Vinod Adani Is Part of Promoter Group: Adani Group’s U-Turn on Gautam's Elder Brother https://thewire.in/business/vinod-gautam-adani-u-turn
After saying Vinod Adani does 'not hold any managerial position in any Adani listed entities or their subsidiaries and has no role in their day to day affairs', the conglomerate now says "the Adani Group and Vinod Adani should be seen as one".
even as more reports alleged that Vinod – reportedly a Cypriot national – played a key role in the Adani Group’s foreign deals, the conglomerate maintained that Vinod did not hold “any managerial position in any Adani listed entities or their subsidiaries and has no role in their day to day affairs”.
Now, CNBC-TV18 reports, the Group has said in a statement that the Adani Group and Vinod Adani should be seen as one.
Adani Group Spokesperson has responded to CNBC-TV18 on the query w.r.t the report of Vinod Adani-owned entities acquiring ACC & Ambuja. The Company says Endeavour Trade and Investment (controlled by Vinod Adani), acquirer of ACC & Ambuja Cements, belongs to Adani Group. “We would like to submit that Mr. Gautam Adani and Mr. Rajesh Adani are individual promoters of various listed entities within the Adani group and Mr. Vinod Adani is an immediate relative of the individual promoters,” the group said, per the report.
To usiness Today.. Business Today comment of the Adani Group on this matter said, “Accordingly, as per the applicable Indian regulations, Mr. Vinod Adani is part of the ‘promoter group’ of various listed entities within the Adani group. This fact has been submitted to Indian regulatory authorities from time to time in various disclosures.”