https://www.taxtmi.com/caselaws?id=215031 Discontinuance of a statutorily appointed auditor based on allegations of delay, lack of professionalism, or adverse conduct is stigmatic where it affects reputation and goodwill. In that situation, the Reserve Bank of India must act fairly and reasonably and give the affected auditor a meaningful opportunity to respond before acting on the allegations. The text notes that acting on the bank's adverse letter without supplying it to the auditor for comment violates the principles of natural justice and renders the discontinuance unsustainable. The matter also indicates that future consideration for appointment remains subject to the applicable norms. en-us Mon, 10 Oct 2011 00:00:00 +0530 Fri, 08 Feb 2013 16:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215031 Discontinuance of a statutorily appointed auditor based on allegations of delay, lack of professionalism, or adverse conduct is stigmatic where it affects reputation and goodwill. In that situation, the Reserve Bank of India must act fairly and reasonably and give the affected auditor a meaningful opportunity to respond before acting on the allegations. The text notes that acting on the bank's adverse letter without supplying it to the auditor for comment violates the principles of natural justice and renders the discontinuance unsustainable. The matter also indicates that future consideration for appointment remains subject to the applicable norms. Case-Laws Indian Laws Mon, 10 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215031