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Jagan/Deloitte Audit Scam
by artood2 Sat Nov 12, 2011 3:21 pm
http://www.dnaindia.com/money/report_jagan-mohan-reddy-links-return-to-haunt-deloitte_1611254
According to sources, Deloitte valued Jagati at about Rs3,500 crore in 2008. However, the auditing major dated it to 2007. The valuation was alleged to be many times more than the actual valuation done by another auditing company based in Chennai — Jagadeesan and Co. The Chennai firm valued the company at about Rs196 crore in 2007.
However, Jagati approached Deloitte for a fresh valuation in 2008 and the firm is accused of inflating the value of the asset, which was earlier valued by the Chennai firm, at about Rs3,500 crore.
According to sources, Deloitte valued Jagati at about Rs3,500 crore in 2008. However, the auditing major dated it to 2007. The valuation was alleged to be many times more than the actual valuation done by another auditing company based in Chennai — Jagadeesan and Co. The Chennai firm valued the company at about Rs196 crore in 2007.
However, Jagati approached Deloitte for a fresh valuation in 2008 and the firm is accused of inflating the value of the asset, which was earlier valued by the Chennai firm, at about Rs3,500 crore.
artood2- Posts : 1321
Join date : 2011-04-30
Re: Jagan/Deloitte Audit Scam
by truthbetold Sun Nov 13, 2011 6:14 pm
A rumor doing rounds in political circles is that Jagan arrived at a compromise with Mataji and paid a huge sum (thousands of crores) as party fund. The compromise is based on a promise that Yuvraj will be supported to get to the throne in 2014. Jagan's party may continue till after 2014 to corner TDP and elected MPs will support yuvraj. Cases against Jagan will be watered down or internally compromised to get him out of the jam. He may even get support for AP CM post if he can get sufficient number of seats on YSR banner. That seems to have caused rethink in some YSR group cong MLAs who are slowly sliding back to mother ship. Complicated logic. But AP politics is high stakes gambling.
truthbetold- Posts : 6799
Join date : 2011-06-07
Re: Jagan/Deloitte Audit Scam
by artood2 Sun Nov 13, 2011 6:45 pm
truthbetold wrote:A rumor doing rounds in political circles is that Jagan arrived at a compromise with Mataji and paid a huge sum (thousands of crores) as party fund. The compromise is based on a promise that Yuvraj will be supported to get to the throne in 2014. Jagan's party may continue till after 2014 to corner TDP and elected MPs will support yuvraj. Cases against Jagan will be watered down or internally compromised to get him out of the jam. He may even get support for AP CM post if he can get sufficient number of seats on YSR banner. That seems to have caused rethink in some YSR group cong MLAs who are slowly sliding back to mother ship. Complicated logic. But AP politics is high stakes gambling.
Nothing is going to impact Jagan. I am more interested in how it impacts Deloitte. How does the mothership react to it?
artood2- Posts : 1321
Join date : 2011-04-30
Re: Jagan/Deloitte Audit Scam
by truthbetold Sun Nov 13, 2011 6:54 pm
artood2 wrote:
Nothing is going to impact Jagan. I am more interested in how it impacts Deloitte. How does the mothership react to it?
Is it comment on Indian political system? Or are you attributing it to Jagan's innocence? or Are you suggesting that Jagan will perform Houdini act all by himslef?
truthbetold- Posts : 6799
Join date : 2011-06-07
Re: Jagan/Deloitte Audit Scam
by artood2 Sun Nov 13, 2011 7:04 pm
truthbetold wrote:artood2 wrote:
Nothing is going to impact Jagan. I am more interested in how it impacts Deloitte. How does the mothership react to it?
Is it comment on Indian political system? Or are you attributing it to Jagan's innocence? or Are you suggesting that Jagan will perform Houdini act all by himslef?
That is my comment on Indian political and judicial system.
artood2- Posts : 1321
Join date : 2011-04-30
Re: Jagan/Deloitte Audit Scam
by truthbetold Sun Nov 13, 2011 7:19 pm
aartood2 wrote:truthbetold wrote:artood2 wrote:
Nothing is going to impact Jagan. I am more interested in how it impacts Deloitte. How does the mothership react to it?
Is it comment on Indian political system? Or are you attributing it to Jagan's innocence? or Are you suggesting that Jagan will perform Houdini act all by himslef?
That is my comment on Indian political and judicial system.
Can't argue with that. Laloo is still around. However Laloo's case was watered down by the then UPA govt for his political support.
truthbetold- Posts : 6799
Join date : 2011-06-07
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