[CPProt.net] India: Man behind Rs 100-cr Husain art deal is accused of forgery

[Museum Security Network / Cultural Property Protection Net (Ton Cremers)]

 Man behind Rs 100-cr Husain art deal is accused of forgery 
  
Mumbai police begin probe on complaints from HDFC, two chartered accountants

  
PRANATI MEHRA 
  
MUMBAI, April 21 Guru Swarup Srivastava, the man who shot to fame last year
when he announced a Rs 100-crore mega deal for 100 paintings by painter M F
Husain, has been accused of forgery by HDFC and two Mumbai chartered
accountants. 
Tomorrow, as Srivastava, 52, with actor Fardeen Khan and Husain in tow
announces details for an art auction, the Economic Offences Wing (EOW) of
the Mumbai Police will begin investigations by talking to one of the CAs, P
S Shetty of Santacruz. 

Shetty and the second CA, Vasantraj Kothari, have alleged in complaints
filed at two different police stations that Srivastava forged their
signatures on balance sheets, one of which was submitted to HDFC (Andheri
West) to obtain a Rs 60-lakh loan to buy a flat in Lokhandwala where
Srivastava now lives. 

In their police complaints, the CAs claim they realised their signatures had
been forged after Income Tax officials called them in for questioning. 

Shetty filed his complaints on January 11 in the Vakola police station and
Kothari in March with the MRA Marg police station in South Mumbai. 

HDFC, too, has filed a complaint with the MRA Marg Police on March 18 and
sent a reminder to the police on April 5. 

When contacted, Mumbai Police Commissioner A N Roy said: ''The complaints
are now with the EOW which is investigating the case.'' 

Asked about the home loan for the Lokhandwala flat, the legal officer of
HDFC, S N Shroff, told The Indian Express: ''Srivastava had come to us as a
self-employed person. We took the balance sheets as true. After inspecting
the property, which is mortgaged to us during the term of the loan, we
released the amount.'' 

Records show that Srivastava (as sole proprietor of his companies), has
declared incomes of Rs 49,253 for the financial year 2001-02 and Rs 1,32,640
for the financial year 2002-03 in his income tax returns. 

The Swarup Group became a private limited company in 2004. In the Profit and
Loss Account statements bearing what Shetty calls his forged signatures, the
Swarup Group's income for the FY 2001-02 is shown as Rs 17.23 crore. 

Shetty-who has once done business with the Swarup Group-complained to the
police that Srivastava had forged his signatures on audit reports and
statements of profit and loss accounts for four years from 2001 to 2004. 

He sent a copy of his complaint to the police commissioner's office on
January 15. 

''Life has been hell for me for the last three months ever since I was
called by the Income Tax department on January 10 to answer questions on
these documents,'' said Shetty. ''That's when I realised that my signature
had been used.'' 

Shetty made another complaint related to two applications-seeking deduction
of tax at source given for money being sent abroad-to Standard Chartered
Bank's M G Road Bank in Mumbai's Fort area. 

The amounts are US $45,000 and US $88,229 and the forex certificate has the
seal of Shetty's company and his signature, different from his usual sign. 

The remittances were to one Jiao Cheng Chan, China, and S K Shipping,
Singapore. 

The Indian Express sent Standard Chartered Bank a questionnaire over e-mail
but despite repeated reminders there was no response. 

In his complaint, the other CA, Vasantraj Kothari, said it was in March that
he found his signature and seal (both wrong) with his correct registration
number used on balance sheets of a firm called G S Chemopharma, whose
proprietor is Srivastava. 

According to the complaint, these balance sheets, for the years ending March
1999, March 2000 and March 2001, were submitted by Srivastava to take the
HDFC loan. 

 

http://www.indianexpress.com/full_story.php?content_id=68903