Reliance Home Finance, a subsidiary of Anil Ambani-led Reliance Capital, has appointed Dhiraj & Dheeraj as statutory auditors, less than three weeks after Price Waterhouse & Co Chartered Accountants LLP (PwC) resigned from the position.
On June 11, PwC quit saying it did not receive a satisfactory response to its queries as part of the ongoing audit for 2018-19. PwC said Reliance Capital disputed the observations highlighted by it and did not convene an audit committee meeting within the expected time.
Reliance Home Finance said in a statement: "The board of directors at its meeting held today (on Friday) has appointed Dhiraj & Dheeraj as the statutory auditors to hold office in terms of the provisions of Section 139 and other applicable provisions of the Companies Act 2013."
A revised date of a board meeting to consider and approve the audited financial results for the quarter and financial year ended March 31, 2019 will be intimated in due course, it said in regulatory filings.
A similar intimation was done by Reliance Capital which also owns Reliance Commercial Finance Limited.
Dhiraj & Dheeraj is a professional services firm rendering services in the field of accounting, audit, internal audit, forensic audit, tax, regulatory services, statutory compliance, management services, outsourcing and human resource advisory to international and domestic clients.
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