Explanation /Nagpur land ICAI,

Dear friends,

I am regularly receiving number of tricky questions from you all to answer. Unfortunately , i unable to answer each ,due to constraint of time. Some members are angry and repeatedly email me due to none reply. I humbly begging , apology for same. However, i am replying a number of your queries as follows :


Qus : You have claimed ,there is conformed evidence on Nagpure deal , where council was not informed . Is it correct ?

Ans : Yes

Qus : Is the evidence as said  , the informal  verbal communication with council members  as you mentioned in email ?

Ans : No , all informal communication is informal itself . How it can be formal evidence .


Qus : What is the type of evidence , you have?

Ans : various formal Emails 

Qus : Do you share with investigation committee , if they require ?

Ans : Yes 

Qus : Are you contesting for any council election in ICAI ?

Ans :No , 
Qus : Are you planning to  contest ?

Ans : No , I do not want to contest  . And  also I cannot afford time and money as required  under present scenario for contesting any election. 

Qus : Is the president or council of ICAI  has responded to you .

Ans : No, I called and sms to president but he did not pick up the call and not reply the sms . But , few council members has discussed with me .

Qus : You are a practising chartered accountant and an Anna hazare activist. Have you given any qualifying report ?

Ans : Yes , I had given qualifing audit report against a big plantation company and same news was published in economics time .

Qus : Was there any effect on your qualifing report ?

Ans : Yes , due to qualifing report and wide publicity , all plntation companies had come under  regulation of  sebi . And now , all fraud plantation company are no more.

Qus : Being chartered accountant by profession  and Anna Hazare activist , is it not difficult to run the profession  or facing any investigation ?

Ans : Yes , it is some times difficult . Like ,due to qualifying report against plantation company , I was not rewarded rather was issued notice from various government body and questioned .However , gradually ,they realized and soften stand against me .

So, our system is wrong to survive a honest chartered accountant . We can not blame our profession rather our system should blame for all .

I have seen so many chartered accountants facing trouble for only cause of honesty and they are being considered failure chartered accountant by other chartered accountants.

Qus : You are fighting openly with president and the system .Are you never fear to loose the membership of ICAI?

Ans : Every social worker has to sacrifice for interest of society . If it is required to loose for interest of my friends chartered accountant and image of ICAI , then I never fear. 

But , I fear to loose my membership  on ground of unintentional professional negligence .

Qus : All chartered accountants are busy with own schedules .So they can   support silently but not publicly . Shall you fight alone ?

Ans : Mahatma Gandhiji  was beaten alone in South Africa and started the movement of non violence . So, I am happy with silent support ,if they all are busy with work and family.

Qus : Is it correct to talk openly against ,our president of ICAI ?

Ans : No, it is not correct . It will damage the image of ICAI. But, if  our system will  not be  corrected now, it will be challenged from outside of ICAI . The challenge from outside of  ICAI , will collapse the integrity and confidence built in since years, by effort of many chartered accountants.

Qus : Is it correct to impose penal action for wrong doing of President of ICAI?

Ans : It looks bad .But we should always accept the truth , otherwise false will override the truth in future . Even Indian born former Goldman Sachs director ,Mr. Rajat Gupta was punished in USA court ,though we never doubt his intellect capacity but his mistake was never excused.

Qus : Shall  the hunger strike not damage ,image of ICAI?

Ans : I will answer this after observing the actions by  new elected body of ICAI and court order in Chennai high court .

Kind regards,

R K Mahapatra , FCA

Anna Hazare Activist 

Hunger strike call for Nagpur scam