Judicial rulings stymie probe into Adani over-invoicing allegations

/ Adani Group, Bombay High Court, CBI, coal imports, customs law, Delhi High Court, Directorate Revenue Intelligence, DRI, electricity tariffs, Gautam Adani, Hindenburg report, judicial rulings, Letters Rogatory, OCCRP, over-invoicing, power equipment, shell companies, Supreme Court India, Tax Havens, Vinod Adani

Adani Group companies have been accused of over-invoicing coal and power equipment by an Indian government agency and by the Hindenburg report. Over-invoicing is a practice in which the prices of imported goods are jacked up by an intermediary owned by the buyer. The inflated price is passed on to consumers or is subsidised by government, with the buyer able to pocket the difference. A blizzard of litigation has occurred over these allegations in India’s courts. In early 2024, rulings by the Supreme Court and the Delhi High Court appear to have shunted any effective investigation of these allegations off into the never-never.

Published by: Adani Watch
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