Manpasand Beverages, which got into a kerfuffle due to the exit of its auditor ahead of the declaration of its annual earnings, blamed system upgrades for the delay in providing data and information to the auditor.

The exit of Deloitte Haskins & Sells India as the auditor of Manpasand Beverages, the parent company of the Mango Sip brand, triggered a sudden fall in share prices and speculation that it was reluctant to share crucial information.

The company said that more information regarding distribution numbers was required by the auditors which could not be provided on time and added that they were working with the new auditors, Mehra Goel & Co, with effect from May 27.

All the distribution related information has been now passed to the auditors and the results will be declared soon, the company said.

The company clarified that it had not heard from the Ministry of Corporate Affairs on any probe.

Also Read: Manpasand Beverages slips 20% after Deloitte resigns as firm's auditors

The firm said the resignation of Deloitte will not have a long-term impact on the business of the firm. It said the delay in the earnings is not correlated with the auditor firm resigning from its post and termed it as only a 'minor hiccup.'

The company has been planning to expand its business to compete with Maaza and Slice, even as it aims to enhance its geographical reach.

First Published:May 29, 2018 2:20 PM IST