The group has long claimed that Vinod Adani had nothing to do with any of its companies. The Holcim deal is an example that this isn’t the case.
In one of India’s largest ever merger and acquisition transactions—the Adani group’s deal to buy out Swiss multinational Holcim's stake in Ambuja Cements and ACC—one name stands out: Vinod Shantilal Adani.
The elder brother of Gautam Adani, Asia’s second richest man, Vinod has been something of an enigma in the Adani group’s history. He is a citizen of Cyprus, a resident of Dubai and Singapore, and a director of dozens of companies and trusts spread across at least six countries, including tax havens Mauritius and the Cayman Islands.
He moved to Dubai in 1994, roughly a year after the group’s …
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.