Adani Group: Delhi HC orders CBI & DRI to investigate allegations of over-invoicing by companies including Adani, Essar Groups

Delhi High Court on Tuesday directed the CBI (Central Bureau of Investigation) and DRI (Directorate of Revenue Intelligence) to meticulously and expeditiously look into the allegations of over invoicing of coal imports and equipment by several companies, including Adani Group and Essar Group, and take action in accordance with law.

“This Court finds it appropriate to direct the respondents to meticulously and expeditiously look into the allegations of the petitioners to unearth actual factual position and take appropriate actions against the erring companies, if any, as per law,” the bench ordered.

In November, DRI sought to restart a probe into Adani Group for alleged overvaluation of coal imports and asked the Supreme Court to allow them to collect evidence from Singapore, a step they say the company thwarted for years, legal documents show.

The Directorate of Revenue Intelligence since 2016 has been trying to procure transaction documents related to Adani’s dealings from Singapore authorities. The agency suspects many of the group’s coal shipments imported from Indonesian suppliers were first billed at higher prices on paper to its Singapore unit, Adani Global Pte, and then to its Indian arms.