Infibeam terminates auditor services for leaking sensitive info
India's first profitable e-commerce company Infibeam Avenues terminated services of chartered accountancy firm S.R.B.C & Co. LLP as one of the joint statutory auditors on grounds of alleged sharing of unpublished price-sensitive information.
SRBC & Co LLP, in a statement issued later in the day, however, refuted charges and said it is open to regulatory inspection and will respond to the regulators, as required.
In a regulatory filing, Infibeam Avenues said that the board Sunday recommended, subject to the approval of regulatory authorities and shareholders, "to terminate company's joint statutory auditor S.R.B.C & CO. LLP (Auditor), on the grounds of sharing company's unpublished price-sensitive information with personal e-mail accounts of their team and third-party on m...