The ADAG company in an exchange release said the observations of the auditor were "baseless and unjustified", further accusing PWC of acting "prematurely" without statutory discussions with the Audit Committee of the company.
Moneycontrol News
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Shares of dropped as much as 5 percent intraday on June 13 after former auditor Price Waterhouse & Co (PWC) alleged irregularities in the books of accounts of the company.
The ADAG company in an exchange release said the observations of the auditor were "baseless and unjustified", further accusing PWC of acting "prematurely" without statutory discussions with the Audit Committee of the company.
PWC, which resigned as the auditor of Reliance Cap on June 12, alleged diversion of funds and transactions between Reliance Cap, Reliance Home Finance and other ADAG group companies.
First Published on Jun 13, 2019 11:27 am
