Elara: Boris Johnson’s brother resigns from the post of director of a firm related to Adani, know the reason.

Lord Joe Johnson has quit as non-executive director of the firm related to the canceled FPO of Adani Enterprises. He was appointed director of Elara Capital Plc in June last year. He resigned from his post on Wednesday after nearly eight months. Please tell that Lord Joe Johnson is the brother of former UK Prime Minister Boris Johnson. Elara, on the other hand, is a capital market trading company raising funds for Indian corporate groups.

This has been revealed by ‘The Financial Times’ newspaper citing UK Companies House records. He announced his resignation on the same day Adani Group announced the withdrawal of the FPO.

According to reports, Elara describes itself as a capital markets company, which works to raise funds for Indian companies. This company was also included in the bookrunner of the FPO. Joe Johnson insisted in his resignation that he had been given assurances about the good standing of the company. He resigned from the post of director ‘due to lack of knowledge in this field’.

It is also being said in the reports that the asset management business of Elara also came into the limelight after the US-based research company Hindenburg Research accused Adani group companies of fraud.