Financial Mismanagement & Corruption at ASSOCHAM: Employees Urge Govt Actions for the Sake of Country
GG News Bureau
New Delhi, 13th Jan. The Associated Chambers of Commerce and Industry of India (ASSOCHAM), one of India’s oldest and most prestigious industry chambers, is facing serious allegations of financial misconduct, corruption, and mismanagement of government & other funds. The accusations, brought forward by several employees, target Deepak Sood, the former Secretary General, and other close associates within the organization. These individuals are accused of misappropriating funds meant for corporate social responsibility (CSR) and other vital chamber activities, enriching themselves at the cost of the organization’s integrity.
For misappropriation & misusing the funds concern agnecies & departments of Government of India has raised great concern and asked clarifications from all ASSOCHAM authorities ,but still the questions of those allegations by the government authorotoes are unanswered.

Many employees of ASSOCHAM have written letters to Prime Minister of India ,Home Minister, Commerce & Insustry, Finance Minister, Minister of Road & Transport, Minister for Heavy Industries,Union Ministers of states of corporate affairs & commerce & Industry , CBI, Chief Vigilance Commissiner & Director,ED & all. All have been waiting for justice to save more than 100 years Institution of ASSOCHAM.
ASSOCHAM, which has long served as an apex body for the country’s business community, is alleged to have been misused by senior figures for personal gain. According to reports, funds collected from corporates such as Reckitt Benckiser, ITC, VOLVO, and Accenture, among others, totaling approximately Rs. 15-20 crores annually, were siphoned off for personal use by Sood, Jain, and other close associates. The money, which should have been utilized for national welfare programs, was allegedly diverted to inflate invoices and carry out unregulated procurements that benefited these individuals.
The accusations surfaced after an internal complaint was filed by ASSOCHAM employee Dheeraj Pandey on October 27, 2024. The complaint, addressed to the President of ASSOCHAM, Sanjay Nayar,detailed the misuse of power and embezzlement of funds by Deepak Sood, Pooja Ahluwalia, Nahid Alam, Harish Sharma, and several others. However, despite the serious nature of the complaint, the President has reportedly remained silent, and no significant action has been taken to address these concerns. It has been alleged that Sanjay Nayar’s failure to act is rooted in the quid pro quo relationship between him and Deepak Sood, who allegedly played a key role in getting Nayar elected as President.
This silence is compounded by further accusations that significant documents, including vital records of bank transactions and CCTV footage, were deliberately destroyed under the pretext of a fire at ASSOCHAM’s office. This destruction of evidence raises major doubts about the transparency and integrity of the organization’s leadership. According to insiders, Deepak Sood and his associates were given ample time to alter and dispose of key documents before the management could take any action, which further deepens the suspicion surrounding the case.
The Ministry of Commerce & Industry had already raised concerns about ASSOCHAM’s financial mal-practices in January 2023 when a reminder notice was issued to the chamber for submitting crucial documents. However, ASSOCHAM’s leadership, including Sood and his associates, reportedly informed the Ministry that these documents had been destroyed due to the fire. This raises questions about the veracity of their claims and the role of ASSOCHAM’s leadership in facilitating this cover-up.the fire in the ofiices have raised many eyebrows & created suspicions on all related os called beneficiaries.
Moreover, it is alleged that key figures within ASSOCHAM, including Harish Sharma and Kaushal Gupta, were given unchecked authority over decision-making processes, thereby enabling them to perpetuate the financial malpractices. These individuals are accused of using their positions to intimidate employees who spoke out about the mismanagement.
The audit committee, led by Preeti Malhotra, who is also the Chairman of the Audit & Finance Committee, is accused of failing to carry out proper oversight. The committee, which should have been responsible for ensuring financial transparency, is instead alleged to have been complicit in the ongoing misconduct. Notably, despite her position, Preeti Malhotra is accused of only seeking confirmation from Harish Sharma, one of the main accused, on whether the chamber’s finances were in order, thus failing to hold anyone accountable.

Another point of concern raised by the aggrieved employees is the role of Hitender Mehta, Managing Partner at Centrum Legal, who also serves as a member of the Audit & Finance Committee and the Managing Committee of ASSOCHAM. His low annual membership fees and lack of significant contributions to the chamber over the past five years raise questions about his involvement in the ongoing scandal. Mehta is believed to be benefiting from his positions in the chamber, with reports suggesting that he may be linked to the corrupt practices of Deepak Sood and his associates.
The growing dissatisfaction among ASSOCHAM members and employees is compounded by the fact that Deepak Sood’s resignation, under a cloud of corruption charges, has done little to address the fundamental issues plaguing the organization. Many employees and industry members are questioning why Sood, despite his resignation, continues to interfere in ASSOCHAM’s operations, particularly by allocating profit-making departments to Pooja Ahluwalia, his close associate, in an attempt to disguise her lack of meaningful contribution.
The complaint further highlights that the current leadership of ASSOCHAM, under President Sanjay Nayar, has failed to act on multiple violations of the chamber’s constitution and by-laws, including the retention of Audit Committee members who should have been replaced in accordance with the chamber’s Articles. The committee’s failure to address the 33% decline in surplus during the financial year 2023-24, despite an 81% increase in the topline, has raised serious concerns about the lack of accountability within ASSOCHAM’s management.
The aggrieved employees have called for a thorough forensic audit of ASSOCHAM’s financial records and an independent investigation into the misuse of public funds, especially given that the chamber receives government grants. The complaint also urges the government to intervene to prevent further damage to ASSOCHAM’s reputation and ensure that those responsible for mismanaging funds are held accountable.
The employees also ask that the case be handed over to the Central Bureau of Investigation (CBI) for a comprehensive inquiry into the misappropriation of funds. They contend that the cases involve the misuse of government grants and the diversion of public funds, and must be treated as such by the authorities.
For this all facts ,Global Governance News group (GGN group) called Mr Deepak Sood, Former Secretary General of ASSOCHAM at his cell no 9901455777 for his opinion/views on this news & facts but after knowing the issues he disconnected the phone intentionally. After that GGN group called Mr Deepak Sood many times, but he did not pick the call. We had also sent text messages at his number, but all were in vain.
In conclusion, the employees’ complaint is not an anonymous letter but a desperate plea to save one of the country’s oldest and most respected industry chambers. The evidence provided can be substantiated with hard facts, and the identities of the aggrieved employees have been withheld to protect their jobs and safeguard them from retaliation. The employees and industry members are closely watching the developments, and they hope the government, opposition leaders, and media will take swift action to cleanse the chamber of the corruption that has plagued it for the past few years.
Comments are closed.