ADANI GROUP MD, RAJESH ADANI ARRESTED FOR TAX EVASION; RELEASED ON BAIL

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THE CBI has arrested Rajesh Adani from Ahmedabad for alleged evasion of customs duty. Rajesh Adani belongs to the promoter family of the Rs 30,000-crore diversified conglomerate, Adani group. He was arrested by the Goa wing of the CBI in connection with an investigation into non-payment of customs duty of Rs 80 lakh on import of naphtha worth Rs 50 crore, in 2007-08.

However, he was released on interim bail from the Gujarat High Court. Justice Rekha Doshi granted interim bail on the basis of habeas corpus. Sources said that the group has already consulted legal experts who are working on the earliest release of Mr Adani and represent the case before the appropriate authorities. Soon, Mr Adani would present himself before a court in Goa for further proceedings.

The anti-corruption branch of CBI also registered cases against Adani Exports and Ganesh Benjoplast. An Adani Group spokesman said, “Mr Adani was not responsible for any day-to-day business operations. The company is surprised and is pursuing the matter with the assistance of its legal counsel. Till date no show cause notices or cases have been registered by the customs department against Adani Enterprise or Mr Adani in respect to these transactions. On February 27, CBI issued an arrest memo for Mr Adani without providing any reasons or details.”

Two CBI officials from Goa along with local team members arrested Mr Adani from his residence. Mr Adani was taken to Gandhinagar Civil Hospital for health check up where he complained of high blood pressure. However, he was moved from Gandhinagar after he recovered and was produced before the metropolitan judge for transit remand. He was taken to Goa and CBI is expected to produce him before the local CBI judge.

It is learnt that CBI is also probing role of eight custom officials based at Goa and Mumbai in the transaction under the scanner. According to sources, the alleged duty evasion involves charges of mis-declaration and falsifying information to evade duty among others and it could not have been possible without the role of senior customs department officials. CBI is expected to arrest the customs officials too.

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