Business Standard

Adani counters Hindenburg charges, says top firms are auditing 8 group cos

Group says it is evaluating Big-6 firm to audit Adani Total Gas; Hindenburg, by its own admission, is stands to gain from a slide in Adani shares


Dev Chatterjee Mumbai
The Adani group has said the alleged accounting or fraud type assertions or “investigation” by US-based Hinderburg Research is "devoid of facts" as of the group’s nine public listed entities, eight are audited by one of the big-six auditing companies.

The company said it acts as an incubator and has businesses in various sectors and subsidiaries and associates spread over eight jurisdictions. "There are more than 27 statutory audit firms
which audit various entities within Adani Enterprises. These include a mix of big-four statutory auditors as well as statutory auditors who are highly reputed in their respective jurisdictions."

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First Published: Jan 27 2023 | 9:02 PM IST

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