Manpasand Beverages shares down 20% on auditor's resignation

Investors get jittery after firm offers no reason for Deloitte's departure, and defers results board meet as well

Shares of Manpasand Beverages slumped, hitting their 20 per cent daily limit on Monday, following surprise resignation of auditor Deloitte Haskins & Sells.
 
The Gujarat-based fruit juice manufacturer on Sunday announced that Deloitte had resigned and it has named Mehra Goel & Co. as its replacement.
 
The company didn’t give a reason for the resignation. Manpasand also postponed the board meeting, scheduled for May 23, to announce its financial results.
 
“We are bound by confidentiality obligations and are unable to comment on client-specific matters,” said Deloitee India in a statement.
 
However, in a letter written by