The Banks shall have its own eligibility criteria for empanelment of Forensic
Following is one of the important eligibility criteria for empanelment of
Forensic Auditors which Banks are having in their list.
The name of the Firm/Company or its promoter/partner etc. should not be in the
defaulters/barred/caution list published/displayed at websites of public bodies
such as by RBI/IBA/ECGC/SEBI/CICs etc.
As per above mentioned criteria, name of the forensic auditor firm / company or
its promoter / partner etc. should not be in the defaulter list published /
displayed at website of public bodies.
For example, as per list of eligibility criteria for empanelment of Forensic
Auditors published by following Banks have above mentioned eligibility criteria:
- State Bank of India
- Bank of Maharashtra
- Punjab National Bank
- Canara Bank
GD Apte & Co., Chartered Accountants has inter alia two partners being, (i)
Chintaman Mahadev Dixit, and (ii) Prakash Purushottam Kulkarni who are also
designated partners of one LLP having name Catalyst Resolution Professionals LLP.
As per the records of the Registrar of Companies which are published on the
website of the Ministry of Corporate Affairs (Public Body website), the said Mr.
Chintaman Mahadev Dixit and Mr. Prakash Purushottam Kulkarni are showing an
affirmative Defaulting Status qua Catalyst Resolution Professionals LLP with
effect from 29/01/2018.
As on date also partners of GD Apte & Co. are shown on the defaulter list as per
Ministry of Corporate Affairs records due to their partnership in Catalyst
Resolution Professionals LLP.
Further, as per records of Registrar of Companies Mr. Chintaman Mahadev Dixit
was also Director of "Pandit Automotive Private Limited" from 01/02/2010 to
As per information available on the website of Experian credit information
website https://www.experian.in/ "Pandit Automotive Private Limited" declared as
Wilful Defaulter by Banks. It means Mr. Chintaman Mahadev Dixit was also
Director of the Company which is declared as Wilful Defaulter by Banks
In view of above information and records, GD Apte & Co., Chartered Accountants
shall not be eligible to empanel as Forensic Auditor with Banks to conduct the
forensic audit specifically on or after 29/01/2018 [date of default as per the
records of the Registrar of Companies which are published on the website of the
Ministry of Corporate Affairs (Public Body website)].
Written By: ICAI Update Team