New Delhi: A top auditor has flagged some transactions by Adani Group, citing allegations from US-based short seller Hindenburg Research’s report that wiped off half of the market value of the ports-to-power conglomerate.Deloitte Haskins & Sells LLP raised concerns on Tuesday over Adani Ports & Special Economic Zone’s transactions with three entities, which the company said were unrelated parties. However, the auditor said it could not confirm that the parties were indeed unrelated, Bloomberg reported.It has issued a qualified opinion on the accounts of Adani Ports.According to the Morning Context, the auditor said the group’s evaluation of the Hindenburg report is insufficient evidence for the purpose of audit.The report said, citing Deloitte’s note, that the company has also refused to get an independent external examination that would help prove so. This is because the Securities and Exchange Board of India (SEBI) is investigating the allegations made by Hindenburg Research against Adani Group.Deloitte, therefore, said that it cannot comment if the company was fully compliant with local laws, the Bloomberg report said.This refocuses attention on the lack of information needed to audit the Adani Group companies. For instance, a Supreme Court-appointed expert panel said that due to repealed provisions in 2018, SEBI could not continue its investigation into Adani Group’s dealings with offshore funds. These funds have invested in Adani Group companies, and several media reports have questioned the free float status of the Adani Group with respect to the group’s relation with these funds. Due to their tax haven status, authorities are not able to access information on the ultimate beneficiary of these offshore companies.Similarly, in several other cases, including the Deloitte report, it appears there’s insufficient information available that is required to investigate these matters.The apex court panel, however, has said that it has found no regulatory failure or signs of price manipulation in the Adani Group stocks. And, Adani Group had vehemently denied Hindenburg Research’s allegations of stock manipulation and accounting fraud.Also read: Because of Repealed Provisions, SEBI Hit ‘Opaque Structure’ Wall While Investigating Adani: SC PanelBloomberg reported that Deloitte has flagged three transactions of Adani Group. First, the group signed an engineering contract with a subsidiary of a company identified in the Hindenburg report from whom Rs 3,750 crore ($453 million) was recoverable as of March 31. The auditor was told by the group that this contractor is not a related party.Second, there have been financial transactions, including of equity, made with parties identified in the short seller report. Adani Group told Deloitte that these are not related parties. All payables were settled with no dues remaining.The third transaction flagged by the auditor was Adani Ports’ sale of its Myanmar port to Solar Energy Ltd, incorporated in Anguilla, earlier this month. The sale price was revised from Rs 2,015 crore to just Rs 247 crore and an impairment charge was taken. The group told the auditor these are not related parties.Reuters reported that the company concluded this deal at a heavy discount, which was significantly lower than its investment in the project.