Gautam Adani's Adani Ports confirms Deloitte resignation; appoints MKSA & Associates

Adani Ports & Special Economic Zone Ltd (APSEZ) has confirmed the resignation of UK-based accounting giant Deloitte and has appointed MKSA & Associates as its new statutory auditor.

Deloitte's resignation was mutually agreed upon and was due to the fact that Deloitte was not willing to continue as APSEZ’s statutory auditor

Another reason for Deloitte's resignation was concerns over certain related party transactions flagged in a report by US. short seller Hindenburg in January, but Adani did not wish to look into them independently.

Deloitte had been serving as the statutory auditor for APSEZ since 2017, and the board had reappointed Deloitte for another five-year term in July of the previous year

Deloitte expressed its desire for a broader audit role across other listed Adani portfolio companies, but the audit committee felt that the reasons provided for its resignation were neither convincing nor sufficient

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