The Supreme Court has reinstated tax notices worth ₹20,000 crore to ₹23,000 crore issued by the Directorate of Revenue Intelligence (DRI) against major companies including Vedanta, Vodafone Idea, Adani Enterprises, and Canon. This decision overturns a 2021 ruling that had limited the DRI’s authority to issue such notices.
Despite being the second richest person in India, Gautam Adani earns a significantly lower salary than his peers and even some of his own executives. His total remuneration for the fiscal year 2023-24 was Rs 9.26 crore, coming from only two companies in his conglomerate. This contrasts with other Indian billionaires like Mukesh Ambani, who has forgone his salary since the Covid-19 pandemic.
Gautam Adani, the founder of the Adani Group, and entities linked to the promoter group have increased their stake in Adani Enterprises through open market purchases. The acquisitions occurred between September 2023 and June 2024, with Adani raising his personal stake by 2%. This move bolsters the promoter group’s overall holding in the company to 73.95%. Despite a dip in Adani Group shares earlier this year, Adani Enterprises’ stock has rebounded, erasing losses from the Hindenburg Research report. The increase in promoter stake signifies confidence in the company’s prospects.
