Vinod Adani quits three firms linked to Adani’s Carmichael mine in Australia

Vinod Adani, the brother of billionaire Gautam Adani, has reportedly resigned from three companies associated with the Carmichael mine in Australia. This move comes after allegations of wrongdoing were made against him and the Adani Group by US-based short seller Hindenburg earlier this year. The Adani Group denied these allegations, but an investigation has been ordered by the Supreme Court. Interestingly, Vinod Adani stepped down just days before the probe was ordered.

In addition to this, India’s market regulator, the Securities and Exchange Board of India(SEBI), is also investigating transactions between Adani Group and Vinod Adani to ensure that they comply with regulatory requirements. According to the Hindenburg report, Vinod Adani was implicated in fraudulent financial activities within his brother’s conglomerate.