The Adani saga that rattled the Indian stock market over allegations of stock manipulation has now pitted two government agencies against each other. According to Economic Times newspaper, the Directorate of Revenue Intelligence (DRI) has challenged the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) in the Supreme Court regarding over-invoicing case against Adani Group’s two companies Adani Power Maharashtra (APML), and Adani Power Rajasthan (APRL).
The first day of India's biggest spectrum auction for 72 GHz (gigahertz) airwaves ended with four major telecom firms committing a total of Rs 1.45 trillion ($18.2 billion) for 5G airwaves.
Telecom minister Ashwini Vaishnaw on Tuesday said the bid amount exceeded the government’s estimates and added that the auction saw healthy participation between Mukesh Ambani-led Reliance Jio, Sunil Mittal’s Airtel, Vodafone-Idea, and a unit of Gautam Adani's flagship Adani Enterprises.