STOCK MARKET BSE NSE

DHFL auditors seek more information on financials

The Audit Committee has directed the management to place the audited Ind AS standalone and consolidated financial results on or before July 22, 2019.

Published: 15th July 2019 09:30 PM  |   Last Updated: 16th July 2019 01:03 AM   |  A+A-

Dewan Housing Finance Corporation Ltd

DHFL logo

By PTI

NEW DELHI: Auditors of crisis-hit DHFL have sought more information from the company's management, according to sources. On Saturday, the housing finance company reported a loss of Rs 2,224 crore for the quarter ended March 31.

The firm had a profit of Rs 134.35 crore in the year-ago period. The sources said auditors have sought additional information on the company's financials under Section 143 of the Companies Act, 2013.

Section 143 pertains to powers and duties of auditors and auditing standards. Deloitte Haskins and Chaturvedi & Shah are the auditors of the company. When contacted, a Deloitte India spokesperson said, "We do not comment on market speculation".

Chaturvedi & Shah could not be immediately contacted. "The Audit Committee has directed the management to place the audited Ind AS standalone and consolidated financial results on or before July 22, 2019," the company said in a filing on Saturday.

As per the filing, the "unreviewed and unaudited Ind AS standalone financial results" were placed before the Audit Committee and Board of Directors on July 13.

The Ind AS standalone and consolidated financial statements are under compilation from which the Ind AS standalone and consolidated financial results have been prepared, it added. On Monday, DHFL said it is working with stakeholders and creditors to ensure resolution of liquidity issues, without any haircut to the lenders. Shares of the company plunged nearly 30 per cent.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp