Clerk booked for siphoning off Rs 3.77 cr from Wadia institute

A complaint was on Thursday registered by M M Andar,secretary of the Modern Education Society (MES) which runs a number of institutes on campus,including the famous Wadia College,where Neville Wadia institute is located. As per the complaint,Mehejabin Varimani,a clerk with the institute,allegedly swindled Rs 3.77 crore by writing lower amounts on counterfoils in receipts or not making a carbon copy of the receipt or not giving any receipt at all.

Speaking to this paper,Andar said,“The incident came to light sometime in mid-2009 when two of our students came to the institute office complaining that they were not given any receipt for the money they had paid for the prospectus. After the accountant started probing the matter,the name of the clerk cropped up. One day,she called up the institute and asked for a vehicle as she wanted to bring some cash from her house. She then brought cash of Rs 43 lakh,which was deposited in the bank account of the institute…”

In September 2009,the matter was referred to the then director of the institute,S R Dastane. Andar said,“Dastane initiated a separate inquiry during which she kept saying she did not have receipt books. The director then asked a reputed chartered accountant in the city for a forensic audit.” An eight-month-long audit revealed that the institute had received just Rs 1.31 crore from 4,744 students in the form of various fees instead of over Rs 5 crore,collectively putting the fraud at Rs 3.77 crore.

Suhas Nadgauda,senior police inspector,Bundgareden police,said,“The complainant has approached us with just one name. Our investigation is on. The case will be investigated by the Economic Offences Wing of Pune police and by us.” Varimani is yet to be arrested. Another police officer said,“Some more names are expected to come to fore. One person alone cannot be behind this all.”