Financial Technologies (India) has tanked nearly 15% to Rs 142 in early morning trades on NSE after the company said that its statutory auditor Deloitte, Haskins & Sells has withdrawn its certificates about the genuineness of the company's results for 2012-13 which the firm had audited and cleared earlier.
Deloitte Haskins & Sells, the auditor of Financial Technologies has said the company’s results for the year ended March should no longer be relied upon due to the crisis at group company National Spot Exchange Ltd (NSEL).
As a result, the company was deferring the passing of three items which include audited results for 2012-13, dividends, and re-appointment of Deloitte Haskins & Sells as chartered accountant from its 25th annual general meeting on Wednesday, Financial Technologies said in a release to stock exchanges on Tuesday.
At 0917 hours, the stock was trading at Rs 153, recovering about 8% from intra-day’s low. A combined around 380,000 shares change hands on the counter so far on NSE and BSE.
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Deloitte Haskins & Sells, the auditor of Financial Technologies has said the company’s results for the year ended March should no longer be relied upon due to the crisis at group company National Spot Exchange Ltd (NSEL).
As a result, the company was deferring the passing of three items which include audited results for 2012-13, dividends, and re-appointment of Deloitte Haskins & Sells as chartered accountant from its 25th annual general meeting on Wednesday, Financial Technologies said in a release to stock exchanges on Tuesday.
At 0917 hours, the stock was trading at Rs 153, recovering about 8% from intra-day’s low. A combined around 380,000 shares change hands on the counter so far on NSE and BSE.
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