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  1. Panama Papers leak: Why drag me in brother’s business, says Gautam Adani

Panama Papers leak: Why drag me in brother’s business, says Gautam Adani

Mr Vinod Adani who is the elder brother of Mr Gautam Adani has been a Non-Resident Indian (NRI) for about 30 years and has his own established business interests outside India".

By: | Updated: April 7, 2016 10:05 AM

Responding to The Indian Express report ‘2 months after Adani brother set up firm in Bahamas, a request to change name to Shah’, a statement released by the Adani Group stated that “the reported account holder — Mr Vinod Adani who is the elder brother of Mr Gautam Adani has been a Non-Resident Indian (NRI) for about 30 years and has his own established business interests outside India”.

“It is strange that Mr Gautam Adani’s name is mentioned in the headline though he is not the account holder and the story actually pertains to Indians having not legitimate bank accounts abroad. This is a deliberate attempt to draw Mr Gautam Adani’s name, not just to mislead the readers at large but mischievously sensationalising the matter,” it stated.

“Adani Group and the Indian resident family members of Adani family always conduct transactions within the framework of extant regulatory guidelines and provisions. We welcome the government initiatives to reach to the bottom of this matter pertaining to the black money trail including Panama leaks and assure our fullest cooperation in any kind of investigation for that matter,” it stated.

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