Adani Total Gas’s statutory auditor resigns

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Editor's note: 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 other circumstances connected with our resignation which we consider should be brought to the notice of the Board.” The company has appointed Walker Chandiok & Co., an associate of Grant Thornton, as statutory auditor effective 2 May. Adani Total Gas, in which the Adani group and France’s TotalEnergies have 37.4% stake each, had reappointed Shah Dhandharia on 26 July last year as statutory auditor for five years. The firm was also appointed as statutory auditor for Adani Enterprises and Adani …