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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Recent revelations point to his close involvement with the conglomerate’s key projects and entities even though he holds no official position in it.
Editor's note: The story of Vinod Adani continues to unravel. The elusive elder brother of Gautam Adani lives abroad, rarely appears in public forums and runs an empire of companies that have close dealings with the Adani group. As we reported in June last year, his relationship with the group has varied over the years, and defies a clear explanation. But in the months since, several new developments have taken place. In July, a tribunal dismissed a customs investigation that accused a Vinod Adani-run Dubai company of selling overpriced power equipment to subsidiaries of Adani Power in 2010, in what it alleged was a planned conspiracy with the Adani group to siphon funds out of India. In its defence, the Adani group companies had submitted that Vinod Adani was “not at all having any involvement with any Adani group of companies”. The tribunal held that since the sales took place after a competitive bid and the prices were equivalent to market rates, they were at an arm’s length and the question of Vinod Adani’s relationship with Adani Power’s promoters did not arise. …
The Adani group plans to spend Rs 1 lakh crore over the next five years to develop its airport business. While everything—including the funding—is sorted, a prolonged war could disturb the math.
NDTV and Network18 are now firmly loss-making—and show little urgency to fix the fundamentals.
The renewable energy firm’s profit plunges 99% to its lowest since 2020 as surging finance costs erase gains from record energy sales.
