Delhi HC Seeks CBI Report On Adani Case Closure

Delhi HC Seeks CBI Report On Adani Case Closure

Delhi HC has directed CBI to file an affidavit citing reasons for closing a preliminary enquiry initiated against Adani Group for overvaluation in the import of power plant equipment by Rs 6,000 crore. Prashant Bhushan had filed a PIL in the court seeking setting up of a SIT to probe overvaluation of power plant equipment and coal.

The HC has also asked CBI to file a status report on its probe into overvaluation of coal imports by NTPC and 40 other companies, which Directorate of Revenue Intelligence had probed. DRI has been investigating 40 companies including that of Adani in the cases pertaining to the overvaluation in the import of coal from Indonesia. The scam is pegged at Rs 29,000 crore.The DRI has alleged that the incidence of overvaluation of power plant and coal equipment has been passed on to the end user of electricity in the form of artificially inflated tariff.

The DRI adjudicating authority had dropped all charges against the Adani group in the Rs 6000 crore case, which is pending appeal before the Tribunal in Mumbai. The CBI had initiated a PE in this case which was later closed. Read More

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