Cash-strapped DHFL appoints KK Mankeshwar as new statutory auditor

Cash-strapped housing financier DHFL on Monday said it has appointed KK Mankeshwar & Co as its statutory auditor.

The company's move comes after resignation of auditors Deloitte Haskins & Sells and Chaturvedi & Shah this month.

As per a BSE filing, the appointment of the new auditor comes into effect from August 26. The decision was taken at the company's board meeting held on Monday.

The company "on the recommendation of the Audit Committee and subject to the approval of the shareholders of the company, appointed K K Mankeshwar & Co...as the statutory auditors...with effect from August 26, 2019 till the conclusion of ensuing 35th AGM and also from the conclusion of the 35th AGM till the conclusion of the 40th AGM", the filing said.

DHFL said its board also took on record the resignation of Chaturvedi & Shah LLP, in terms of the communication received by the company on August 25.

Reportedly, auditors Deloitte Haskins & Sells and Chaturvedi & Shah quit due to unsatisfactory responses from the company to their queries related to fund deployment during 2018-19.

The company's 35th Annual General Meeting will be held on September 28 in Mumbai.

Stock of DHFL closed 12.02 per cent up at Rs 45.65 on BSE.