STATUTORY AUDITOR’S APPOINTMENT – A SHIFT IN PLATE REQUIRED?
“ In dispensation of justice, law does not operate in a vacuum, it draws substance, sustenance from social and operational jurisdiction.” - Justice N. V Ramana, Supreme Court of India INTRODUCTION: Time had been the witness and on the other hand reason as well for the metamorphosis of legislation in the Indian soil but nevertheless the core intent of law had been undisturbed irrespective of the changes. The intention of any law is crystal clear and its locus lies in the interest of its people. The Delhi Bench of State Consumer Disputes Redressal Commission in the case of “Ashok Gupta vs. Indian Airlines Limited (2008)” while interpreting the rule of beneficial legislation postulated that “A law is interpreted and constructed in the manner that which should serve the interests of those for whom it is meant and promote its object. If there are two or more constructions possible, construction which is beneficial and protec...