Vinod Adani part of promoter group: Adani Enterprises

The Adani conglomerate had in January said that “Vinod Adani does not hold any managerial position in Adani listed entities or their subsidiaries and has no role in their day to day affairs.”

Vinod Adani is widely reported to be working out of Dubai in the United Arab Emirates. Regulatory filings show he is a Cypriot national. (File)

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Vinod Adani, the elder brother of Adani group founder Gautam Adani, is part of the Adani promoter group, the group’s flagship Adani Enterprises said.

“We 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,” the company said in a stock exchange filing on Thursday.

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Accordingly, as per the applicable Indian regulations, Vinod Adani is part of the ‘promoter group’ of various listed entities within the Adani group, the filing said. “This fact has been submitted to Indian regulatory authorities from time to time in various disclosures,” it said.

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Further, the fact that Endeavour Trade and Investment Limited (an entity controlled by Vinod Adani), the acquirer of ACC and Ambuja Cements Ltd, belongs to the Adani group has been disclosed in the public offer document, the company said. Vinod Adani is based in Dubai.

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The group had in January said that “Vinod Adani does not hold any managerial position in Adani listed entities or their subsidiaries and has no role in their day-to-day affairs.” “We 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’s length terms,” it had said.

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