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This is an archive article published on May 31, 2003

Xerox scandal report soon: Dhall

Department of Company Affairs on Friday said the independent auditor appointed to examine the Xerox Modicorp bribery scandal is expected to ...

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Department of Company Affairs on Friday said the independent auditor appointed to examine the Xerox Modicorp bribery scandal is expected to submit its report shortly. ‘‘Investigations into the Xerox Modicorp imbroglio are nearing completion. We had outsourced this investigation to an independent auditor, and he is expected to submit his report within a few weeks,’’ DCA secretary Vinod Dhall told PTI. The investigation, which began in August last year, has turned out to be a comprehensive one, he said adding, ‘‘I am told 100-115 witnesses have already been examined as part of the investigation’’.

The probe is being conducted by city-based chartered accountant S.K. Jain and Company, which was mandated under Section 237 of the Companies Act to determine whether the company or its employees committed fraud.

In July last year, Xerox Corporation had disclosed to the securities and exchange commission (SEC) of the United States that officials of its Indian joint venture with the B.K. Modi Group paid bribes to government officials to secure contracts.

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