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Lord Johnson, 51, was appointed director of London-based Elara Capital in June last year and resigned on Wednesday, The Financial Times reported, citing UK Chamber of Companies figures. On the same day, Adani Group decided to withdraw the FPO.
Lord Joe Johnson, the younger brother of former UK Prime Minister Boris Johnson, has resigned as a non-executive director of British investment firm Adani Enterprises. Adani Enterprises has announced the withdrawal of its Rs 20,000 crore Follow-On Public Offering (FPO) just yesterday. Lord Johnson, 51, was appointed director of London-based Elara Capital in June last year and resigned on Wednesday, The Financial Times reported, citing UK Chamber of Companies figures. On the same day, Adani Group decided to withdraw the FPO.
Elara describes itself as a capital markets firm that works to raise funds for Indian companies. This company was also included in the FPO bookrunner. Johnson insisted that he had been given assurances about the company’s standing and that he resigned as director “due to his lack of knowledge in this area.” According to the newspaper, Elara’s asset management business came under the spotlight after US-based research firm Hindenburg Research accused Adani group companies of fraud.
Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
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