Gautam Adani Archives - National Times

31 Jan

Gautam Adani, Nephew Agree to Accept SEC Legal Notice in US Civil Fraud Case

Rajeev Sharma0 CommentsBusiness, India, World NewsAdani Green Energy, bribery allegations, Gautam Adani, Sagar Adani, SEC lawsuit, US civil fraud case

New Delhi/New York (Rajeev Sharma): Billionaire industrialist Gautam Adani and his nephew Sagar Adani have agreed to accept service of a legal notice issued by the US Securities and Exchange Commission (SEC) in a civil fraud lawsuit, according to a court filing in the United States. The move, described as procedural in nature, is subject to approval by the court. In a joint filing submitted to a federal court in Brooklyn, New York, the SEC and US-based lawyers representing the Adanis confirmed that the defendants’ counsel has agreed to receive the regulator’s legal papers. This agreement removes the need for…

Gautam Adani Steps Down as Executive Chairman of APSEZ, Assumes Non-Executive Role

Rajeev Sharma0 CommentsBusinessAdani Group, APSEZ, Executive Chairman, Gautam Adani, Manish Agarwal, Non-Executive Chairman

Mumbai, August 6, 2025 – In a significant leadership shift, Gautam Adani has stepped down from his position as Executive Chairman of Adani Ports and Special Economic Zone (APSEZ), transitioning to the role of Non-Executive Chairman with effect from August 5. The move comes as part of regulatory compliance and corporate restructuring within the Adani Group.The company confirmed the decision in a regulatory filing, noting that Adani will no longer be considered a key managerial personnel (KMP) at APSEZ. The change aligns with the Companies Act, which restricts individuals from holding executive roles in multiple firms simultaneously. With APSEZ already…

Adani Green Energy Pulls Out of Sri Lanka Wind Power Projects

Rajeev Sharma0 CommentsBusiness, World NewsAdani Green, Gautam Adani, Sri Lanka, Wind Power Projects

Colombo, February 14, 2025 – Adani Green Energy, the renewable arm of billionaire Gautam Adani’s conglomerate, has withdrawn from two proposed wind power projects in Sri Lanka. The decision follows the new government's move to renegotiate tariffs. Withdrawal Cites Policy Changes In a statement, the company confirmed its exit, stating, “Adani Green Energy has conveyed its Board’s decision to respectfully withdraw from further engagement in the renewable energy wind project and two transmission projects in Sri Lanka.”The company had planned to invest $1 billion in wind power generation and transmission infrastructure. However, the newly elected administration under President Anura Kumara…