'Market rumour': Adani Group rubbishes reports of hiring accountancy firm Grant Thornton for independent audit

In a stock exchange statement, Adani Enterprises said the news about hiring Grant Thornton appears to be a "market rumour and hence it would be inappropriate on our part to comment on it.”

“We wish to confirm that we have made and will continue to make disclosures in compliance with our obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and our agreements with the stock exchanges. You are requested to take the above on your records,” the statement added.

Earlier multiple media reports indicated that the Adani Group appointed Grant Thornton to conduct independent audits some of its companies in an attempt to neutralise the allegations made by US short-seller Hindenburg Research.

Hindenburg Research accused the Gautam Adani-led conglomerate of stock manipulation and accounting fraud, triggering a massive decline in the stock prices of the listed Adani Group companies.

Adani Group has taken several measures to reinstate investor confidence, including early payment of loans worth $1.1 billion to release pledged shares to boost market sentiment. The conglomerate is also planning to prepay $500 million to a group of foreign banks.