Enforcing audit raj will further dampen investor sentiment

The Delhi High Court’s ruling allowing the Comptroller and Auditor General of India (CAG) to audit the accounts of private telecom operators has the potential to open a legal can of worms, the ramifications of which could extend to other sectors such as power, airports, oil and gas. In reaching its conclusion, the court has taken Section 16 of the CAG Act as the starting point.

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