Adani Ports & Special Economic Zone auditor Deloitte Haskins & Sells said insufficient disclosures over certain transactions means it can only issue a qualified opinion on the firm’s accounts, returning the spotlight to short seller Hindenburg Research’s allegations on Gautam Adani’s empire
As per Bloomberg, Deloitte Haskins & Sells LLP expressed concerns on Tuesday about the port unit's transactions with three unrelated firms. However, the auditor stated that it was unable to certify that the parties were unrelated, and that the firm has declined to obtain an independent external assessment that would help prove this.
Deloitte raised concerns over Adani Ports's transactions with three entities, which the company said were unrelated parties. However, the auditor said it could not confirm that the parties were indeed unrelated. It has also issued a qualified opinion on the accounts of Adani Ports.
Serious Fraud Investigation Office (SFIO), Mumbai, had lodged a case against IL&FS Group of Companies and their key managerial personnel for alleged financial irregularities