Adani Group, one of India’s largest conglomerates, on Thursday issued a clarification on the media reports of hiring an audit firm Grant Thornton for independent audits of some of its companies. The conglomerate clarified the hiring news as a “market rumor”.
“We would like to clarify that the said news item appears to be a market rumor and hence it would be inappropriate on our part to comment on it. We wish to confirm that we have made and will continue to make disclosures in compliance with our obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and our agreements with the stock exchanges.”
Several media reports suggest that Adani Group has hired Grant Thornton to discredit claims by short-seller Hindenburg Research.
Hindenburg Research has recently published a report titled “Adani Group – How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History” alleging that Adani Enterprises has engaged in various financial irregularities, including overstating its earnings and assets.