In 2015, an entity controlled by Gautam and Rajesh Adani acquired Sarguja Rail Corridor for Rs 58 crore, now sold to Adani Ports for Rs 5,000 crore in shares.
On 27 January, the Adani group received approval from the National Company Law Tribunal to restructure some of its corporate entities. The goal of the exercise, the company had said, was to consolidate all its railway assets under Adani Ports and SEZ Ltd, the listed entity looking after Adani’s ports and logistics businesses. The consolidation, which was proposed back in March last year and effective 1 April 2021, would help APSEZ “to participate in Indian Railways PPP projects without having to compete with similar businesses in the Adani portfolio, a position that is in full alignment with the equity interests …
Nihar Gokhale led the Chaos coverage at The Morning Context. Nihar wrote on the environment, the economy and resource conflicts in India. He has reported from across the country on everything from displacement, pollution and environmental violations to land regulation, corruption and human rights. He was earlier associate editor at Land Conflict Watch, and his work has appeared in Scroll, The Wire, IndiaSpend, The Caravan and Mongabay India.
Editor, Chaos
nihar@mailtmc.com
Delhi