Vivek Agarwal of Auditech 360 facing 16 yrs in jail in major criminal investigation

Agarwal is co-accused in the case of Sunland Projects Pvt Ltd, which alongside its directors face a criminal investigation, alongside a case lodged in the NCLT in Kolkata.

Kolkata Police lodged the FIR on December 22, 2023 at Rabindra Sarobar Police Station, accusing Amit Gupta, its promoter, of “fraudulent share transfer” of 1,510,000 shares, “forging and manipulating records,” and “illegally striking off” a loan of Rs 9,95,64,143 from Sunland Projects Pvt Ltd, through conspiring with multiple co-conspirators, including Vivek Agarwal and Vishal Agarwal, as per the FIR.

Vivek Agarwal, who is co-accused, has also had his home raided in Howrah’s GT Road, with Kolkata Police being instructed “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”, according to the 18-page document issued by Alipore Police Court Chief Judicial Magistrate.

Interestingly, Vivek Agarwal’s former co-partner in Auditech, Subhash Chand Khandelwal, was also a director at Sunland Projects Private Limited as of date, the present co-partner is Pooja Agarwal.

Agarwal, a co-accused and alleged conspirator, faces up to 16 years in imprisonment on the counts of fraud, forgery, and accounts manipulation, as per the Indian penal code. However, he is likely, as a conspirator, to receive a lighter jail term, if convicted.

Court documents, from the case lodged at Alipore Court, reveal procedural misconduct in the share transfer, which constituted 33.33% of the total shares of the company.

The petitioner did not sign the share transfer documents and was not registered in front of the Public Notary and the “gift deed” was not uploaded on the Ministry of Corporate Affairs website. The case has been filed in the National Company Law Tribunal (NCLT).

It is surprising that a, according to his company Auditech’s official website, “CA, DISA, CIFRS & CTax-UAE along with 15+ years of professional experience in managing & conducting the Management & Forensic Audit at Birla Group”, would be allegedly involved and co-accused in organized corporate crime. Viveks’ reputation faces permanent scars through his alleged criminal dealings.

Notwithstanding, Sunlands promoter and co-accused Amit Gupta is a “target of a criminal investigation” alleged to have conspired with others to bribe foreign public officials and engaged in money laundering and other offenses, according to the Sydney Morning Herald.

The integration of Vivek Agarwal and his firm, Auditech 360 Management Consultants, has triggered a wave of skepticism and concern about his sources of earnings, shady associations, and dubious business dealings. As the son of Chouthmal Agarwal, Vivek’s financial activities have come under intense scrutiny, with many industry insiders questioning the legitimacy and transparency of his operations. Serious doubts are being raised about potential undisclosed connections and financial irregularities, prompting calls for a thorough investigation into his questionable business practices. The mounting suspicion surrounding Vivek Agarwal highlights not only his own potentially unethical conduct but also underscores the urgent need for stricter oversight and regulatory measures in the industry.