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New Draft Rules For Companies

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September 12: The government has released the first set of draft rules for companies and the list of mandatory requirements from the auditor has grown to include disclosure on the company’s litigation and derivative exposure. However, it is the retrospective implementation of the auditor rotation clause that has companies worried. Deloitte India’s P.R. Ramesh and Grant Thornton India’s Vishesh Chandiok say the rule has operational problems.