Statement Given by Parul Jain to Nishith Desai Associates

  1. I never worked on any IL&FS matter in BMR or Deloitte.
  2. It seems that the allegation is also with respect to my having being asked to leave Deloitte abruptly due to having been found “indulging in unethical practices” and as a “cover up” due to leakage of certain information to investigation authorities and to media. In this context, I have served a three month notice period at Deloitte. In particular, I also had exit discussions with Mr Vipul Javeri, Head of Tax, Deloitte and Mr. Venkat, CEO and Managing Partner of Deloitte. Further, I have never been summoned by any investigation authority on any matter, leave aside the IL&FS issue.
  3. There is also an allegation that I had been forced to leave Deloitte after a whistleblower had blown a whistle on Deloitte’s internal ethics reporting system. I understand that a letter with similar allegations has been received by Deloitte now, much after I have left Deloitte.
  4. I would also like to mention that Deloitte has not contacted me with respect to any such allegations.
  5. I have never transferred any NDA data to either BMR or Deloitte or to any client or to any other person, or used it in any manner whatsoever.
  1. Yes, possibly IL&FS was not a client of Parul Jain. I never alleged that to be the case. In my ethics concern I had alleged that Parul Jain and Shefali Goradia had several clients who were either investors in IL&FS or beneficiaries of the loans that were extended bypassing the proper procedure. This is a matter of record, the evidence for which was part of my ethics concern. Thus this statement is to merely dodge the core allegation.
  2. If this is true then Deloitte India’s ethics team has just been playing games with me. My ethics concern was raised in the beginning of August 2019 and Parul Jain stopped coming to work in early November 2019, i.e. within 3 months of my raising the ethics concern. Did she resign before my ethics concern was raised? If yes then why did Deloitte send her as its representative to the IFA London conference in September? Why was her resignation never announced or she given a proper farewell? Most importantly, why did Deloitte’s ethics team even pretend to investigate my concern and why did it insist on connecting with my source?
  3. I raised my ethics concern in August which is three months prior to her ‘exit’. I don’t know which letter was received by Deloitte much after her departure. This is a patently false statement.
  4. This contradicts statement 3. If Deloitte never contacted her then how did she come to know about this fictitious letter? I find it difficult to believe that Deloitte never asked her to provide explanation to my ethics concern before her exit.
  5. That is the biggest lie of them all. If she never used the data then why did she steal such humongous amount of data from NDA in the first place. Not to mention that she had herself admitted using this data and sharing it with Shefali Goradia in order to poach clients.

Main Story:

How I was screwed by Deloitte India’s Ethics Team

Links:

A detailed and authentic version of this Parul Jain Nishith Desai Associates Saga is on the wordpress blog The Fall of Nishith Desai which is best read from bottom to top. There is also a medium version of this at https://nishith-desai.medium.com/the-fall-of-nishith-desai-36b82d2b4793

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CA AA

CA AA

An ex partner in tax practice at a Big 4. Worked at 3 out of the Big 4s but quit (read ‘fired’) after an epiphany. Now an independent & ethical tax consultant.