Who is Sagar Adani, the nephew of Gautam Adani, against whom an arrest warrant has been issued in US?
Sagar Adani started his career in the Projects Division of the Adani conglomerate and is credited with building the entire solar and wind portfolio of Adani Green Energy. Sagar Adani joined the Adani Group in 2015 after graduating in Economics from Brown University, USA.
The US Department of Justice (DoJ) has issued arrest warrants against Adani Group Chairman Gautam Adani and his nephew Sagar Adani in connection with an alleged bribery and fraud case related to an Adani Green Energy project in India. The DoJ has accused the Adani Group of misleading investors by making false statements to Indian stock exchanges, NSE and BSE, violating SEBI¡¯s Listing Obligations and Disclosure Requirements (LODR).
CREDIT: REUTERS
Who is Sagar Adani
Sagar Adani is the son of Rajesh Adani, the younger brother of Gautam Adani, and currently serves as an executive director at Adani Green Energy.
According to the company's website, Sagar Adani started his career in the Projects Division of the Adani conglomerate and is credited with building the entire solar and wind portfolio of Adani Green Energy. Sagar Adani joined the Adani Group in 2015 after graduating in Economics from Brown University, USA. The 30-year-old oversees organisation building as well as all strategic and financial matters of Adani Green Energy.
CREDIT: beehiiv
Sagar Adani, one of the potential successors of Gautam Adani
Sagar Adani is also one of the four Adani family members who have been groomed to take over the business once Gautam Adani retires. In an August interview with Bloomberg, 62-year-old Gautam Adani said that he planned to retire at the age of 70.
His two sons, Karan Adani and Jeet Adani, and their cousins, Pranav Adani, the son of Vinod Adani, and Sagar Adani, the son of Rajesh Adani, are expected to lead the business through a family trust. All four of them are said to have an equal share in the family trust.
Also read: Gautam Adani charged in US with bribery: All you need to know about the case
CREDIT: X/ PRANAV ADANI
Charges against Sagar Adani
Sagar Adani and others have been indicted for orchestrating a $265 million bribery scheme involving payments to Indian officials for favourable solar power contracts. According to reports, evidence of criminality was seized from Sagar Adani's electronic devices during the investigation.
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Bobins Abraham is the Assistant News Editor at Indiatimes. He has more than twelve years of experience in TV and digital journalism. An avid student of history and geopolitics, he is a conservationist and environmentalist at heart. He writes on environment, sustainability, human-animal conflict and more.
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