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On April 13, 2021, the Adani Group’s emblem is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India. REUTERS/Amit Dave/File Photo/File Photo REUTERS/Amit Dave/File Photo/File Photo MELBOURNE, VICTORIA, 6 JULY (Reuters) – Glass Lewis, a proxy advisory firm, has advised Adani Enterprises Ltd (ADEL.NS) shareholders to vote out a member of the board’s risk committee. After an Australian court determined Adani Abbot Point Terminal Pty Ltd, a coal export terminal in Queensland, engaged in monopolistic business activities in August, Glass Lewis indicated it was making the suggestion. It gave a total of A$107 million ($80.7 million) to four enterprises who utilised the terminal. The Abbot Point Terminal, however, is a different firm from Adani Enterprises, according to an Adani representative. Adani Ports and Special Economic Zone Ltd owns the port operator (APSE.NS). Pranav Adani, the nominee, is the only member of Adani Enterprises’ risk committee who is up for re-election at the company’s annual general meeting on July 12. Bravus Mining & Resources, an Australian subsidiary of Adani Enterprises, is building the Carmichael mine in Queensland to sell thermal coal to India, a controversial project due to global warming concerns. Abbot Point Terminal will be used to transfer the coal. (1 Australian dollar = 1.3259 dollars) Melanie Burton contributed reporting, and Edwina Gibbs edited the piece. The Thomson Reuters Trust Principles are our standards./nRead More

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