
Adani Group has been accused of fraudulent practices involving the sale of low-grade coal as high-value coal to TANGEDCO, causing significant financial losses and environmental damage. Reports indicate that Adani purchased coal from Indonesia at $28 per metric ton, which was then sold in India at $91.91 per metric ton after being falsely labeled as higher quality. This practice, which dates back to January 2014, resulted in a loss of Rs 3,000 crores ($360 million) and increased pollution due to the use of lower-grade coal. The Directorate of Revenue Intelligence (DRI) has previously identified similar overcharging schemes by Adani. The fraudulent activities have led to a total overpayment of $70 million by the Indian public, according to allegations by Indian authorities. This scandal occurred during the tenure of the Congress-led UPA government.
Another well-documented exposรฉ detailing more alleged fraud by Adani against the nation of India. Via the OCCRP and FT https://t.co/9ESudft4Up https://t.co/V116D5us0J
๐ฐ Adani Group accused of over-invoicing coal prices in January 2014 ๐ Not good news for Rahul Gandhi, as Congress-led UPA was in power at that time ๐ฌ๏ธ Adani accused of "fraudulently obtained bumper profits at the expense of air quality." https://t.co/BeqEErNIaK
People of India overpaid for high-quality coal but were inhaling more pollution from the low-grade coal they were sold. Adani pocketed the delta ๐totaling $70M says @FT: "The transactions fit a pattern of endemic fraudulent price inflation alleged by the Indian authorities" https://t.co/oJwGCax03x https://t.co/LMsrW3yby8




