Delhi HC puts on hold order asking CBI, DRI to look into allegations of over-invoicing by Adani Power thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
A review petition filed by the revenue department against dismissal of its appeal last year is pending before the apex court. The case relates to the import of equipment/machinery by Adani Power Maharashtra and Adani Power Rajasthan (now both firms merged into Adani Power). The SC had last year upheld the Directorate of Revenue Intelligence s order dropping investigations against the two companies.
DRI had earlier told the HC that show cause notices have been issued in all cases of imports of capital goods/power equipment wherein investigation was carried out and also that some cases are pending adjudication and in some cases appeals have been filed. Letters Rogatory to Overseas Courts in Singapore, Dubai, Hong Kong, Switzerland & Indonesia to gather evidence and documents have been issued, however, since the process is time consuming and multiple countries are involved, all necessary steps have been taken by the DRI for expeditious completion of the same.
Between March 2015 and August 2016, the Mumbai zone of the Directorate of Revenue Intelligence had issued issued show-cause notices (SCNs) against several Essar Group companies. . The agency said investigations showed the group allegedly siphoned off funds abroad through GSF, an intermediary in the UAE, which was controlled and managed by the Ruia family through the ultimate holding company of the Essar Group.
Mumbai News: DRI Move Customs Tribunal In Essar Group Case freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.