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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.

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