Overseas probe against Adani firms revived as SC stays Bombay HC order

The Supreme Court has revived the revenue department’s bid to investigate billionaire Gautam Adani’s companies, which it claims got undue tax benefits by overvaluing coal imports.

A three-judge Bench headed by Chief Justice S A Bobde on Wednesday put on hold the Bombay High Court’s decision to quash all letters rogatory (LRs) sent by the Directorate of Revenue Intelligence (DRI) to Singapore and other countries. This will allow the revenue office to seek information on the case from overseas. The apex court also asked Adani Enterprises and Adani Power to submit their stance.

LRs are sent to investigative or judicial agencies in other countries when some information is required during a probe of off-shore entities.