The Supreme Court has dismissed the customs department appeal against Adani Power Maharashtra Ltd. (APML), Adani Power Rajasthan Ltd. (APRL) and others in alleged over-valuation of imported goods matter.
A bench comprising Justices Krishna Murari and Sanjay Karol, after hearing detailed arguments in the matter from both sides, dismissed the appeal filed by the customs department against APML, APRL and others.
According to the counsel familiar with the development, the apex court found that the project cost of APML and APRL was either similar or lower than the price of peers/competitors.
The counsel added that the price was lesser than the benchmark per megawatt cost fixed by Central Electricity Regulatory Commission (CERC)
