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CBI must probe Adani ‘power scam’: Congress

New Delhi, The Congress today demanded a Supreme Court-monitored CBI probe into a new revenue intelligence report that holds a subsidiary of Adani Enterprises guilty of over valuating electricity equipment to artificially inflate power tariffs at home.
Senior Congress spokesperson Ajay Makan, quoting from a May 2014 report of the Directorate of Revenue Intelligence said, “There was over-valuation of imported coal to the tune of Rs 29,000 crores, power plant equipment to the tune of Rs 9,000 crores and compensatory tariff awarded to the tune of Rs 10,000 crore. This comes to Rs 50,500 crore and this over invoicing means higher tariffs for people.”
The DRI report Congress quoted is about gross over valuation in the import of goods by Maharashtra Eastern Grid Power Transmission Company, a wholly owned subsidiary of Adani Enterprises. The report says, “Intelligence developed by Mumbai zonal unit of the DRI indicated that various entities of Adani group were indulging in gross overvaluation of imported goods (zero or low duty rated) to siphon off money abroad from public listed companies.”
Congress besides seeking a CBI probe in the matter also asked the Centre to immediately reduce the power tariff for consumers at the rate of Re 2 per unit, saying the over invoicing by Adani and 40 other firms the DRI is investigating has led to this inflated cost of power for people.
The Congress said it would soon petition the Central Electricity Regulatory Commission to order reduction in tariff on account of over invoicing of products by power companies. Asked why the Congress did not raise the alleged scam earlier since the DRI report dates back to May 15, 2014, Makan said the report had entered public domain only two days ago.
Makan was quoting from a publication of the DRI report in an international newspaper though he admitted that the UPA government had on February 5, 2013, initiated an inquiry into the practice of over-invoicing on import of electrical equipment and machinery by a subsidiary of Adani Enterprises.

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