Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
1-min read

Deloitte Quits as Auditor of Crisis-hit DHFL: Report

There have been reports that Deloitte Haskins & Sells and the company's second auditor, Chaturvedi & Shah, may quit due to unsatisfactory responses from the company to their queries related to fund deployment.

PTI

Updated:August 4, 2019, 10:51 PM IST
facebookTwitterskypewhatsapp
Deloitte Quits as Auditor of Crisis-hit DHFL: Report
A file photo of the Deloitte logo outside the company's office in Gurugram, Haryana. (Reuters)
Loading...

New Delhi: Deloitte has quit as the auditor of cash-strapped DHFL, sources said on Sunday.

Communication regarding Deloitte quitting as DHFL's auditor has been sent to the Ministry of Corporate Affairs, one of the sources said.

Another source confirmed that Deloitte has quit, but without citing any reasons.

However, sources in DHFL denied to have received any such communication from Deloitte.

There have been reports that Deloitte Haskins & Sells and the company's second auditor, Chaturvedi & Shah, may quit due to unsatisfactory responses from the company to their queries related to fund deployment.

Cash-strapped DHFL sits on a debt pile of Rs 90,000 crore and has defaulted on its various repayment obligations in a serial manner in the recent past.

Earlier, DHFL had said that the company was working with its lenders to work out a debt resolution plan by July-end.

However, company sources said it is yet to be finalised and likely to be chalked out in the coming week.

DHFL has been trying to generate funds through various means and has exited from its subsidiary units to tide over the current financial crunch.

The company in mid-July posted its biggest-ever quarterly loss of Rs 2,224 crore for the quarter ended March of 2018-19 fiscal. The financial results were delayed due to the ongoing concerns.

The company is yet to announce the first quarter results of the current financial year.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Indiabulls Hsg 550.75 -0.11
HDFC 2,100.00 -0.84
Reliance 1,278.00 -0.80
Yes Bank 79.45 3.79
HDFC Bank 2,227.70 -0.08
Company Price Change %Gain
SBI 290.95 0.38
Indiabulls Hsg 551.10 -0.04
Yes Bank 79.45 3.79
Maruti Suzuki 5,975.15 2.74
SpiceJet 143.50 3.02
Top Gainers
Company Price Change %Gain
UPL 549.05 4.14
Yes Bank 79.45 3.79
Power Grid Corp 211.15 2.92
Maruti Suzuki 5,975.05 2.73
IndusInd Bank 1,439.10 2.73
Company Price Change %Gain
Yes Bank 79.45 3.79
Power Grid Corp 211.25 2.85
Maruti Suzuki 5,975.15 2.74
IndusInd Bank 1,438.25 2.70
Axis Bank 675.55 1.86
Top Losers
Company Price Change %Gain
TCS 2,165.10 -1.78
Vedanta 144.40 -1.47
HCL Tech 1,062.75 -1.25
BPCL 351.20 -0.92
HDFC 2,100.00 -0.84
Company Price Change %Gain
TCS 2,163.50 -1.87
Vedanta 144.30 -1.54
HCL Tech 1,061.65 -1.37
HDFC 2,098.75 -0.91
Reliance 1,277.40 -0.85

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results