When the Adani Group, in an astounding turnaround, publicly said that “the Adani Group and Vinod Adani should be seen as one", what should regulators do?
Although the Adani Group in its response to Hindenburg's allegations claimed that Vinod Adani, the business tycoon's elder brother, has no official role and is not a related party, investigations reveal something else.
Though the Adani Group claims Vinod has no role in the day-to-day affairs of listed Adani companies, Bloomberg says he is a "key negotiator" for the group when it is raising funds from international markets and is involved in "planning the group’s strategic direction".