Certain decisions in the now cancelled Rs 100 crore land deal, which caused major embarrassment to Institute of Chartered Accountants of India (ICAI), indicate a clear tilt towards a single vendor. TOI has a copy of the fact finding committee's report, which has an annexure of answers by the ICAI president's office to questions raised by it.

Chartered accountant Jaideep Shah of Nagpur, who drew flak for the deal inked while he was ICAI president, retired from the post on Tuesday after his tenure ended. However, submissions before the fact finding committee investigating the affair show no other bidder was apprised about the opening of tenders. The procedure regarding tenders was laid down by Shah, who also controlled the entire process.

Shah had aggressively pushed for the deal to buy 9 acre land with 2.5 lakh square feet built up area from Luxora Infrastructure Developers in a township at Pipla on the city's outskirts. Paying nearly Rs 100 crore for a remote property, not even within municipal limits, had led to an outcry.

The fact finding committee had sent a questionnaire to the president's office. The answers raise questions about Shah's decision. For example, when asked if a notice of opening the tenders was given to all bidders, the reply was "no, as per the president's decision". When the committee if the procedure regarding tenders was as generally applicable to public institutions, the reply was that the procedure laid down by finance committee and directions by Shah were followed.

In fact, after floating advertisement seeking offers, a decision was taken that only non-agriculture land would be considered. This left only Luxora in contention.

Yet another reply says that other than Luxora none of the properties offered by other bidders were inspected by Shah and his team. However, one of the bidders, Shrikant Ghongade, was sent an e-mail for a site visit, but his site too was not visited. The president's office said Ghongade did not pick up the phone when the president tried to call him.

However, Ghongade had earlier told TOI that he had received a message from ICAI that his offer had been shortlisted, and was told that a team would visit his site soon. When he followed up with ICAI officials at Delhi, they kept assuring him that they would visit his site. Ghongade had offered two parcels of five and seven acres for Rs 2.5 crore and Rs 9.14 crore respectively.

Shah also had a major role in supervising the entire process, says a reply to the fact finding committee's questionnaire.

A chartered accountant from Chennai had filed a case in Madras high court against this deal. Hearings on the matter have not begun yet. This case was independent of the fact finding committee set up by ICAI.

"Ideally, the entire central council, which is the governing body, should have been taken into confidence. The president's role is to chair the meetings, and not take one-sided decisions. Even in public limited companies no major decision can be taken without being referred to the board," said a chartered accountant from the region on condition of anonymity.

IMPROPRIETY IN PROPERTY

ICAI former president Jaideep Shah refused to send notice of opening tenders to all bidders

Shah issued directions on all procedures regarding tenders

He also prescribed the process himself

No other bidders or properties were visited by Shah's team

Rule excluding agricultural land from the offer favoured Luxora