Adani/Torrent agree employee poaching truce

Adani Gas has persuaded its Ahmedabad-based rival Torrent Gas to stop poaching its staff, at least temporarily.

And it seems Torrent has agreed to stop poaching staff from Adani Gas. No formal agreement is in place, but informally the two CGD companies have decided not to recruit employees from the other.

"I heard this was agreed during a high-level meeting when we agreed to give Jaipur to Torrent and withdraw our case," reveals an Adani source. Adani Gas is owned by Gautam Adani and headed by chief executive officer Suresh Manglani, appointed in September 2018.

Torrent Gas is led by managing director Jinal Mehta, son of chairman and owner Sudhir Mehta. In April (2021), Adani dropped its legal challenge against Torrent, ceding Jaipur and neighbouring Alwar district, which Torrent won under CGD-IX, despite Adani holding a No Objection Certificate (NOC) from the Rajasthan state government dated March 20 (2006).

In return, Adani succeeded in securing a 'no poaching' deal with Torrent from June (2021) to June (2022). "They agreed in April (2021), but since Torrent had already issued offer letters to some Adani employees, it came into force from June (2021)," adds our source.

"My feeling is it (the deal) will last longer than a year." Over the last three months, both companies have seen around 20-25 employees resign, but none went to either Adani or Torrent.

"Around ten employees resigned in the last two months," admits a Torrent source. "Most joined AG&P or Think Gas."

An Adani employee confirms a similar brain drain. "Around 10-12 employees have left," he adds.

"Most joined AG&P, Think Gas or other smaller CGD companies." Adani Gas employs around 450 employees, while Torrent employs more than 500; approximately 70 sit in its Ahmedabad corporate office and about 450 at other locations.

Adani holds 18 licences: 13 from CGD-IX, two from CGD-X and three from earlier rounds. Torrent won 10 areas in CGD-IX, followed by another three in CGD-X.