PWC

The police probe follows "a review of allegations published in The Mill, and subsequent PwC report commissioned by the university's Fraud Response Panel," the force spokesman added.

A statement by the university on Tuesday said: "The university was made aware of PwC's findings following its investigation into serious allegations raised in the media and subsequently in Parliament."

A recent survey by consultancy PwC shows some 42% of urban consumers in India's big cities think like Sathe, especially preferring quick delivery for their urgent needs.

The bank suggested Keith take on a non-executive director from business consultants PwC.

However, unbeknown to Keith, PwC was advising Lloyds to sell the business, even though it still belonged to Keith.