Former cricketer and TV commentator Ravi Shastri will testify as a witness on behalf of Sachin Tendulkar before the five-member disciplinary committee of the Institute of Chartered Accountants of India (ICAI) regarding the latter’s ongoing Rs 15.5 lakh financial dispute with his former chartered accountants, MSB & Co.
Tendulkar had deposed before the committee with his brother Ajit at ICAI’s Cuffe Parade office on April 3. They had filed a complaint accusing MSB & Co partner Madhav Bhatkhande of ‘‘unprofessional conduct’’ and overcharging.
Tendulkar’s lawyer Harish Jagtiani said: ‘‘Ravi Shastri will appear as a witness in the case. He was listed as a witness for the April 3 hearing but he could not be present due to commitments in Dubai. The date for the next hearing has not been finalised yet, but we expect it to be by April end.’’
Shastri’s deposition is considered significant as he enjoyed a close association with both Tendulkar and WorldTel boss Mark Mascarenhas. Shastri introduced the two and played a key role in signing of the WorldTel deal.
The dispute began when MSB & Co charged Tendulkar with Rs 42.5 lakh for its services. The firm filed a civil suit before the Bombay High Court in which it claimed that Tendulkar had paid an ‘‘advance’’ of Rs 27 lakh but had not not paid the rest of the amount.
Following a HC summon in August 1999, Tendulkars filed a complaint before ICAI. Tendulkar stated that Rs 27 lakh was not paid as an ‘‘advance’’ but as a ‘‘loan’’ to tide over the firm’s financial crisis. He said the firm had worked for only three months on the WorldTel deal and most of the work was done by MSB solicitor Shirolkar. Shirolkar was paid Rs 1.5 lakh separately, he claimed.