Who is Vivek Agarwal? Embattled Audittech 360 Boss Facing 16 Years in Jail in Criminal Investigation
Who is Vivek Agarwal: The head of Auditech 360 Management Consultants, is currently facing serious legal trouble. Partnered with Subhash Chand Khandelwal, Agarwal is the son of Chouthmal Agarwal and serves as the director of Sunland Projects Pvt Ltd, a company embroiled in a criminal investigation and an NCLT case in Kolkata.
FIR Filed Against Vivek Agarwal and Co-Conspirators
On December 22, 2023, the Kolkata Police registered an FIR at Rabindra Sarobar Police Station, accusing Amit Gupta, the promoter of Sunland Projects Pvt Ltd, of:
Fraudulent share transfer of 1,510,000 shares
Forging and manipulating records
Illegally striking off a loan worth Rs 9,95,64,143 from Sunland Projects Pvt Ltd
The FIR also names multiple co-conspirators, including Vivek Agarwal and Vishal Agarwal, as active participants in the fraud.
Police Raid at Vivek Agarwal’s Residence in Howrah
Vivek Agarwal's home on GT Road, Howrah, was raided by Kolkata Police following an order from the Chief Judicial Magistrate of Alipore Police Court. According to an 18-page court document, police were directed to:
Seize and take possession of forged documents, forged stamps & seals, and computer devices
Conduct a thorough search of the accused persons’ office and premises
Adding to the controversy, Agarwal’s former partner in Auditech 360, Subhash Chand Khandelwal, was also a director at Sunland Projects Pvt Ltd. Currently, Pooja Agarwal is listed as the co-partner of Auditech 360.
Facing Up to 16 Years in Prison
Vivek Agarwal, co-accused in this case, could face up to 16 years in prison on charges of:
Fraud
Forgery
Accounts manipulation
However, since he is identified as a co-conspirator, his sentence may be lighter if convicted.
Irregularities in the Share Transfer Process
Court documents from Alipore Court highlight severe procedural violations in the fraudulent share transfer, which accounted for 33.33% of the company’s total shares. The violations include:
The petitioner’s signature was missing on the share transfer documents
The transfer was not registered in front of a Public Notary
The gift deed was not uploaded on the Ministry of Corporate Affairs website
The case has now been escalated to the National Company Law Tribunal (NCLT) in Kolkata.
Vivek Agarwal’s Reputation at Stake
It is surprising that an individual who, according to Auditech 360’s official website, is a "CA, DISA, CIFRS & CTax-UAE" with 15+ years of professional experience, including forensic audits at Birla Group, is now accused in an organized corporate fraud case. These allegations pose a serious risk to his reputation and career.
Links to a Larger Criminal Investigation
Meanwhile, Amit Gupta, the promoter of Sunland Projects Pvt Ltd and a co-accused in the case, is also under investigation for serious financial crimes. According to a report in the Sydney Morning Herald, Gupta is a target of a criminal probe for allegedly conspiring to bribe foreign public officials and engaging in money laundering.
Questions Around Vivek Agarwal’s Business Dealings
The involvement of Vivek Agarwal, his firm Auditech 360 Management Consultants, and their financial operations, raises concerns regarding his source of earnings, professional associations, and business dealings. With multiple legal troubles and a major fraud case against him, the future of his firm and reputation remain uncertain.
