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Adani group has clear links to Howe, misled investors and Deloitte

But with Howe identified, the denial of any relationship between it and the Adani group flew in the face of publicly available information, and was possibly a key reason for Deloitte resigning as APSEZ’s auditor a few months later. Howe Engineering Projects’ parent firms are described as Adani group entities on an affiliate’s website, and there are multiple trails of evidence linking Howe to the conglomerate owned by Gautam Adani’s brother Vinod Adani and associate Chang Chien-Ting.

Adani Watch, News

Adani axes projects and spending in wake of Hindenburg rout

Major fossil-fuel projects have a question mark hanging over them since Adani’s Hindenburg-driven credit crunch. Three months on from the bombshell Hindenburg report, the Adani Group’s fortunes are yet to turn. The Hindenburg allegations have created a lasting political scandal in India. Meanwhile, on the business side of things, the group faces a persistent debt crunch. Continuing media scrutiny has resulted in a flow of damaging revelations about the group’s businesses. Despite a halting recovery in the stock markets, the group’s net loss since the Hindenburg report is still over US $100 billion.

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