India’s accounting regulator, the National Financial Reporting Authority (NFRA), is investigating S.R. Batliboi, an EY member firm that audits companies within Gautam Adani’s conglomerate, according to sources. S.R. Batliboi currently audits three listed Adani group firms and two recently acquired cement companies. The inquiry is part of a larger investigation into Adani companies, with auditors of Adani companies expected to face similar scrutiny. Deloitte previously resigned as auditor of Adani Ports amid concerns raised by short-seller Hindenburg.
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