Regarding rumours that it had hired Grant Thornton as an independent auditor of certain of its subsidiaries, Adani Enterprises has provided clarification to the stock exchange.
Adani Group terms Media Reports as ‘Market Rumour’
Further Adani Group has issued a statement to the BSE and has slammed the report as a market rumour,
“We would like to clarify that the said news item appears to be a market rumour 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,”
At 2.30 pm on Thursday, shares of Adani Enterprises are trading softly, not far from the day’s low of about Rs 1,802.50 per share.
News Agencies have reported that Adani Group has appointed accountancy firm Grant Thomson for independent audits of some of its companies in a bid to discredit claims by short seller Hindenburg Research that has battered its stocks and bonds.
Adani Group considered independent evaluation of issues related to Legal Compliance
Following the Hindenburg investigation, the Adani Group was considering having an independent assessment of its internal controls, related party transactions, and legal compliance-related issues, according to a Media Report. Reuters was also informed by one of the individuals that Grant Thornton will examine the Adani Group’s related-party transactions to see if they conformed with corporate governance rules.
On the same day, the Securities and Exchange Board of India (SEBI) declared that it was looking into the Hindenburg report as well as the market behaviour before and after it was released.
After index provider MSCI announced that it would delay the adoption of adjustments to weightings for two Adani Group companies – Adani Total Gas and Adani Transmission – to the May benchmark review, shares of Adani Group companies rose.
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