29.03.2023,Bhubaneswar.Barish kumar samantaroy.NEW DELHI: Adani Power got a clean chit from the Supreme Court, the Customs Department had claimed to show more value of capital goodsThe Supreme Court on Monday 27 March dismissed the appeal of the Customs Department against two associate companies of Adani Power. These include Adani Power Maharashtra Ltd and Adani Power Rajasthan Maharashtra Eastern Grid Power Transmission Company Limited (MEGPTCL).A bench comprising Justices Krishna Murari and Sanjay Karol, after hearing detailed arguments in the matter from both sides, dismissed the appeal filed by the customs department against APML, APRL and others.According to the counsel familiar with the development, the apex court found that the project cost of APML and APRL was either similar or lower than the price of peers/competitors.The counsel added that the price was lesser than the benchmark per megawatt cost fixed by Central Electricity Regulatory Commission (CERC) and the contract was an EPC contract awarded to the lowest bidder following worldwide bidding called International Competitive Bidding (ICB).Same way consortium led by PMC Projects (India) pvt. ltd., which was awarded the contract following ICB, imported goods for setting up of transmission line and substation package for Maharashtra Eastern Grid Power Transmission Co. Ltd. (MEGPTCL).The Directorate of Revenue Intelligence (DRI), in May 2014, issued show cause notices (SCNs) to APML, APRL, MEGPTCL and others alleging over-valuation in import of capital goods.In 2022, the appellate tribunal dismissed the plea filed by the customs department and confirmed that there was no overvaluation while importing the equipment by Adani.JaiHind.. JaiBharat..
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