Grant Thornton Appointment a Rumour: Adani

| Updated: February 17, 2023 11:16 am

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.

On Tuesday, sources stated that the group had 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.

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