your password has been reset successfully, Please login again.

Former CFO: PwC cooked books, tax evasion and break laws

Former CFO, Sarvesh Mathur takes PwC in court for cooked books, tax evasion, and law breaking.
BY BEx Bureau
BusinessEx
Jul 25, 2017

The Indian arm of global consultant firm PwC former CFO has filed a defamation suit accusing his erstwhile employer of cooking books, evading tax, willfully breaking several laws and then intimidating, cheating and tarnishing his name when he refused to help cover-up the white-collar crimes.

Sarvesh Mathur, former CFO of PwC between 2008 and 2011, has alleged in his complaint to the Chief Judicial Magistrates court in Gurugram, Haryana, that the company falsification in accounts has been done on several occasions, destruction of evidence and lied to government officials. In one instance in 2010, the complaint says, a PwC senior official helped adjust Rs 5 crore outside the system.

In 2010, the company booked fictitious expenses of Rs 15 crore to evade tax. On another occasion, another top official and two other executives separately backdated invoices worth Rs 93 crore by an accounting year to show the receipts in 2010 instead of the actual 2011, it says. The case is scheduled for hearing on July 25.

Mathur had forwarded some emails to his personal accounts, which he wanted to present to tax and law enforcement authorities later but he was forced to delete those emails as it is against companys policy. The company further promised that he will be provided with any information he requested to present as evidence after taking orders from the court or the authorities.

A PwC spokesperson responded to ET queries that This is a long series of defamatory attempts made against PwC by persons who seem to be acting in consort with each other with the sole purpose to harass and bring the name of PwC into disrepute. The case filed by an ex-employee Sarvesh Mathur is also an attempt in that direction to mire PwC and its officials on tenuous grounds in litigations.

We plan to apprise the Honourable Court of Judicial Magistrate of the facts. Mathur has alleged that he earned the ire of his superiors for raising several issues of falsification of accounts and legal violations and insisting that corrective action is taken. He said he was initially overruled, intimidated, humiliated, hurt financially etc, for raising his voice against the wrong doings and was gradually sidelined. He was eventually told that the management wanted him to resign even though he was not given any reason.

A PwC spokesperson had denied the allegations. PwC has always complied and will continue to comply with applicable laws and regulations and any suggestion to the contrary is merely speculative, ET reported.

Please add your Comment
SIMILAR News
February 07, 2018
Chennai-based logistics startup Genie acquires food delivery startup Dinein in all stock deal. ...More
By Akshay Arora
February 07, 2018
Joveo raises $5 million from Nexus Venture Partners in Series A funding round. ...More
By Akshay Arora
February 06, 2018
Bengaluru-based healthcare startup healthi secures $3.1 million funding in a round led by Montane Ve ...More
By Akshay Arora
February 06, 2018
RoboticsWare child company FarEye raises Rs.61.5 crore funding in Series C round of funding led by D ...More
By Akshay Arora
February 05, 2018
Energy storage systems ION Energy buys Freemens SAS in part cash and equity deal. ...More
By Akshay Arora
February 05, 2018
Pratilipi raises $4.3 million (Rs.28 crore) funding from Omidyar Network and some new as well as exi ...More
By Akshay Arora
February 01, 2018
Browserstack raises $50 million investment in series A round led by Accel Partners. ...More
By Akshay Arora
February 01, 2018
Education solutions provider iNurture has raised Rs.28 crore funding from VentureEast and its existi ...More
By Akshay Arora
January 30, 2018
Investment platform Groww secures undisclosed amount of funding from Y Combinator, Mukesh Bansal and ...More
By Akshay Arora
January 30, 2018
Bengaluru-based fitness startup CureFit has raised debt financing of $10 million from Axis Bank and ...More
By Akshay Arora
January 30, 2018
Online wedding platform The Wedding Brigade raises Rs.6.35 crore ($1 million) in pre-series A fundin ...More
By Akshay Arora
January 29, 2018
Future Supply Chain Solutions buys Snapdeal's logistics arm Vulcan Express which handled almost half ...More
By Akshay Arora