The intelligence wing of the Indian Ministry of Finance, the Directorate of Revenue Intelligence (DRI), has raised allegations that a firm linked to Adani's infrastructure projects is owned by a Chinese national.
Allegations have been made by an Indian government investigative agency against part of the Adani Group. The companies concerned have been accused of ‘over-invoicing’, a practice in which goods are routed through an intermediary that artificially infates the price in order to create an improper advantage for the main company concerned. The alleged over-invoicing of imported equipment was said to have been undertaken by three companies: Adani Power Maharashtra Limited (APML), Adani Power Rajasthan Limited (APRL) and Maharashtra Eastern Grid Power Transmission Company Limited (MEGPTCL).
The allegations have been made by the Ministry of Finance’s Directorate of Revenue Intelligence (DRI), the intelligence wing of the Ministry. They are outlined in a show-cause notice&...
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