DHFL shares tank 10% amid reports of Deloitte quitting as auditor of cash-strapped company

  • During the day, DHFL shares plunged 12.43 percent to Rs 40.85, its 52-week low

  • Deloitte has quit as the auditor of cash-strapped DHFL

  • 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

New Delhi: Shares of Dewan Housing Finance Corporation Ltd on Monday tanked 10 percent following reports that Deloitte has quit as the auditor of cash-strapped DHFL.

The company's scrip tumbled 10.08 percent to close at Rs 41.95 on the BSE. During the day, it plunged 12.43 percent to Rs 40.85, its 52-week low.

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

 DHFL shares tank 10% amid reports of Deloitte quitting as auditor of cash-strapped company

Representational image. Reuters.

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.

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Updated Date: Aug 05, 2019 17:52:17 IST