Adani Shares Decline Up To 4.2% After Auditor Deloitte Resigns – News18


Shares of Adani Ports and Special Economic Zone on Monday, August 14, declined 3.5 per cent in the early trade after the company’s auditor Deloitte resigned. In a 163-page filing with stock exchanges relating to Deloitte Haskins & Sells LLP’s resignation, Adani Ports and Special Economic Zone (APSEZ) has said that in meetings with its leadership, Deloitte indicated concern over a lack of a wider audit role as auditors of other listed Adani companies.

Adani Enterprises was also down by Rs 106.3 or 4.19 per cent to Rs 2,432.15 on the BSE. Adani Green Energy was down too, by Rs 22.25 or 2.29 per cent at Rs 949.25.

Apart from these, Adani-owned companies including Ambuja Cements, NDTV and ACC were also trading down during the morning session

In the August 12 resignation letter, Deloitte said it was resigning as auditor of APSEZ with immediate effect “because we are not statutory auditors of a substantial number of other Adani Group of companies.” It went on to state that it had given a qualified opinion in audit of financial statements for quarters ended March 2023 and June 2023.

APSEZ appointed MSKA & Associates, an independent member firm of BDO International, as its statutory auditors in place of Deloitte, until the date of its next annual general meeting to be held in 2024, the company said in a filing.

The BSE Sensex on Monday, August 14, declined by about 460 points to 64,862 in the opening trade, owing to pessimism across the Asian indices. The NSE Nifty also declined 154.1 points to 19,274.20 in the early morning trade. The rupee fell 25 paise to 83.07 against US dollar in early trade.

Among 30 Sensex companies, 25 were in the red. Top-5 losers included JSW Steel, Tata Motors, SBI, Bajaj Finserv were Tata Steel, declining up to 2.12 per cent.


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