Adani: Supreme Court rejects custom’s plea on the alleged overvaluation of imported goods
“We have heard Balbir Singh, Additional Solicitor General appearing for the appellant(s), and Mukul Rohatgi, senior counsel appearing for the respondents, at length. We are of the considered opinion that the matters are concluded by the findings of fact recorded by the authorities below and the impugned order(s) does not require any interference at our behest. The appeals accordingly stand dismissed,” a bench comprising Justices Krishna Murari and Sanjay Karol ordered.
He said the price was lower than the benchmark per-megawatt cost fixed by the Central Electricity Regulatory Commission (CERC) and the EPC contract was awarded to the lowest bidder following a worldwide bidding process called International Competitive Bidding (ICB).
The top court upheld the findings of both the lower authorities — the adjudicating authority as well as the appellate tribunal — and confirmed that there was no overvaluation in the import of capital goods.
The Adani firms had imported goods required to set up thermal power projects in Maharashtra and Rajasthan.
The adjudicating authority of the DRI, which had earlier issued the show-cause notices, held in 2017 that all the imports were genuine and concluded that the value declared was correct and did not require to be re-determined. Subsequently, the notices were dropped.
In 2022, the appellate tribunal dismissed the customs department’s plea and confirmed that there was no overvaluation when the equipment was imported by the Adani firms.