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Power & Energy - December 20, 2023

Delhi directs CBI to probe allegations against Adani

International Desk: The Delhi High Court on Tuesday directed the Central Bureau of Investigation (CBI) to probe the allegations against the Adani group. Adani Industrial Group has been accused of overstating the cost of imported coal.

A public interest case was filed in the court regarding this. On Tuesday, the Delhi High Court issued the same directive to the Directorate of Revenue Intelligence (DRI) as well as the CBI.
Apart from the Adani Group, several other companies including the Essar Group have also been accused of the same. A similar investigation has been ordered against those companies.
A report on Adani Group’s coal imports was recently published in the Financial Times. It says that the Adani group imported $5 billion worth of coal from abroad at double the market price.
The report also claimed that the Adani Group had overstated the cost of its imported coal on paper.
The price of a coal ship when it leaves Indonesia is said to be double the price after the ship reaches India.
The price of electricity is fixed based on the price of that coal. That is, as a result, the common citizens of the country have to pay extra electricity prices.
Two public interest cases have already been filed in the Delhi High Court regarding this. During the hearing of the cases on Tuesday, the Delhi High Court ordered the CBI and DRI to investigate.
Directing the investigation to the CBI, the judge said, if the evidence against the accused organizations is found, then necessary action should be taken.

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