Resolutions of two Adani Group firms run into IiAS veto

Proxy advisory firm Institutional Investor Advisory Services (IiAS) has raised red flags against resolutions of two Adani Group firms – Adani Transmission (ATL) and Adani Total Gas (ATGL) – including fixing the remuneration of Anil Sardana. The move comes ahead of ATL’s annual general meeting on July 19 and that of ATGL on July 18.

Sardana has been the managing director of ATL, since May 2018 and managing director of Adani Power (APL), another Adani Group company, since July 2018.