CA takes RBI to court over bank auditor selection.

Economic Times (New Delhi, India), March, 2006

Mar. 31--MUMBAI, India -- A chartered accountant has sued the Reserve Bank of India (RBI) over selection of bank auditors, who he claims have been picked in an arbitrary and unfair screening process. Tarun Ghia has sought details of CA firms selected for statutory and branch audits in '05-06 and '06-07.

He wants the RBI to explain the basis of their selection, saying he himself was not told about the norms. Mr Ghia, whose firm was one of those which could not get the assignment, filed the petition in the Bombay High Court on March 16. He said the way the RBI chose auditors left many CA firms upset.

Mr Ghia has sought information on those who made it and those who did not, under the Right to Information Act. He also wants the central bank to spell out...

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