Manpasand Beverages shares crash 20% after company cancels board meet on Deloitte’s resignation as auditor
Tuesday, May 29, 2018 IST
Shares of Gujarat-based fruit juice maker Manpasand Beverages crashed 20% in the early deals on Monday after the company cancelled its board meeting scheduled on 30 May 2018 on Deloitte's resignation as statutory auditor of the firm.
Shares of Gujarat-based fruit juice maker Manpasand Beverages crashed 20% in the early deals on Monday after the company cancelled its board meeting scheduled on 30 May 2018 on Deloitte’s resignation as statutory auditor of the firm. In lieu of Deloitte, Manpasand Beverages has appointed Mehra Goel & Company as the statutory auditor of the company. Shares of Manpasand Beverages slumped 20% to 52-week low levels and were locked in the lower circuit since Monday morning.
“Subsequent to resignation of M/s. Deloitte Haskins & Sells, Chartered Accountants, Vadodara, (FRN:- 117364W) the statutory auditors of the company with effect from May 26, 2018, the board of directors of the company upon the recommendation of the audit committee, have appointed M/s. Mehra Goel & Co., Chartered Accountants, New Delhi, (FRN:- 000517N) as statutory auditor of the company with effect from 27th May 2018 to fill the casual vacancy in the office of statutory auditors, who shall hold office as such till the conclusion of the ensuring annual general meeting, subject to the approval of the members of the company,” Manpasand Beverages said in an exchange filing.
“Due to sudden resignation of existing auditors, the business to be transacted at scheduled board meeting as intimated to your office on 23 May 2018 has been cancelled and further notice for the same will be sent you in due course of time,” Manpasand Beverages added.
Following the blow, Manpasand Beverages share price tumbled 20% to a 52-week low of Rs 344.8 on BSE. At the trading counters, only 76,723 equity shares exchanged hands on both NSE and BSE up until 11:10 am. With a sharp dip in the share prices, Manpasand Beverages lost about Rs 987 crore in the market capitalisation. At the current market price, Manpasand Beverages commands a market capitalisation of Rs 3,946.66 crore as against Rs 4,933.33 as on Friday.
Related Topics
Related News & Articles
Naturally, the launch led to alien and UFO sighting rumours.
Recently posted . 666 views . 0 min read
An Mi-17 chopper of the Indian Air Force crashed on Friday near Tawang in Arunachal Pradesh, killing all seven personnel on board, a senior IAF official said.
...
Recently posted . 551 views . 7 min read
On September 7, Lander Vikram, with rover Pragyan, lost contact with the ground station during its final descent, just 2.1 kms above the lunar surface, minutes be...
Recently posted . 477 views . 2 min read
Around 4 pm, relatives and family members of the five people who died in Thursday's plane crash at Ghatkopar started gathering at Rajawadi Hospital to identif...
Recently posted . 1K views . 2 min read
A private security guard around where the car crashed said that he saw Prashant Kasana trying to spit pan masala seconds before ramming his Jaguar on a divider.
Recently posted . 501 views . 1 min read
Trending News & Articles
While the Uttarakhand High Court has asked to block 857 websites, the Ministry of Electronics and IT (Meity) found 30 portals without any pornographic content.
...
Recently posted . 61K views . 1 min read
The four boys as well as five school officials, including the director and principal, were arrested after the incident. The minors were presented before the Juvenil...
Recently posted . 7K views . 1 min read
Rahul was having an Italian passport and was carrying suitcase full of dollars. Some say it was about was it $2 million.
Rahul and his girl friend was th...
Recently posted . 7K views . 7 min read
True – Tr...
Recently posted . 6K views . 83 min read
More in National
Among the numerous things Prime Minister Narendra Modi is probably going to discuss in his fourth Independence Day discourse this month is a proposition to change a...
Recently posted. 547 views . 22 min read
The Indian government panel appointed to recommend cryptocurrency measures has reportedly submitted its report to the country’s finance minister, suggesting...
Recently posted. 592 views . 2 min read
After a ferociously fought month-long election campaign, option bound up in municipal firms on a blazing Sunday, with around 53.53 per cent turnout, kind o...
Recently posted. 746 views . 20 min read
Recently posted . 836 views
Recently posted . 915 views
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 979 views . 48 min read
Recently posted . 1K views . 42 min read
The next time you’re having a house party, enjoying a glass of wine with your family or gorging on freshly prepared rum cakes, you must stay wary. Very wary. ...
Recently posted. 710 views . 3 min read
The BrahMos, the world's fastest supersonic cruise missile, was successfully test fired from a Sukhoi-30 combat jet on November 22...
Recently posted. 477 views . 1 min read