Vinod Adani steps down from 3 companies linked to Australia coal mine

28 Apr 2023 CW Team

In late February, as questions mounted and Adani Group’s share prices plunged, Gautam Adani’s older brother Vinod stepped down as director of three companies — Carmichael Rail and Port Singapore, Carmichael Rail Singapore and Abbot Point Terminal Expansion — connected to the family’s coal mine in Australia, on which it has staked billions of dollars. He remains on the board of Singapore-based Abbot Point Port Holdings.

These resignations, which haven’t previously been reported, happened just days before the SC ordered a committee to probe if regulators had failed to oversee Adani Group. Meanwhile, Sebi is examining whether some transactions between the group and Vinod were properly disclosed.

An Adani Group representative said Vinod, aside from being a shareholder of certain entities, had no management role in the development of the Carmichael mine or its related infrastructure.

Hindenburg’s January 24 report said dozens of shell companies controlled by Vinod had moved billions of dollars in and out of Adani Group companies, seemingly to embellish shares and results. Adani Group acknowledged that Vinod is part of the promoter group and said it made all required disclosures. It largely rejected questions about the brother’s business affairs, saying they’re irrelevant given he’s not a manager at the group’s public companies or their subsidiaries.

Until recently, few had heard of Gautam’s 74-year-old brother. He’s believed to have made a fortune trading commodities and is worth at least $1. 2 billion. He runs a family investment office in Dubai. Over the years, he’s been involved in some of Adani Group’s largest undertakings, from acquisitions of cement companies to green energy. Carmichael is one of the longest-running examples.

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..