Method in the madness

The list of companies sent by the RBI for bankruptcy resolution shows their auditors do not belong to the big four, or even the big six

In the list of about 40 companies sent by the Reserve Bank of India for bankruptcy resolution there is a curious pattern. The auditors of these companies do not include any one from the big four, or even stretching it more, the big six. 

The omission remains glaring even when one stretches the list back by another couple of years. This is clearly not happenstance. These companies were under financial distress for several years. Their leverage rose sharply over the period. These are major corporate citizens and the pressure on their balance sheets had the potential to destabilise their lenders too,