Reliance Capital dips 7% in early trade as statutory auditor PwC resigns

PwC stated that it noted certain observations/transactions which in its assessment, if not resolved satisfactorily, might be significant or material to the financial statements of the company.

Shares of Reliance Capital dipped 7 per cent to Rs 87.55 on the BSE in the early morning trade on Wednesday after the company’s statutory auditor Price Waterhouse & Co Chartered Accountants LLP (PwC) resigned with effect from June 11, 2019.

PwC stated that as part of the ongoing audit for FY18-19, it noted certain observations/transactions which in its assessment, if not resolved satisfactorily, might be significant or material to the financial statements, and that it did not receive satisfactory response to its queries. CLICK HERE TO READ THE PRESS RELEASE

The board of directors of Reliance