New Company Law: IF CO FAILS TO REPAY DEBT,AUDIT​OR MAY BE ASKED TO REPAY IN CERTAIN CASES :How harsh effect on CA can be nullify?

147 (3) Where an auditor has been convicted under sub-section (2), he shall be liable to—

(i) refund the remuneration received by him to the company; and

(ii) pay for damages to the company, statutory bodies or authorities or to "any other persons"  for loss arising out of incorrect or misleading statements of particulars made in his audit report

"any other persons" MAY BE BANK, CREDITORS, DEBENTURE HOLDERS, SHAREHOLDERS ETC. SO, IF CO FAILS TO REPAY DEBT,AUDITOR MAY BE ASKED TO REPAY DEBT WITH INTEREST ETC IN CERTAIN CASES.

SOLUTIONS: 

We all are thinking that there is no scope to nullify harsh effect of New Company Law on CA. But i think it can be done now:

1) Clause 1(3) empowers C.G. to notify different dates for the applicability of different provisions of the Comanies Act, 2013.
2) Those provisions which are harsh on CA can be notify from say,1/4/2051.
3) In the meantime, AMENDMENTS IN THE RELEVANT SECTIONS can be done.
4) Company Rules can nullify the effect, which are yet to come, if we all collectively comment on the bill to nullify the bad effects on CA . Draft comments and link to comments has aleady been circulated in last email. Kindly check below also:
DRAFT COMMENT BY EVERY CA AND THEIR EVERY CLIENT AND STAFFS AND ARTICLE CLERKS:

1. A CA CAN BE PENALISED OR CONVICTED ONLY IF HIS CONNIVANCE WITH

MANAGEMENT IN FRAUD IS PROVED.

A CA audit on sampling basis. How can he be liable for act of frauds of managements? Why he should pay penalty if income tax authority disallows some expenditure? 

2.

PRIVATE CO. SHOULD BE EXEMPTED FROM THE APPLICABILITY OF PROVISIONS

OF AUDIT OF MAXIMUM OF 20 COMPANIES.

3

. PROVISIONS OF ROTATION OF AUDITORS SHOULD BE APPLICABLE ONLY TO
LISTED COMPANIES, COMPANY HAVING NET-WORTH OF 500 CR. AND ABOVE OR

COMPANY HAVING BORROWING OF 200 CR OR ABOVE
KINDLY GIVE ABOVE COMMENT ON THE FOLLOWING LINK OF MCA - http://14.140.191.91/