Photo: Bloomberg
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Adani Says Appointment Of Grant Thornton As Auditor 'market Rumour'
The audits was to specifically look into if there was any misappropriation or repatriation of funds and if loans were used for any purpose other than the one they were intended for
Topics
Adani Group | Grant Thornton | auditor
Adani group's flagship firm on Thursday termed as 'market rumour' reports of the embattled group hiring Grant Thornton to audit books in the aftermath of the Hindenburg crisis.
In a stock exchange filing, Adani Enterprises said the reports "appears to be a market rumour and hence it would be inappropriate on our part to comment on it."
On Tuesday, sources had stated that the group has appointed accountancy firm Grant Thornton for an independent audit of a few of its companies to come clean after the allegations levelled by US short-seller Hindenburg Research and to assure investors and regulators.
The audits, the sources had said, was to specifically look into if there was any misappropriation or repatriation of funds and if loans were used for any purpose other than the one they were intended for.
The market value of the group's listed companies has halved since the January 24 report by Hindenburg Research alleging that Adani pulled the largest con in corporate history using offshore tax havens and stock manipulation.
Adani Group denied all the allegations levelled by Hindenburg Research and called them malicious, baseless and a calculated attack on India. It called Hindenburg the Madoffs of Manhattan, referring to the late financier and fraudster Bernie Madoff.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Thu, February 16 2023. 21:07 IST
RECENT NEWS
JPMorgan's Berlin Moment: Chase Takes On Europe
There is something quietly symbolic about JPMorgan Chase choosing Berlin as its gateway into continental Europe. In a fo... Read more
What Strategy's Bitcoin Sale Really Tells Us
There is a moment in every bull run when the narrative starts to fray. Not with a crash, not with a scandal, but with so... Read more
Coutts Sets Scope On New Continent
Coutts steps into private marketsCoutts, the private bank best known for serving Britain’s wealthiest families and the... Read more
From Cypherpunk To Citadel
How Crypto Moved from the Wild West to the Mainstream Financial SystemA long-form analysis of Bitcoin's journey from fri... Read more
ACB Securities: Building Scale, Trust & Innovation
ACB Securities: Building Scale, Trust and Innovation in Vietnam’s Capital MarketsACB Securities (ACBS) is emerging as ... Read more
War Risk Returns To Markets As VIX Surges
For most of the past year, global markets behaved as though geopolitical risk had largely disappeared. Inflation was eas... Read more