Vadodara / Anand: Financial irregularities in a tone of Rs 37.3 Crore have been excavated at the famous Sardar Patel University (SPU) University.
A committee appointed to investigate the alleged financial irregularity submit his report to the SPU authorities.
Toi has learned that the probe panel has held a former head account officer (CAO) Naresh K Bhatt and former Auditor Chartered Accountant K G Patel & Company, Anand who is responsible for their duty negligence.
At the same time, the report also shows that the current auditor failed to show the 2014-15 financial year deviation on time.
After Members of SPU syndicate demanded strict action against Bhatt, Deputy Chancellor Spu Professor Shirish Kulkarni earlier this year has appointed a five-member committee led by the Retired Judge of the High Court Dhiren Karia, Narendra Dave, retired treasury from Rajkot, Professor PK Priyan from the MBA Department of SPU , The syndicate of Ketan Patel members while the assignment of Forensic Audit was given to Shah Sanjeev & Associates, Chartered Accountant and Certified Fraud Examine from Vadodara.
“We have received reports that will be placed before syndicate members on October 22 for future actions,” Kulkarni said.
The report ruled out financial fraud or fraud but showed accounting incompatibility.
Before the committee started the probe, incompatibility was said to reach Rs 29.22 Crore but the probe panel had revealed accounting incompatibility from other 8.08 crore rs which took the total financial irregularity to the RS 37.3 Crore song.
“Accounts of every organization calculation organization with audited financial statements.
In SPU, account books were not at that time with the audited financial statements,” Shah said.
In the 2014-15 book year, there were two separate discharge entries in a large book account of Rs 29.22 Crore and Rs 8.08 Crore.
“This adjustment entry is passed on the account.
This is forwarded to match the audited statement with account books,” he said.
During the forensic audit, 5,496 the 2014-15 financial book account was examined.
“We can find an adjustment entry at 1,649 ledger accounts,” Shah said, added that even a voucher to reflect RS 37.3 Crore was
SPU was rocked by RS 37 Crore financial irregularity
