Adani Total Gas’s statutory auditor resigns

Shah Dhandharia cites ‘professional preoccupation’ as the reason.

Less than a year after it was reappointed as the statutory auditor of Adani Total Gas, Shah Dhandharia & Co. has resigned, a stock exchange filing on Tuesday showed. The resignation comes months after US-based short seller Hindenburg Research alleged stock manipulation and accounting fraud by the Adani group. 

“We have carefully evaluated and due to increased professional pre-occupation in other assignment, we regrettably propose our resignation,” Shah Dhandharia & Co said in a letter dated 2 May, included in the exchange filing. “Our resignation does not result from an inability to obtain sufficient appropriate audit evidence. There are no …

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Aakriti Bhalla

Aakriti used to write at the intersection of public markets and large corporations. She joined The Morning Context from The Financial Express, where she was with the markets team, and before that had started out in business journalism as a correspondent with Reuters.

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aakriti@mailtmc.com

Delhi