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Sachin's appeal rejected
By Our Special Correspondent
MUMBAI,
JUNE 8
. The Institute of Chartered Accountants of India (ICAI), in an amendment today rejected Sachin Tendulkar's appeal against his former chartered accountant Madhav Bhatkhande, seeking recovery of professional fees. The dispute pertains to a Rs. 16 lakh arrears, out of a bill for Rs. 42 lakhs put up by Mr. Bhatkhande for managing Tendular's accounts and advising on taxation since 1989.
Tendulkar refused to pay the "outstanding" amount, alleging that the fees were exorbitant. Mr. Bhatkhande, who had reportedly borrowed Rs. 26 lakhs from Mr. Tendulkar in 1996 and did not return the amount, instead sent a bill for Rs. 42 lakhs bill as fees due. He then moved Bombay High Court for recovery of the dues. Mr. Tendulkar in turn filed a complaint with the ICAI. The hearing before a five-member committee of the Institute was held in April 2003, following which a copy of the order was delivered to the cricketer on Tuesday.
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