Manpasand Beverages shares crash 20% after company cancels board meet on Deloitte’s resignation as auditor
Tuesday, May 29, 2018 IST
Shares of Gujarat-based fruit juice maker Manpasand Beverages crashed 20% in the early deals on Monday after the company cancelled its board meeting scheduled on 30 May 2018 on Deloitte's resignation as statutory auditor of the firm.
Shares of Gujarat-based fruit juice maker Manpasand Beverages crashed 20% in the early deals on Monday after the company cancelled its board meeting scheduled on 30 May 2018 on Deloitte’s resignation as statutory auditor of the firm. In lieu of Deloitte, Manpasand Beverages has appointed Mehra Goel & Company as the statutory auditor of the company. Shares of Manpasand Beverages slumped 20% to 52-week low levels and were locked in the lower circuit since Monday morning.
“Subsequent to resignation of M/s. Deloitte Haskins & Sells, Chartered Accountants, Vadodara, (FRN:- 117364W) the statutory auditors of the company with effect from May 26, 2018, the board of directors of the company upon the recommendation of the audit committee, have appointed M/s. Mehra Goel & Co., Chartered Accountants, New Delhi, (FRN:- 000517N) as statutory auditor of the company with effect from 27th May 2018 to fill the casual vacancy in the office of statutory auditors, who shall hold office as such till the conclusion of the ensuring annual general meeting, subject to the approval of the members of the company,” Manpasand Beverages said in an exchange filing.
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