Committee to probe tax issues in Adani power import deal from Sunday
Online Desk
The Customs Intelligence has formed a committee to start investigating Sunday potential duty-related irregularities committed when importing electricity from India’s Adani Power.
The eight-member committee would launch its probe on Sunday targeting issues including the duty-related sections in the original power purchase deal and provision for lessening or exempting import duties.
The probe report has to be submitted within 30 days, and the committee can include new members to smoothly complete its tasks.
Adip Billah, joint director of Customs Intelligence and Investigation Directorate, leads the probe committee.
There are allegations that the ousted Awami League government agreed to import electricity from Adani Power at a higher than market rates to please Indian Prime Minister Narendra Modi, the political ally of Gautam Adani. Gautam Adani is the head of the multinational Adani Group, the parent of Adani Power.
Adani, alleged by a US firm over stock market rigging, reportedly doubled its profit in just three months since starting supplying electricity to Bangladesh in March last year.
