Auditor named in Hindenburg Report Resigns from Adani Group
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A small Ahmedabad-based chartered accountancy firm, whose appointment was questioned by a US short seller in its scathing report against the conglomerate run by billionaire Gautam Adani, has resigned due to "pre-occupation", Adani Total Gas Ltd said.
Hindenburg Research in its January 24 report that levelled allegations of fraud, stock manipulation and money laundering against the Adani group, had also raised the issue of the size and capability of the firms auditing the conglomerate.
Hindenburg stated that the independent auditor for the group's flagship firm, Adani Enterprises, and its city gas retailer Adani Total Gas Ltd is a "tiny firm" called Shah Dhandharia.
CLICK ON THE LINK TO WATCH THE FULL VIDEO,
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Hindenburg Research in its January 24 report that levelled allegations of fraud, stock manipulation and money laundering against the Adani group, had also raised the issue of the size and capability of the firms auditing the conglomerate.
Hindenburg stated that the independent auditor for the group's flagship firm, Adani Enterprises, and its city gas retailer Adani Total Gas Ltd is a "tiny firm" called Shah Dhandharia.
CLICK ON THE LINK TO WATCH THE FULL VIDEO,
https://youtu.be/ETA1-xgPzi0
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