{"id":27294,"date":"2023-03-18T08:31:07","date_gmt":"2023-03-18T08:31:07","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/adani-group-says-vinod-adani-part-of-promoter-group-amid-acc-ambuja-ownership-question-mauritius-entity-already-disclosed"},"modified":"2023-03-18T09:32:35","modified_gmt":"2023-03-18T09:32:35","slug":"adani-group-says-vinod-adani-part-of-promoter-group-amid-acc-ambuja-ownership-question-mauritius-entity-already-disclosed","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/adani-group-says-vinod-adani-part-of-promoter-group-amid-acc-ambuja-ownership-question-mauritius-entity-already-disclosed","title":{"rendered":"Adani Group says Vinod Adani part of promoter group amid ACC, Ambuja ownership question; Mauritius entity already disclosed"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Mauritius. <\/strong><\/span>Vinod Adani, the lesser-known elder brother of Adani Group founder Gautam Adani, is part of the promoter group, the conglomerate has said after questions were raised about his status following short seller Hindenburg Research naming him prominently in its scathing report on the Adani group.<\/p>\n<p>\u201cWe would like to submit that Gautam Adani and Rajesh Adani are individual promoters of various listed entities within the Adani group and Vinod Adani is an immediate relative of the individual promoters,\u201d the group\u2019s flagship Adani Enterprises said in a stock exchange filing on Thursday.<\/p>\n<p>Accordingly, as per the applicable Indian regulations, \u201cVinod Adani is part of the \u2018promoter group\u2019 of various listed entities within the Adani group.<\/p>\n<p>\u201d In response to Hindenburg questioning the role of Vinod Adani, 74, in the Adani group where it alleged \u201cbrazen stock manipulation and accounting fraud\u201d and use of offshore shell companies to inflate stock prices, the apples-to-airport conglomerate had in January said that \u201cVinod Adani does not hold any managerial position in Adani listed entities or their subsidiaries and has no role in their day to day affairs.<\/p>\n<p>\u201d \u201cWe reiterate that any transactions by the Adani portfolio companies with any related party have been duly identified and disclosed as related party transactions in compliance with Indian laws and standard and have been carried out on arm\u2019s length terms,\u201d it had said.<\/p>\n<p>Rajesh Gopinathan, Rajesh Gopinathan news, Rajesh Gopinathan latest news, Rajesh Gopinathan resigns, Rajesh Gopinathan quits, TCS, TCS news, TCS latest news, TCS CEO<\/p>\n<p>TCS CEO Rajesh Gopinathan resigns, K Krithivasan to take over Unicorns Vs Cockroach startups No unicorns in last 5 months; Cockroach startups to rule in 2023? Funding winter gets cooler, VCs shift focus<\/p>\n<p>Dukaan lay offs 80 employees across departments Dukaan lay offs 80 employees across departments Google, Google news, Google latest news, Google policies, NCLAT, CCI, startups Google policies restricting research by domestic startups: CCI to NCLAT<\/p>\n<p>Hindenburg Research had alleged that Vinod Adani was responsible for creating and managing a vast network of offshore shell entities meant for stock parking, market manipulation and laundering money, to help the conglomerate\u2019s companies maintain their appearance of financial health.<\/p>\n<p>The group has denied all Hindenburg allegations, calling them \u201cmalicious\u201d, \u201cbaseless\u201d and a \u201ccalculated attack on India\u201d. Vinod Adani is widely reported to be working out of Dubai in the United Arab Emirates.<\/p>\n<p>Regulatory filings show he is a Cypriot national. When Adani group bought Swiss giant Holcim AG\u2019s stake in Ambuja Cements and ACC, the deal was completed via a Mauritius-based entity called Endeavour Trade and Investment.<\/p>\n<p>In the filing, Adani group said the fact that Vinod Adani was part of the promoter group had been submitted to Indian regulatory authorities from time to time in various disclosures.<\/p>\n<p>\u201cFurther, the fact that Endeavour Trade and Investment Limited (an entity controlled by Vinod Adani), the acquirer of ACC Limited and Ambuja Cements Limited, belongs to the Adani group has been disclosed in the public offer document,\u201d it added.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/mauritius\">Mauritius<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Mauritius. Vinod Adani, the lesser-known elder brother of Adani Group founder Gautam Adani, is part of the promoter group, the conglomerate has said after questions were raised about his status following short seller Hindenburg Research naming him prominently in its scathing report on the Adani group. \u201cWe would like to submit that Gautam [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":27293,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[233,245,241],"class_list":["post-27294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-mauritius","tag-mauritius"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Adani Group says Vinod Adani part of promoter group amid ACC, Ambuja ownership question; Mauritius entity already disclosed - Mauritius<\/title>\n<meta name=\"description\" content=\"Vinod Adani, the lesser-known elder brother of Adani Group founder Gautam Adani, is part of the promoter group, the cong ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/adani-group-says-vinod-adani-part-of-promoter-group-amid-acc-ambuja-ownership-question-mauritius-entity-already-disclosed\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Adani Group says Vinod Adani part of promoter group amid ACC, Ambuja ownership question; Mauritius entity already disclosed\" \/>\n<meta property=\"og:description\" content=\"Vinod Adani, the lesser-known elder brother of Adani Group founder Gautam Adani, is part of the promoter group, the cong ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/adani-group-says-vinod-adani-part-of-promoter-group-amid-acc-ambuja-ownership-question-mauritius-entity-already-disclosed\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-18T08:31:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-18T09:32:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/03\/postQueueImg_1679115902.96.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/adani-group-says-vinod-adani-part-of-promoter-group-amid-acc-ambuja-ownership-question-mauritius-entity-already-disclosed#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/adani-group-says-vinod-adani-part-of-promoter-group-amid-acc-ambuja-ownership-question-mauritius-entity-already-disclosed\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Adani Group says Vinod Adani part of promoter group amid ACC, Ambuja ownership question; 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