TIL Desk/Business/New Delhi/ Anil Ambani-led Reliance Capital Thursday said its erstwhile statutory auditor Price Waterhouse & Co Chartered Accountants’ observations about its accounts were “completely baseless and unjustified”.
On Wednesday, Reliance Capital and Reliance Home Finance said that Price Waterhouse & Co Chartered Accountants (PWC) had resigned as auditor of both the companies citing unsatisfactory response to “certain observations” made by it as a part of the ongoing audit for fiscal 2018-19.
“PWC’s observations are completely baseless and unjustified. PWC has acted prematurely without even statutory discussions with the audit committee,” Reliance Capital said in a regulatory filing.
Reliance Capital said its continuing auditor Pathak H.D. & Associates has been mandated by the audit committee to submit its independent report on PWC’s observations within 15 days.
