Ashish Ranjan
Thursday, Adani Group released a clarification regarding the company employing accountancy firm Grant Thornton for an independent audit of several of its companies, calling the rumour that the company was doing so a “rumour.”
Adani Enterprises sent the following statement to the exchanges in the form of a notice: “We would like to explain that the said news item appears to be a market rumour and as a result, it would be inappropriate on our side to comment on it.”
This comes two days after the market regulator Sebi had sought a clarification from the company over a report from Business Standard. The report stated that Adani Enterprises had hired Grant Thornton for independent audits of some of its companies in an effort to discredit claims by short-seller Hindenburg Research that have battered its stocks and bonds. This comes as a result of the fact that Adani Enterprises has hired Grant Thornton for independent audits of some of its companies.
“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), 2015 and our agreements with the stock exchanges,” the company informed. “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), 2015.”
Following the publication of a report by Hindenburg Research on January 24, which claimed that the Adani Group is “engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades,” the market value of the companies that make up the Adani Group fell by nearly 120 billion dollars.
The multinational company has responded to the charges made by the short-seller located in the United States by stating that its balance sheet is “extremely healthy.”
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Adani Enterprises (AEL) continued to increase for a third day after posting positive results for the third quarter, which helped boost the value of the shares of Adani Group companies, which were trading in the positive on Thursday amid a rally in domestic equities. Other Adani Group stocks, including Adani Wilmar, Adani Transmission, and Adani Green Energy, also experienced gains on the BSE that were greater than 5 percent.
