DELOITTE HAS RESIGNED as auditor of the Adani group's port company, with the firm run by billionaire Gautam Adani saying the auditor wanted a wider remit over other firms in the conglomerate following the report of a US short seller.
The resignation comes weeks after Deloitte raised concern over certain transactions flagged in the report of Hindenburg Research.
In a statement, Adani Ports & Special Economic Zone (APSEZ) confirmed the resignation and appointment of MSKA & Associates as the new auditor. Deloitte has been the auditor of APSEZ since 2017. In July 2022, it was given another five-year term.
"In Deloitte's recent meeting with APSEZ management and its Audit Committee, Deloitte indicated a lack of a wider audit role as auditors of other listed Adani portfolio companies. The Audit Committee was of the view that the grounds advanced by Deloitte for resignation as Statutory Auditor were not convincing or sufficient to warrant such a move," it said.
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