ICAI land deal: No more probe against Past President

President of Institute of Chartered Accountants of India (ICAI), Subodh Agrawal, has strongly ruled out the chance of any further probe against the organization's former chief Jaideep Shah in the controversial Rs100 crore land deal at Pipla on the city's outskirts.

Shah, who preceded Agrawal, was charged of going ahead with an overpriced deal through a unilateral decision for building an ICAI centre for excellence. There were objections that much cheaper land could have been purchased within the city itself and the procedure grossly favoured the realtor at Pipla.

Agrawal, who openly lauded Shah as his mentor at the ICAI function, told TOI, "the matter has already been settled with the deal being scrapped and money returned. Nowadays, nobody raises the matter in the central council."

But a section of chartered accountants want further probe to indict Shah. A case has also been filed in the Madras High Court. On this, Agrawal said the ICAI would respect the court's verdict. But he refused to comment if an internal disciplinary proceeding will be undertaken against Shah if the court ruled against him. (Times of India)