Rajnikant Chhotabhai Patel, an ICAEW chartered accountant since 1974, has been excluded by ICAEW after certifying jewellery and diamond stock valuations during the audit without carrying out sufficient checks for his client, Diamond Manufacturers Ltd (DML), London.

Diamond Manufacturers Ltd owned diamond jewellery brand Vashi, founded by Vashi Dominguez, with shops in Covent Garden, Birmingham and Manchester, before it collapsed in April 2023 with a total of £170m in debt.

Patel was the statutory auditor and worked at accountancy firm Inger & Company, named as Firm A in the ICAEW disciplinary ruling, and faced a misconduct hearing relating to Diamond Manufacturers Ltd, called B Limited by the disciplinary tribunal.