New Delhi: Anil Ambani-led Reliance Capital on Thursday said its erstwhile statutory auditor Price Waterhouse & Co Chartered Accountants' observations about its accounts were "completely baseless and unjustified". PWC has acted prematurely without even statutory discussions with the audit committee," Reliance Capital said in a regulatory filing. Reliance Capital said it was by law required to fund only group entities, being a core investment company (CIC). Both Reliance Capital and Reliance Home Finance on Wednesday said they did "not agree with the reasons given by PWC" for its resignation. The ₹35,000 crore worth of payments made relates to the debt of Reliance Capital, Reliance Power and Reliance Infra, and their respective affiliates.

Source: Mint June 13, 2019 06:22 UTC