Reliance Capital joint auditors reject PWC allegations

New Delhi: Reliance Capital on Thursday said its joint auditors have confirmed that there are "no violations" as alleged by the firm's previous auditor Price Waterhouse & Co Chartered Accountants LLP (PWC).

The board of directors of Reliance Capital on August 8 held special meeting to review the matters arising out of the letter filed by PWC with the Ministry of Corporate Affairs (MCA), under Section 143(12) of the Companies Act, 2013.

"The board took note of the views of the other joint auditors, who have been auditors of the company for the last 3 financial years and continue as the sole statutory auditors of the company, confirming that there are no violations as alleged by PWC under Section 143 (12) of the Companies Act, 2013," Reliance Capital said in a BSE filing.

The board said that PWC had duly audited the accounts for financial year 2017–2018, as also limited review of financial results of three consecutive quarters ended December 2018.