related party transactions

News, The Morning Context

Adani’s ties with Adi group make convenient business sense

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Ostensibly competing suppliers of imported coal, the two business groups are joined at the hip and may actually be helping each other out. An investigation by The Morning Context lays out how the lines between client, supplier, investor, associate and proxy blur. The Adi group’s businesses range from coal and commodity trading to real estate development. Its founder, Utkarsh Shah, is described as a friend of Adani group chairman Gautam Adani for over 30 years.

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

Contradictions and delays cast doubts on regulator’s probe into Adani’s transactions

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The investigations by the Securities and Exchange Board of India (SEBI) into transactions by Adani Group entities have been marred by controversy, raising questions about its ability to handle the high-stakes probe with transparency and efficiency. The Supreme Court of India stipulated a deadline of 2 May 2023 for SEBI to conclude its investigation. However, in May, in response to applications by SEBI, the court extended that deadline to 14 August 2023. SEBI’s floundering has brought the regulator under increased scrutiny.

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