Stocks

DHFL shares tank 10 per cent amid reports of Deloitte quitting as auditor

PTI New Delhi | Updated on August 05, 2019 Published on August 05, 2019

File photo   -  Reuters

Cash-strapped DHFL sits on a debt pile of Rs 90,000 crore

Shares of Dewan Housing Finance Corporation Ltd (DHFL) on Monday tanked 10 per cent following reports that Deloitte has quit as the company’s auditor.

The company’s scrip tumbled 10.08 per cent to close at Rs 41.95 on the Bombay Stock Exchange (BSE). During the day, it plunged 12.43 per cent to Rs 40.85, its 52-week low.

On the National Stock Exchange (NSE), shares dropped 10.07 per cent to close at Rs 41.95 apiece.

In terms of traded volume, 22.03 lakh shares were traded on the BSE and over 1.97 crore shares on the NSE during the day.

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.

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

Published on August 05, 2019
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