BRIEF-India's Reliance Capital Says PWC’S Observations Are Completely Baseless And Unjustified
June 13 (Reuters) - Reliance Capital Ltd:
* SAYS PWC’S OBSERVATIONS ARE COMPLETELY BASELESS AND UNJUSTIFIED
* SAYS PWC HAS ACTED WITHOUT STATUTORY DISCUSSIONS WITH THE AUDIT COMMITTEE
* SAYS ALL RESOURCES HAVE BEEN UTILISED PURELY TO SUPPORT GROUP DEBT SERVICING OF 350 BILLION RUPEES IN PAST 14 MONTHS
* SAYS NO QUESTION OF ‘DIVERSION’; ZERO LOANS AND/OR LIQUIDITY HAVE BEEN PROVIDED BY ANY LENDER IN THE PWC AUDIT PERIOD
* RELIANCE CAPITAL-CO'S CONTINUING AUDITOR BEEN MANDATED BY THE AUDIT COMMITTEE TO SUBMIT ITS INDEPENDENT REPORT ON PWC’S OBSERVATIONS WITHIN 15 DAYS Further company coverage:
