Apex industry chamber FICCI has criticised government decision to bring private telcos under CAG audit scrutiny saying that it will raise questions on sanctity of Indian contracts. Following is the FICCI statement:

"We have no comment to make on the judgment of the Hon'ble Supreme Court. However, the episode raises serious questions on the sanctity of Indian contracts. If an external audit is part of the contract it is automatically applicable. Whatever is incorporated ab-initio in the contract, the parties must live with it. Subsequent judicial challenge and interpretation creates the possibility of much wider ramifications especially as the government has extensive revenue engagement at all levels of commerce. The application of this pronouncement may get extended to areas that may not have been intended under the subject decision of the Hon'ble Supreme Court", said Mr. Sidharth Birla, President, FICCI.