Overvaluation of Indonesian coal, power equipment: Delhi HC to hear Prashant Bhusan’s plea today

“DRI is currently investigating over a dozen firms including a few Bhushan’s of the Adani Group, Essar Group, and Reliance ADAG Group among others for alleged over valuation of Indonesian coal imports and power equipment imports between 2011 and 2015.”

The high court is likely to hear today the PIL filed by Prashant Bhushan in the Delhi High Court on the alleged over-valuation of Indonesian coal and power equipment imports by some of the top firms in the country to the tune of Rs 20,000 crore.

According to the Directorate of Revenue Intelligence(DRI), overvaluation of power equipment and coal has the effect of artificially raising the tariff values fixed by the Central Electricity Regulatory Commission (CERC) or the respective state regulatory commissions. This ultimately affects the consumers as they end up paying a higher cost for consumption of electricity.

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