Price Waterhouse & Co Chartered Accountants LLP has resigned as the auditor of Eveready Industries citing reservations on certain inter-group transactions that promoter group made during FY19, the latter said in an exchange filing on June 29.
PwC had enquired about these transactions that the company had made, according to the auditor's report attached with the March quarter's finacial result. Eveready did not provide "sufficient audit evidence" regarding the possible loss/impairment due to those transactions.
The transactions were in tune of Rs 60 crore. Resultantly, PwC had also refused to give an opinion on the financial statement.
Mumbai-based Singhi & Co has replaced the PwC as auditor of the company, Eveready said in the release.
Eveready shared closed on June 28 at Rs 80.00 down Rs 3 or 3.61 percent on the BSE.