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Manpasand Beverages slips 20% after Deloitte resigns as firm’s auditors
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Mango Sip’s parent company, Manpasand Beverages, lost 20% in trade after the company announced that Deloitte has resigned as their statutory auditors on Saturday. Mehra Goel & co was appointed as their statutory auditors, replacing Deloitte, with effect from May 27. Towards the market close, The firm said the resignation of Deloitte will not have a long-term …
Continue reading “Manpasand Beverages slips 20% after Deloitte resigns as firm’s auditors”
Mango Sip’s parent company, Manpasand Beverages, lost 20% in trade after the company announced that Deloitte has resigned as their statutory auditors on Saturday.
Mehra Goel & co was appointed as their statutory auditors, replacing Deloitte, with effect from May 27.
Towards the market close, The firm said the resignation of Deloitte will not have a long-term impact on the business of the firm. The firm said the delay in the earnings is not correlated with the auditor firm resigning from its post and this is only a ‘minor hiccup.’
Despite the clarification, the firm is still trading with almost a 20% loss, same as that of the morning trade.
The company, in the exchange filing, did not mention a reason as to why the company took the sudden move. However, it mentioned that the board meeting which was scheduled for May 30 had to be postponed. The new date has not been announced yet.
The company has been planning to expand its business and compete with Maaza and Slice, even as it aims to enhance its geographical reach.
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