Considering the complexities of multiple sources of inward flow of funds and routes adopted to divert the same, Enforcement Directorate (ED) is considering adopting a “forensic audit” to have a clearer picture of the money trail relating to earnings and investment made by now-suspended Trinamool Congress leader Sheikh Shahjahan.
Sources in the knowhow of things said that for the said purpose, ED officials are thinking of getting all relevant documents procured by them in the matter by forensic audit experts.
Forensic auditing is a specialised area within the accounting standards through which financial records of an individual or an entity are examined to extract evidence in a legal proceeding.
On this count, sources added that the Central agency especially wants to get forensic audits done for the books of accounts of the two export agencies through which Shahjahan used to conduct his business of exporting fish and fish products.
ED officials expect that forensic audit will not only help their officials have a clear idea of money but also throw some light on the nature of the Foreign Exchange Management (FEMA) violations in this export business.
The third count on which a forensic audit can help ED is establishing links between Shahjahan’s business and the multi-crore ration distribution case in West Bengal.
One of the two export firms which are under ED’s scanner is registered in the name of Shahjahan’s daughter Sheikh Sabina, and the other in the name of his younger brother Sheikh Sirajuddin, who is currently absconding.
The move is perceived to be a desperate initiative on part of the Central agency to expedite the probe process in the matter in the wake of scathing criticisms from different courts on the slow pace of investigation in the matter.
(This article has been published via a syndicated feed)
