NEW DELHI: The beleaguered Manpasand Beverages plunged 20 per cent on Tuesday, taking its slide to 40 per cent in five sessions.The stock hurtled down as auditor Deloitte Haskins & Sells India quit days before its earnings announcement. The firm has cancelled its fourth quarter earnings scheduled for Wednesday.Stock of Manpasand Beverages crashed 20 per cent to hit a low of Rs 275.85 on the BSE . This was over and above the 20 per cent slide on Monday and marginal decrease in the previous three sessions."We believe the stock could face uncertain times in the near term in wake of this development and hence, we have decided to suspend our coverage on the stock until further clarity from the management," said Religare Securities.Earlier this month, auditing major Price Waterhouse quit the audit mandate of Vakrangee , flagging concerns to the corporate affairs ministry about the books of accounts, mainly related to its bullion and jewellery business. The scrip dropped 67 per cent in the last one month and 77.85 per cent over the past one quarter.In the case of Manpasand Beverages, the auditor said significant information requested from the company at various points of time for the purpose of audit of the financial results was not shared."We observe that there has been no further progress with respect to the pending information, evidences and explanations. Therefore, as informed to you, we would be unable to complete the statutory audit of the financial statements of the company for the year ended March 31, 2018, by May 30, 2018,” Deloitte said.The event has come as a surprise just ahead of the earnings release, said Motilal Oswal Securities. "We will wait for the Q4 FY18 results and further disclosures. We, thus, put our rating ‘Under Review’," it said."While the board has appointed new auditors (Mehra Goel & Co), we lack comfort on rating the company, given the lack of disclosure on reasons for the resignation of the earlier auditors. We shall review our stance post the publication of the annual results (likely in first half of June) or the FY2018 annual report," said Kotak Securities.The brokerage has suspended the company's rating for now. It had earlier a 'Buy' on the stock.Manpasand on its part termed the timing of this event as 'purely coincidental', claiming that it has no direct correlation with the forthcoming financial results."The board meeting has been postponed and the new date will be announced shortly. This is just a minor hiccup and doesn't represent any long-term business impact," the company said."Manpasand Beverages has always focused on maintaining a sustained business growth. We still have a long way to go to achieve our high ambitions and we are well on the way. We hope for the continued support of our shareholders and stakeholders in this process," it maintained.