Adani Ports falls after auditor Deloitte quits

NEW DELHI: Shares of Adani Ports and Special Economic Zone dropped 3.5% in early trade on Monday after the company’s auditor Deloitte resigned.

The the Board of Directors at Adani Ports and Special Economic Zone Limited on Sunday appointed M S K A and Associates, an independent member firm of BDO International, as the statutory auditors of the company to fill the vacancy caused by the resignation of Deloitte Haskins and Sells LLP.
The new auditor will hold office till the date of the next annual general meeting of the Company to be held in 2024, “pursuant to Section 139 and other applicable provisions, if any, of the Companies Act, 2013”, Adani Ports informed stock exchanges in a filing late on Saturday evening.

Since May 2017, Deloitte has been Adani Ports and Special Economic Zone’s statutory auditor. In July 2022, APSEZ reappointed Deloitte as its statutory auditor for another term of five years, which was supposed to end in March 2027.