Why doesn’t Adani disclose potential conflict of interest?8 min read 19 Jun 2023, 12:12 PM IST
India's regulations around disclosing related-party transactions have been frequently tweaked over the past eight years. However, there are concerns that the spirit of the law is not filtering into corporate behaviour.
It is no secret that most Indian firms starting off as family-run businesses never outgrow their past. Even after they become large and go public, the controlling shareholders, their kith and kin and their private firms are usually the first port of call as suppliers, contractors, advisers and buyers, often to the detriment of minority investors.