June 13, 2019 / 4:36 AM / a month ago

India's Reliance Capital calls auditor's observations 'baseless and unjustified'

BENGALURU, June 13 (Reuters) - Reliance Capital Ltd said on Thursday the observations of PricewaterhouseCoopers (PwC) about its fiscal accounts were “completely baseless and unjustified”, a day after the auditor withdrew from assessing the shadow bank’s fiscal year 2018/19 accounts.

In a letter to Reliance Capital, PwC said it felt compelled to withdraw from the audit of the company’s fiscal year 2018/19 accounts after not receiving “satisfactory response” to its queries on certain observations in its assessment, Reliance Capital said in a statement on Wednesday. (Reporting by Derek Francis in Bengaluru; Editing by Subhranshu Sahu)

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