The terms of the appointment of the three are the same as the ones on which Ambani s wife Nita was appointed to the company board in 2014. She earned a sitting fee of Rs 6 lakh and a commission of Rs 2 crore in the 2022-23 fiscal year (April 2022 to March 2023), according to the company s latest annual report.
"Today, Adani group manages a portfolio of companies - 10 as of today. By 2033, there would be 14 or 15 of them. The promoters have an objective to hold a certain percentage of equity in the portfolio. So, when they recycle capital within the portfolio, it is an act of rebalancing," an Adani Group spokesperson told ET over email.
Succession planning is still evolving in Indian companies, with some patriarchs opting not to announce a successor due to doubts about the most suitable candidate or a belief in a natural succession process. Various trends are at play, including the appointment of family members to the board, selling businesses, creating family trusts, and dividing businesses among legal heirs.
Reliance Industries, India s largest company, may transform into a holding company with majority stakes in independent entities, according to CreditSights. The move would create a clearer distinction between divisions, unlock stakeholder value, and allow for diverse funding channels. Reliance Industries has previously expressed its intention to list its retail and telecom businesses over the next five years.
The company aims to pioneer the next generation of AI tools and technologies while ensuring ethical AI application training by combining human intelligence with automation. The launch of Ango Hub demonstrates iMerit s commitment to delivering solutions that meet customer demands and reduce time-to-market for AI projects.