Deloitte has quit as the auditor of Dewan Housing Finance Corp Ltd (DHFL), one of India’s biggest housing finance company, sources said.
The Ministry of Corporate Affairs have been informed about Deloitte quitting as a DHFL’s auditor, sources told PTI.
However, this development has been denied by the sources in DHFL.
Due to unsatisfactory responses from the company to the queries related to funding deployment, there have been reports that Deloitte Haskins & Sells and the company’s second auditor, Chaturvedi & Shah, may quit.
DHFL currently has a debt of over Rs 90,000 crore and has defaulted on its various repayment obligations in a serial manner in the recent past.
DHFL had earlier said that the company is working on with the lenders to work out the debt resolution plan by the month of July-end/
But now the company has said that it is yet to finalise it in the coming week.
In mid-July the company had announced its biggest-ever quarterly loss of Rs 2,224 crore for the quarter ended March of 2018-19 fiscal.
DHFL has till now not announced the first quarter results of the current financial year.