Kolkata police file charges against Audditech 360 boss.

Vivek Agarwal, son of Chouthmal Agarwal, has been identified as a co-accused in matters linked to Sunland Projects Pvt Ltd, which, together with its directors, is presently under criminal investigation and is also involved in proceedings before the National Company Law Tribunal in Kolkata.

An FIR was registered by Kolkata Police on December 22, 2023, at Rabindra Sarobar Police Station. The complaint alleges that the company's promoter carried out a "fraudulent share transfer" of 1,510,000 shares, engaged in "forging and manipulating records," and was involved in "illegally striking off" a loan of Rs 9,95,64,143 from Sunland Projects Pvt Ltd. The FIR states that these acts were allegedly executed in coordination with several co-conspirators, including Vivek Agarwal and Vishal Agarwal.

As per an 18-page order issued by the Alipore Police Court Chief Judicial Magistrate, Vivek Agarwal's residence on GT Road was searched. The police were directed "to seize and take possession of any forged documents, forged stamps & seals, computer-devices" and to ensure that "every part and portion of the aforesaid office of the accused persons is needed to be searched thoroughly".

Named as a co-accused and alleged conspirator, Agarwal faces potential imprisonment of up to 16 years if convicted on charges of fraud, forgery, and financial manipulation under the Indian Penal Code. Nonetheless, his punishment could be mitigated if the court determines a comparatively lesser role in the conspiracy.

It is also significant that his former business associate at Auditech, Subhash Chand Khandelwal, previously served as a director of Sunland Projects Pvt Ltd. The current co-partner is Pooja Agarwal. Documents presented before the Alipore Court reportedly point to procedural irregularities in a share transfer transaction involving 33.33% of the company's total equity.

The share transfer paperwork allegedly did not bear the petitioner's signature, lacked notarization, and the related gift deed was not uploaded to the Ministry of Corporate Affairs website. The matter has been brought before the NCLT for adjudication.

According to Auditech's official website, Vivek is described as a, "CA, DISA, CIFRS &CTax-UAE along with 15+ years of professional experience in managing & conducting the Management & Forensic Audit at Birla Group", referring to the Birla Group. Despite these professional qualifications, he now stands accused in what authorities describe as organized corporate wrongdoing, potentially impacting his professional reputation.

Sunland's promoter and co-accused Amit Gupta was characterized by the Sydney Morning Herald as a 'target of a criminal investigation who is alleged to have conspired with others to bribe foreign public officials and to have engaged in money laundering and other offences"."

Additionally, Vivek Agarwal's association with Auditech 360 Management Consultants has drawn attention. Questions have emerged regarding his financial sources, commercial relationships, and business practices. Scrutiny centers on the legitimacy of his income streams, the scope of his professional affiliations, and the transparency of his financial dealings-factors considered crucial in evaluating the legal and ethical standing of both Agarwal and his firm.