https://sputniknews.in/20251007/adani-rejects-western-media-report-alleging-govt-probe-over-defence-imports-9883230.html
Adani Rejects Western Media Report Alleging Govt Probe Over Defence Imports
Adani Rejects Western Media Report Alleging Govt Probe Over Defence Imports
Sputnik India
"Reuters has very selectively used the portions which suited the story, which was in fact a non-story to begin with, and omitted the portions which would have... 07.10.2025, Sputnik India
2025-10-07T20:10+0530
2025-10-07T20:10+0530
2025-10-07T20:10+0530
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Indian billionaire conglomerate Adani Group has rejected a media report claiming that its subsidiary Adani Defence Systems and Technologies Limited (ADSTL) has been facing a probe by Indian authorities for evading taxes on importing missile-making components.The report by Reuters claims that the Directorate of Revenue Intelligence (DRI), which reports to the Indian Finance Ministry, began a probe against ADSTL in March for misclassifying certain missile component imports as long-range instead of short-range in order to save tariffs to the tune of $9 million.However, an Adani Spokesperson dismissed the report.The statement noted that ADSTL had signed a contract for the supply of missiles in accordance with the prevailing rules and procedures. It further stated that the company was granted a Customs Duty Exemption Certificate (CDEC), which it used to import parts, spares, and tools for the missiles.“The Customs Department cleared the goods after verifying all associated documents and approvals,” the statement added.The Reuters story noted that Adani Defence had imported around $70 million worth of defence spares from Russia, Israel and Canada since last January.
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Adani Rejects Western Media Report Alleging Govt Probe Over Defence Imports
"Reuters has very selectively used the portions which suited the story, which was in fact a non-story to begin with, and omitted the portions which would have set things right," an industry source aware of the matter told Sputnik India.
Indian billionaire conglomerate Adani Group has rejected a media report claiming that its subsidiary Adani Defence Systems and Technologies Limited (ADSTL) has been facing a probe by Indian authorities for evading taxes on importing missile-making components.
The report by Reuters claims that the Directorate of Revenue Intelligence (DRI), which reports to the Indian Finance Ministry, began a probe against ADSTL in March for misclassifying certain missile component imports as long-range instead of short-range in order to save tariffs to the tune of $9 million.
However, an Adani Spokesperson dismissed the report.
"The issue stands closed from our end," the Spokesperson said in a statement.
It reads that the Indian Finance Ministry had amended the import rules last September, which mandated that no duties were to be paid on import of missiles and parts, sub-systems, tools and accessories of missiles.
The statement noted that ADSTL had signed a contract for the supply of missiles in accordance with the prevailing rules and procedures. It further stated that the company was granted a Customs Duty Exemption Certificate (CDEC), which it used to import parts, spares, and tools for the missiles.
“The Customs Department cleared the goods after verifying all associated documents and approvals,” the statement added.
"As a post-facto, the Department of Revenue Intelligence (DRI) sought clarifications, based on their interpretation of the notification. The clarifications have been provided with supporting documents," the statement underlined, also stressing that the matter had been resolved following the clarification.
The Reuters story noted that Adani Defence had imported around $70 million worth of defence spares from Russia, Israel and Canada since last January.
