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Reliance Capital calls auditor's observations baseless and unjustified

In a letter to Reliance Capital, PwC said it felt compelled to withdraw from the audit of the company's fiscal year 2018/19 accounts after not receiving "satisfactory response" to its queries on certain observations in its assessment, Reliance Capital said in a statement

twitter-logo Reuters   Bengaluru     Last Updated: June 13, 2019  | 12:44 IST
Reliance Capital calls auditor's observations baseless and unjustified

Reliance Capital Ltd said on Thursday the observations of PricewaterhouseCoopers (PwC) about its fiscal accounts were "completely baseless and unjustified", a day after the auditor withdrew from assessing the shadow bank's fiscal year 2018/19 accounts.

In a letter to Reliance Capital, PwC said it felt compelled to withdraw from the audit of the company's fiscal year 2018/19 accounts after not receiving "satisfactory response" to its queries on certain observations in its assessment, Reliance Capital said in a statement on Wednesday.

Also read: Reliance Capital share price trading lower for second session after PwC resigns as auditor of Reliance Group firms

Also read: Reliance Capital exercises 'green-shoe' option to sell 8% stake in RNAM for Rs 1,100 crore

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