Adani, the Indian multinational corporation, has been cleared of illegally routing money to tax havens by India’s customs authority. The case was founded on allegations that one subsidiaries of the group inflated power plant equipment prices via the Dubai firm Electrogen Infra. Further fraud allegations involving sums of approximately INR15bn ($234m) are still awaiting adjudication.
Adani, the Indian multinational corporation, has been cleared of illegally routing money to tax havens by India’s customs authority. The case was founded on allegations that two subsidiaries of the group inflated power plant equipment prices via the Dubai firm Electrogen Infra. Further fraud allegations involving sums of approximately INR15bn ($234m) are still awaiting adjudication.