The Hindu Business Line : Vacuum builders get willing accountants to attest

STORY so far: On our long drive to the construction site, there is a surprise addition, Vikky. Another surprise (or, rather, shock) is the site itself, which is bereft of any activity though the company has been pumping in money for materials and labour.

Soon we meet Gintee, the contractor, in his office, and he explains the work progress. He offers to take us to the site the next day. Suspecting fraud is one thing; but we were now in the frontlines of a fishy situation.

Episode 34

"We have spent Rs 5 crore on the project," announced Chandru, looking from his worksheet. He had assembled the figures from Gintee's books and, predictably, they had tallied with whatever was there in the HO's records. "At least, the ledgers don't tell a different story."

We had returned to our hotel room, after all that research in Gintee's office. We had started off from HO with only a suspicion of fraud. Tension was in the air, as we all felt that we were getting into the thick of all muck.

"Only amateurs mess up their book-keeping," said Balu. "This fellow is after big gains."

Gupta was silent all along, pondering. "There is a new dimension to the problem," he said at last.

"What's that, Guptaji?" I asked.

"Did you notice, Swati," he asked, "something odd in the statements that Gintee submitted to us?"

"Well," I said. "They were on schedule. Had all the rows and columns we had prescribed, and gave the required details."

"Wait," Balu interjected. "Gintee had got his paper signed by his finance chief, which was standard. Yet, there was something weird, I remember... "

"The reports and statements were attested by an external auditor," said Gupta grimly. "One K. M. Oorty."

"Oh, no, not Oorty again," sighed Chandru. "That chap was involved in the notorious transfer racket and HR scam."

"Shall I contact the Institute of Chartered Accountants of India," I asked. "To know more about the auditor?"

"What will they tell you?" asked Balu. "Except his address and qualification date."

"They will take action against the erring professional," I said emphatically. "An independent permanent directorate to exclusively deal with all disciplinary cases is on the anvil."

"That would happen in the long run, Swati," Chandru sighed, "by when we all will be dead. Sorry to dampen your hopes, but the reality is different."

"I think the discussion is going off in a tangent," said Gupta. "Law will take its own course. We may prefer a formal complaint after we return to our base. But what is urgent is tomorrow. We need to plan for that."

"Possibility one," said Balu. "Gintee will take us to a different site and say that's where our work is going on."

"That would be similar to how builders normally behave," said Chandru. "Prospective buyers are ferried in mini-vans to plots that look so good that people are tempted to sign on the dotted lines to book before somebody else snatches the property. It would be only later that they would realise that what they saw was not what they conquered."

"Okay, strategy for the first possibility is to just see things and not to ask any questions," said Balu.

"No," I cried. "How can you get fooled?"

"Here is a flash," Gupta said, reading from the TV screen. "Gintee's construction in Chennai has been found to be unsafe. And the Corporation has begun demolition."

"Ah, I have seen that multi-storeyed building," I said, seeing the visuals. "They got permission for four floors, and went on to build four more. No wonder the pillars snapped."

"Boss," Chandru was on the phone, already, answering the incoming call. "Yes, sir, we can invoke clause 54."

I remembered that number because it had been drafted after much discussion — a clause that enabled the company to drop a contractor when subsequent events raised serious questions about his quality of work.

"Possibility two," Balu continued after the call was over. "Gintee dares us."

"Pretty serious stuff," Gupta nodded grimly. "He takes us to the empty site, unless by some miracle he is able to put up structures overnight. And asks us in simple terms, how much cut do you want."

"Will he offer 15 per cent?" asked Chandru naively, and I frowned at him. "No, I was only trying to read his mind. Or, should we keep him guessing by indicating we are with him, because otherwise our lives may be in danger."

"I think you have become too soft," chided Balu, "after what happened in Jakarta."

"Your life danger mein, sure," said Vikky softly. "So, I have a plan."

"We all carry Kirpans?" I asked, bewildered.

"I'll carry mine," he said reverentially. "And, my bhais will be with me. I went to the dhaba on the NH and got about six of the drivers from Gurgaon. They are driving the Maruti carriers thousands of miles. Tomorrow we will be following Gintee's van in a few Volvos. I will be in radio contact with my bhais."

"And in case of a dishoom-dishoom, you guys jump from the trucks?" Chandru asked wide-eyed.

(To be continued)

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