Looks like this a new fad which is taking over Dalal Street. One more auditor has resigned – that of Atlanta Ltd.
The company was declare its Q4 and FY18 results on 29th May but it had announced on the 28th that the Board meeting was postponed due to lack of quorum, what with one Independent Director resigning and another was out of India. No new date or when it would be rescheduled was not announced.
And yesterday, after market hours, Price Waterhouse Chartered Accountants stepped down as auditor of the company.
PWC stated that it resigned as auditor because Atlanta did not share significant information and observations made by tax authorities.
The company has not yet announced the appointment of new auditors.
This news led to the stock price opening 20% lower today, hitting the LC and a new low at Rs.51.10.