FTIL appoints Sharp and Tannan Associates as auditors

Following the exit of Deloitte as auditors in the aftermath of NSEL crisis, FTIL today said it has appointed Sharp and Tannan Associates as its auditors with immediate effect.
The company's board has also appointed V P Mehta & Company as internal auditors of the company.
"...The Board of Directors of the Company has appointed M/s, Sharp & Tannan Associates, as the statutory auditors of the company with immediate effect, subject to the approval of shareholders at the ensuing Annual General Meeting," the company today said in a BSE filing.
On June 10 the company had informed the BSE that Deloitte resigned as its statutory auditors.

In September last year, auditors of the company withdrew their report for the previous financial year against the backdrop of the payments crisis at its unit National Spot Exchange Ltd (NSEL).
FTIL-promoted NSEL is engulfed in a Rs 5,600-crore payment crisis after it suspended trading of forward contracts on July 31.
FTIL has also been declared unfit by the Forward Markets Commission to run an exchange and ordered to pare its stake in Multi Commodity Exchange (MCX) to 2 per cent from 26 per cent at present. FTIL is the in process of divesting its stake.