The business daily Mint reported that not a single Adani company features among India’s top corporate taxpayers, with Tata Consultancy Services (TCS) paying the most.
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Gautam Adani was once among the world’s richest people, before allegations of corporate fraud leveled by Hindenburg Research halved the value of his conglomerate. His companies pick up plum contracts in diverse sectors in India: mining, green energy, shipping, aviation, and power, among others.
One might, therefore, expect Adani’s companies—his flagship Adani Enterprises, in particular—to be among the top corporate taxpayers in India. But no Adani firm even features in the top 10.
In 2022, Tata Consultancy Services (TCS) paid more tax than any other Indian company, followed by Reliance Industries and the software giant Infosys, the business daily Mint reported over the weekend. While TCS’s total tax bil for the fiscal year ending March 2022 stood at $1.4 billion, Adani Enterprises paid a mere $58.3 million during the same period.
An FIR by CBI relating to the alleged conspiracy to rig the coal import tender floated by APGENCO was lodged in India’s capital, New Delhi, which implied Adani’s connection to China in the coal-procurement scam.
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