PwC resigns as auditor of Eveready Industries

Price Waterhouse & Co Chartered Accountants LLP has resigned as an auditor of Eveready Industries, saying that it did not receive sufficient evidence regarding transactions pointed out by the auditors during the audit of the company's financial results for the March quarter.

The company did not provide "sufficient audit evidence" regarding the possible loss/impairment to be recognised on inter-corporate deposits and advances, the auditor said in a letter furnished by the company in a regulatory filing dated May 27. The auditor said it had enquired about a Rs 62 crore advance the company has given to a company on the basis of a memorandum of understanding.