The matter pertains to the alleged over-invoicing of imports and the sum involved is Rs 5,500 crore.
The DRI had accused Essar of using offshore entities to siphon Rs 2,900 crore through inflated invoices. So why has the directorate been kept out of the multi-agency group tasked with acting on the latest disclosures?
With the DRI’s adjudicating authority latest order, two show-cause notices issued by the customs intelligence agency in 2014 for alleged over-valuation of imports by Adani Group firms to the tune of Rs 5,467 crore have been dropped.
The adjudicating authority in the Directorate of Revenue Intelligence case on alleged over-invoicing of power equipment has evidently been sympathetic to the Adani group. But this is just one instance.
The adjudicating authority of the Directorate of Revenue Intelligence has struck down all proceedings against the Adani Group.
Directorate of Revenue Intelligence report shows how an Adani subsidiary allegedly used a Dubai-based front company to over-invoice imports and then move Rs 1,500 crore to a Mauritius-based firm controlled by Gautam Adani’s brother.
Despite the DRI’s allegations, the government seems strangely reticent about filing a review petition in the Supreme Court that could protect its revenue interests.
While the ministry provided information on a query on phone tapping five years ago, it refused to disclose facts when an application seeking the same information was filed last month.
The scam is conservatively estimated by government officials at no less than Rs 29,000 crore, a third of which is in the form of higher power tariffs.