The former director of International Consulting Group Pty Ltd (ICG), Dr Anula Daui Kumari Kauye, was ordered to stand trial after being charged by the Australian Securities and Investments Commission (ASIC) on fraud.

Dr Kauye, 57, of Toorak, faces 64 counts of trading while insolvent under the Corporations Act, 18 counts of theft under the Victorian Crimes Act, and one count of providing false information in an affidavit to the Victorian Supreme Court.

ASIC alleges Dr Kauye allowed ICG to trade while insolvent between 25 July 2003 and 1 October 2004. ASIC specifically alleges that while ICG was insolvent Dr Kauye incurred debts to contractors and retail providers of approximately $160,000 and misappropriated approximately $1.5 million from US based companies.

This matter was initiated as a result of ASIC's investigations and facilitated by funding from the Assetless Administration Fund.

Dr Kauye posted bail for his temporary liberty. He was ordered to appear on 26 July 2010 before the the Melbourne Magistrates' Court. The trial date at the Melbourne County Court is yet to be determined.