Adani’s Brother Plays Opaque, Powerful Role at Embattled Dynasty
- Filings show Vinod Adani is a key figure in Adani Group
- Vinod doesn’t hold managerial role in listed Adani entities
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In August, as India’s Adani Group neared the completion of its $10.5 billion purchase of two cement businesses, the conglomerate and its banks put out some particularly complicated filings.
On page 21 of an 85-page document was a diagram of seven unlisted firms registered in the British Virgin Islands, Mauritius and Dubai. They were interlinked to each other, and one would be buying the cement company’s shares in the open market.