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  "documentTitle": "Intelligent Systems Corp (INS)",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-05-30 00:00:00",
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  "notes": "The slide uses a specific regulatory document to build a case for potential fraud or siphoning of funds through a web of interrelated parties.",
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      "text": "The opportunity to round-trip cash back to INS, or even to siphon off cash for themselves, becomes very pronounced.",
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      "text": "This is a huge internal control issue, allowing employees to use company email addresses to start three other companies. In combination with what we saw before, with both Neeti and Gondani working at New Vision, and New Vision transacting with Flexopt, this starts to paint the picture of a broad web of interrelated parties transacting together without adequate disclosure. The opportunity to round-trip cash back to INS, or even to siphon off cash for themselves, becomes very pronounced.",
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      "text": "Further, all of these interrelated Indian companies are audited by the same auditor and audit partner: S.L. Chhajed & Co. with audit partner Abhay Chhajed. Below is a chart of the relationships between all of the above companies and persons.",
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      "text": "It seems like 'Ibattu' is present at New Vision as well. Recall that Anupam's wife, Neeti Pathak, is a director at New Vision, and New Vision has both sold and bought from INS' undisclosed related party investee, Flexopt.",
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      "text": "Source: New Vision Form ADT-1 filed with the Indian Ministry of Corporate Affairs",
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