NEW DELHI: The Adani group called the reports of the conglomerate that hires accounting firm Grant Thornton for independent audits of some of its companies “rumor”.
The company wrote to the Bombay Stock Exchange, citing a media report on the group hiring Grant Thornton, that “…the above news appears to be a market rumor and it would therefore be inappropriate for us to comment on it.”
The letter further said: “We wish to confirm that we have made and will continue to make disclosures in
compliance with our obligations under the Listing Obligations and Disclosure Requirements (SEBI) regulations.
A damning report by short seller Hindenburg Research saw some of the group’s companies lose their market capitalizations by more than 50%.
Shares of the group’s seven listed subsidiaries have cumulatively lost about $120 billion in market value over the past three weeks.
The conglomerate, led by billionaire Gautam Adani, has strongly denied the allegations but investors remain concerned.
The company wrote to the Bombay Stock Exchange, citing a media report on the group hiring Grant Thornton, that “…the above news appears to be a market rumor and it would therefore be inappropriate for us to comment on it.”
The letter further said: “We wish to confirm that we have made and will continue to make disclosures in
compliance with our obligations under the Listing Obligations and Disclosure Requirements (SEBI) regulations.
A damning report by short seller Hindenburg Research saw some of the group’s companies lose their market capitalizations by more than 50%.
Shares of the group’s seven listed subsidiaries have cumulatively lost about $120 billion in market value over the past three weeks.
The conglomerate, led by billionaire Gautam Adani, has strongly denied the allegations but investors remain concerned.
