Ex-UK PM's brother resigns from Adani-linked firm

February 03, 2023 08:15

Lord Jo Johnson, younger brother of former British prime minister Boris Johnson, has resigned his non-executive directorship of a UK-based investment firm linked with the now-withdrawn Adani Enterprises Follow-on Public Offer (FPO).

'The Financial Times' newspaper referenced UK Companies House records to reveal that 51-year-old Lord Johnson had been appointed as a director of London-based Elara Capital Plc in June last year and resigned on Wednesday, the day when the Adani Group announced the withdrawal of the FPO.

Elara, which described itself as a capital markets business raising funds for Indian corporates, was among the bookrunners on the FPO.

Johnson insisted he has been assured of the company's "good standing" and has stepped down due to his own lack of "domain expertise". -- PTI

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