PWC resigns as statutory auditor of Reliance Capital, Reliance Home Finance

While the board of directors of Reliance Capital has accepted the resignation, Reliance Home Finance said its audit committee and board would meet on Thursday and decide upon a new statutory auditor

Anil Ambani-led Reliance Capital and Reliance Home Finance Wednesday said Price Waterhouse & Co Chartered Accountants (PWC) has resigned as statutory auditor of both the companies.

PWC has put in its resignation, with effect from June 11, 2019, citing unsatisfactory response to "certain observations" made by it as a part of the ongoing audit for fiscal 2018-19, the two companies said in their respective regulatory filings to stock exchanges.

Both Reliance Capital and Reliance Home Finance said they do "not agree with the reasons given by PWC".

While the board of directors of Reliance Capital has noted and accepted the resignation, Reliance Home