Gautam Adani’s billionaire brother, Vinod Adani, has reportedly begun to divest from some of his businesses as security concerns mount. Vinod Adani is the chairman of Adani Defence and Aerospace, which has been awarded several contracts by the Indian government.
According to sources, Vinod Adani has sold his stake in a logistics company. And has stepped down from the board of a power company. These moves are said to be part of a wider strategy to distance himself from his brother’s business empire and reduce his own public profile.
The Adani family has been facing increasing scrutiny and criticism in recent months over their business dealings. And their close ties to the Indian government. Protesters have accused the family of benefiting from favorable treatment and policies. While environmental groups have criticized their involvement in controversial projects such as the Carmichael coal mine in Australia.
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The security concerns facing the Adani family have also been on the rise. In February, a bomb scare was reported at the Mumbai office of Adani Ports and Special Economic Zone Ltd, one of the flagship companies of the Adani Group. The incident highlighted the vulnerability of the Adani businesses to potential threats.
Vinod Adani’s retreat from the public eye comes as the Indian government is reportedly reviewing the contracts awarded to Adani Defence and Aerospace. The review is said to be part of a broader effort to reduce reliance on imports and boost domestic manufacturing under the “Make in India” initiative.
The Adani Group has denied any wrongdoing or undue influence in the awarding of contracts, and has defended its record as a responsible corporate citizen. The group has also said that it will continue to invest in India and create jobs, despite the challenges and controversies it faces.
The Adani family is one of the wealthiest in India, with a net worth estimated at over $100 billion. The family’s businesses span a range of industries, from ports and logistics to energy and infrastructure. The family’s growing influence. And wealth have made them a lightning rod for criticism and controversy, and their future trajectory remains uncertain amidst the current turmoil.
