The curious case of Ricoh India’s balance sheet

A look at the publicly available accounts of Ricoh India Ltd, the company in which auditors have raised questions about accounting inconsistencies, reveals several odd or inconsistent entries.

Consider, for example, a sudden surge in balance of cheques on hand.

The total value of cheques which have not been encashed increased by almost 17 times in a year from Rs.2.17 crore in 2013-14 to Rs.40.43 crore in 2014-15, according to the company’s balance sheet.

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