ICAI set to constitute group to expedite IndusInd, Gensol cases

New Delhi: The Institute of Chartered Accountants of India (ICAI) will constitute a dedicated group to expedite proceedings in cases related to alleged accounting and auditing irregularities involving IndusInd Bank, BlueSmart Mobility and Gensol engineering, its President Prasanna Kumar D said on Wednesday.

The cases are among nearly 10 matters involving public interest that the accounting regulator aims to decide within the next two months, he said at a media briefing after assuming office this month. "We are looking at cases which involve public interest and are at different stages," he said, adding that the review of Gensol Engineering and BluSmart Mobility has been sent to the disciplinary committee.

The audit regulator had initiated a review of the financial statements and statutory auditor's books in April last year of Gensol Engineering and BluSmart, following concerns over diversion of funds.


He added that the Centre is planning to expand the Prime Minister Internship Scheme (PMIS) to include professional services firms such as chartered accountants, cost accountants and company secretaries to widen the scope of the internship opportunities under the government's flagship skilling initiative.

"The government is making some modifications to the (PMIS) scheme and once they are announced, we will implement the scheme," ICAI president said.