Adani group slapped with Rs 5,500 crore notice

NewsX 2019-03-01

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One day before it got decimated in the Lok Sabha elections at the hands of the BJP, the Congress-led UPA government gave a farewell shock to Ahmedabad-based Adani group by slapping Rs 5,500 crore show cause notice in a case of alleged "over-valuation" of capital equipment for power projects.

The Mumbai office of Directorate Revenue of Intelligence issued the notice to the group on Thursday, hours before the counting for the Lok Sabha polls was to begin. The development is significant because Congress vice president Rahul Gandhi, during his stump speeches, repeatedly attacked the Gujarat-based corporate and its head Gautam Adani for links to Narendra Modi, alleging Adani got land from his government for the price of a toffee.


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