Sanjay Newatia, Ex-Credit Suisse Banker, Is a Director in 57 Adani Companies in UK: Quartz Report
Moneylife Digital Team 08 February 2023
On the Companies House database, which lists all registered firms in the UK, a search for “Adani” turns up 137 results. Several of these have nothing to do with Gautam Adani, the beleaguered Indian billionaire watching the market value of his conglomerate sink daily. 
 
But, according to a report from Quartz, 124 of these companies, all registered to a single address in the financial heart of London, are linked to the Adani empire. “Some of these companies have been dissolved, but 56 of them are active subsidiaries of a parent company called Adani Energy Holdings. In every one of them, including the parent firm, the sole director is Sanjay Newatia.”
 
The report says, “Newatia, a former Credit Suisse banker based in London, runs SKN Advisors, a “bespoke consultancy” for companies and ultra-wealthy individuals in the UK, India, and the Middle East. SKN last made news in 2021, when 11.9mn (million) documents leaked out of 14 offshore service providers in a cache called the Pandora Papers.” 
 
The Indian Express—one of the media outlets worldwide that examined the documents—linked Newatia to Niira Radia, a wealthy Indian lobbyist. At least a dozen offshore firms in the Pandora Papers were connected to Ms Radia, The Indian Express said, adding that she “has been conducting her offshore transactions through London-based Sanjay Newatia.”
 
According to Quartz, Mr Newatia was appointed to all of his Adani directorships in September 2021, days before the news investigations into the Pandora Papers broke. In a brief email to Quartz, an SKN spokesperson confirmed the details of Mr Newatia’s connections with the Adani subsidaries.
 
Mr Newatia did not comment on the Pandora Papers report of his work for Ms Radia…
 
Comments
Array
Free Helpline
Legal Credit
Feedback