conflict of interest

News, The Morning Context

Madhabi Puri-Buch’s Blackstone connection deserves a closer look

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The SEBI chairperson seems to have been economical with the truth in her responses to the Hindenburg allegations on conflicts of interest, especially to do with her Blackstone ties. What could prove far more problematic for Puri-Buch than her name appearing alongside an entity she is overseeing the investigation of is her close connection with American private equity major Blackstone. The Blackstone connection has ensured that Hindenburg’s allegations aren’t another blip in the news cycle.

Adani Watch, News

The Adani Group’s alleged ‘related parties’ in positions of responsibility

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AdaniWatch examines two examples where appointments of ‘independent directors’ to Adani Group companies have raised questions. One concerns a director whose financial firm has provided important financial advice to numerous Adani companies. Another concerns a director who appears to have been appointed before a mandatory ‘cooling-off period’ for former staff and others with a pecuniary relationship had expired.

Adani Watch, News

Did companies adequately disclose relationship of Gautam Adani’s daughter-in-law as partner in law firm?

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Questions have been raised in the public arena about whether Adani Group companies should have been ‘more forthcoming’ about doing business with a legal firm in which Gautam Adani’s daughter-in-law is a partner. This story details 12 deals in which the legal firm provided advice either to the Adani company concerned or to another party to the deal. As a ‘related party’ to the Adani Group, should Paridhi Adani’s involvement have been formally disclosed to shareholders and stock exchanges?

Adani Watch, News

Gautam Adani’s long-time buddy runs lucrative Covid-19 tests at Adani-run Indian airports

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A firm owned by a long-time friend of Gautam Adani is running lucrative covid tests at Adani-run airports in India. The firm appears to have charged rates that are substantially higher than those charged by laboratories at other airports. The company, North Star Diagnostics Private Limited, is owned by Adani’s long-time buddy Dr Malay Ramesh Mahadevia and his immediate family members, including his wife Sonali Mahadevia and his two daughters Tulsi and Bansari.

News, News Laundry

How top Meta executive Shivnath Thukral has links with a firm that works for Modi and BJP

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The firm, Opalina Technologies, was involved in the #MainBhiChowkidar campaign. Shivnath Thukral owned stake in this firm, and his father continues to do so. Shivnath Thukral, a public policy director, India, at WhatsApp Inc (owned by Facebook, now known as Meta) since March 2020, had once owned a stake in Opalina Technologies – a company that has provided software solutions for India’s prime minister Narendra Modi, the prime minister’s office, the Bharatiya Janata Party.

News, News Click

Have Justice Arun Mishra’s Judgements Helped Adani Group?

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With less than a month to go before his retirement from the Supreme Court, Justice Arun Mishra is expected to pronounce the judgement of a three-judge bench he heads in a case concerning a company in the Adani group. This will be the seventh case involving Adani group companies heard by benches led by Justice Mishra since 2019, with the previous six judgements having gone in favour of the group. If the decision on the seventh case also goes in the Adani group’s favour, it would leave public power distribution utilities and consumers in Rajasthan poorer by around Rs 5,000 crore.

Caravan Magazine, News

An Unnamed IAS Officer Levels Serious Allegations of Corruption Against Big-Four Firm KPMG India

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An anonymous letter written by a civil servant, addressed to Prime Minister Narendra Modi, has levelled serious allegations against the multinational consulting firm KPMG’s India operations. In the letter, a senior bureaucrat who claims to be a member of the elite Indian Administrative Service accuses the group of exercising influence over key government officials by, among other means, recruiting their children and relatives.

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