Bell Pottinger has been defending its reputation over a number of weeks due to the scandal. A report by law firm Herbert Smith Freehills, commissioned by the company and released Monday, stated that the agency's work for Gupta business Oakbay Investments was "potentially racially divisive" and "created in breach of relevant ethical principles."
Bell Pottinger's Chief Executive James Henderson resigned Monday, as trade body the Public Relations Communications Association expelled the company from its membership. Henderson sought to distance himself from the Oakbay account, saying in a statement he "neither initiated nor was involved" in it.
Oakbay was a lucrative account for Bell Pottinger, worth £100,000 ($130,000) a month, according to an email sent by former CEO Tim Bell who spoke on the BBC's "Newsnight" program Monday. Although Bell admitted to meeting the members of the Gupta family in January 2016, he told presenter Kirsty Wark: "I had nothing to do with getting this account."
Bell left the company in August 2016, partly due to the association with the Guptas.
A BDO spokesperson said in a statement emailed to CNBC: "Due to reasons of confidentiality we do not comment on business matters of this nature."
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