"It seems to be that the intent is to address the concern on choice of auditor and where restrictions are imposed by foreign investors. EU banned such restrictions some time ago. India appears to address this in a different but smart way — where choice of auditor is specified by a foreign investor the need to also appoint another joint auditor,"

Vishesh C Chandiok
National Managing Partner, Grant Thornton India LLP

This article appeared in Economic Times on 13th January, 2018.