of 2011. Representatives of ISKCON Mumbai were not aware that the Governing Council was conducting a hearing at that time and did not attend the hearing, but Mr. Varadarajan attended to defend himself.

Recently, the Governing Council of the ICAI decided to reject the earlier determination that Mr. Varadarajan was guilty of professional misconduct.

ISKCON Mumbai vows to appeal that decision of the Governing Council, which had the effect of clearing Mr. Varadarajan’s name. After all, there had been a prior determination by the ICAI’s disciplinary committee that Varadarajan was guilty of professional misconduct, and there had also been a ruling by the High Court of Karnataka determining facts which clearly pointed to Mr. Varadarajan’s back dating of accounts in pursuance of a fraud, which ought to clearly support a finding of professional misconduct.

Presumably there is some Court in India which hears such appeals.

It seems the decision mainly affects the reputation and career of the accountant, V.L. Varadarajan, and not the determination of the High Court that the Temple in Bangalore is a branch of ISKCON Mumbai.

Comment posted by Akruranatha on June 22nd, 2013

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