Manpasand Beverages tanks 20% after Deloitte resigns as auditor

Manpasand Beverages is locked in lower circuit of 20% at Rs 345, also its 52-week low on the BSE, after the company announced the resignation of statutory auditor Deloitte Haskins & Sells with effect from May 26, 2018.

The company said the board has appointed Mehra Goel & Co as statutory auditor of the Company with effect from May 27, 2018 to fill the casual vacancy.

Till 09:48 am; a combined 47,401 equity shares changed hands and there were pending sell orders for 578,246 shares on the BSE and NSE.

Manpasand Beverages said that the board meeting scheduled on May 30, 2018 to consider audited financial results and to recommend dividend, if any, has been cancelled, due to sudden resignation of existing auditors.

“We would like to inform you that 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 a BSE filing.

Further to take note that, due to sudden resignation of existing auditors, the business to be transacted at scheduled Board Meeting as intimated to your office on May 23, 2018 has been cancelled and further notice for the same will be sent you in due course of time, it added.