Grant Thornton

Adani says appointment of Grant Thornton as auditor 'market rumour'

Adani group's flagship firm on Thursday termed as 'market rumour' reports of the embattled group hiring Grant Thornton to audit books in the aftermath of the Hindenburg crisis. In a stock exchange filing, Adani Enterprises said the reports "appears to be a market rumour and hence it would be inappropriate on our part to comment on it." On Tuesday, sources had stated that the group has appointed accountancy firm Grant Thornton for an independent audit of a few of its companies to come clean after the allegations levelled by US short-seller Hindenburg Research and to assure investors and regulators. The audits, the sources had said, was to specifically look into if there was any misappropriation or repatriation of funds and if loans were used for any purpose other than the one they were intended for. The market value of the group's listed companies has halved since the January 24 report by Hindenburg Research alleging that Adani pulled the largest con in corporate history using offsh

Adani Group denies reports of hiring Grant Thornton for audits amid crisis

Adani Group | Grant Thornton: Media reports suggested that embattled Adani Grpup had appointed accountancy firm Grant Thornton for an independent audit of a few of its companies in a bid to come clean

Down 66% YoY, total deal value in Q3FY23 second lowest since 2017: Report

According to Grant Thornton Bharat's Dealtracker September 2022 report, a total of 450 deals worth $10.2 billion were recorded in Q3FY23, 25 per cent below the 600 deals recorded in Q3FY22

Deal values halve to $4.1 billion in August, says Grant Thornton Bharat

Deal activity in India halved to USD 4.1 billion in value terms in August 2022 and witnessed a nearly 40 per cent slump in terms of volume, a report said on Thursday. When compared with the preceding month of July, the August deal volume at 131 transactions, witnessed a 23 per cent decline but the value more than doubled due to two deals that were valued at over USD 1 billion, Grant Thornton Bharat, a consultancy firm, said. "The downtrend in deal activity appears to be due to the cautious approach of buyers and investors in committing large capital, given the global macroeconomic scenario and capital market conditions," its partner Shanthi Vijeta said. The deal activity seems lower partly due to non-disclosure of values in most of the merger and acquisition deals, Vijetha added. There were 21 deals valued at USD 1.5 billion on the merger and acquisition front, which included the USD 1.3 billion JSW Energy-Mytrah Energy transaction, it said, adding that while the volume saw a ...

Indian Railways plans to revamp passenger reservation system: Report

The Passenger Reservation System (PRS) of the Indian Railways is all set to undergo a revamp, a move that can help weed out 'malafide users'

Grant Thornton partners with JLU to open India's first analytics centre

The University signing a memorandum of understanding with Grant Thornton on establishing India's first ever Centre for Analytics is sure to open multiple pathways for the youth of this country.

Adani's $10.5-bn Holcim acquisition doubles India Inc's deal value in May'

On the merger and acquisition side, there were 40 transactions in May 2022, aggregating to USD 11.9 billion and more than a fourth of those came from the startup sector

HDFC Bank, HDFC merger takes April deal volume to record $46.3 bn: Report

The same number had stood at $12.91 billion in the year-ago period and $8.7 billion in 2020, the report by Grant Thornton Bharat said

Make investments more attractive in pharma sector: Pre-Budget survey

A pre-budget expectations survey showed increasing demand for making investments more attractive in the pharmaceutical industry.

India Inc's biz sentiments drawing closer to pre-pandemic level: Survey

India Inc's business sentiments are drawing closer to pre-pandemic levels, hinting at a more robust performance in the next quarter, according to a survey by Grant Thornton Bharat

Four years after Modi push, no Indian firm in top league of auditors

Some prime slots are at best held by Indian arms of foreign firms with roots in Europe; govt itself favours the big four for mega advisory roles like disinvestment or asset monetisation

Govt's scheme for FPOs/FPCs catches eye of KPMG, EY, and Grant Thornton

The NPMA will provide project guidance, data maintenance, and monitoring to the 10,000-odd FPCs.

Nabard clean chit to Reliance Commercial Finance, sees no fraud in GT audit

Nabard had classified the account of RCFL as "red flag" in February this year, which led to a detailed forensic audit of the company's books, delaying its sale.

DHFL used multiple software to hide fraudulent deals: forensic report

FoxPro used to show disbursements, receipt of funds from over 260,000 fictitious borrowers

Subsidy extension to spur demand for affordable housing, say experts

The scheme, which has been extended to March 2021, offers interest subsidy of 3-4% to middle-income groups, depending on their income levels

Big-box retailers turn to small stores amid soaring rentals, red tape

Ikea is not the only one moving away from large-format stores

What next, Reliance Home Finance?

This is no default caused by liquidity tightness. It could have been avoided had the loans to group companies not been given. Period.

India business optimism subdued, only 64% firms have positive outlook: IBR

Earlier, India stood at sixth position with 78 per cent of the total respondents showing confidence in the economic growth for the April-June 2018 period

India Inc's Jan-May deal tally at $35 bn: Grant Thornton

Corporate India announced merger and acquisition deals worth USD 1.89 billion in May, taking the year to date tally to USD 35.44 billion driven by big- ticket transactions, says a report. According to assurance, tax and advisory firm, there were 36 deals worth USD 1.89 billion in May, while in the corresponding period last year there were as many transactions worth USD 1.83 billion. In value terms, M&A activity registered a marginal increase of 4 per cent over the same period last year. While the domestic transactions recorded a nearly two-fold increase, the cross-border deal values fell by 49 per cent due to reduced inbound investor interest. During January-May 2017, there were 170 deals worth USD 35.45 billion, registering a significant jump over last year when 204 deals worth USD 13.37 billion were announced. "All eyes seem to be now on GST implementation and its impact on not only trade and economy, but more importantly on investor interest," Grant Thornton India Partner ..