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Post-CBI case, Adani says complied with laws, denies wrongdoing

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New Delhi, Jan 18, 2020-

Responding to the case filed by the Central Bureau of Investigation (CBI), Adani Enterprises said on Saturday that it has complied with the process and relevant laws for the subject supply of coal.

“The company has not done anything wrong in supply of coal. It’s a preliminary investigation report only. The company shall respond to the same and shall also put forth the factual position to the authority,” according to an Adani spokesperson.

The Adani reply is in response to the lodging of an FIR by CBI against National Cooperative Consumer Federation and Adani Enterprises Ltd related to supply of imported coal. “The subject matter is an old one,” the Adani spokesperson added.

“Adani Enterprises Ltd has complied with the process, all formalities and relevant laws for the subject supply of coal”, the statement added.

The Central Bureau of Investigation (CBI) on Thursday had registered a case against former officials of the National Co-operative Consumer Federation (NCCF) and others over alleged irregularities in supply of coal to the Andhra Pradesh Power Generation Corporation (APGENCO) in 2010.

The CBI in its FIR has named Virendra Singh, the then Chairman of the NCCF, G.P. Gupta, the then MD of the NCCF, S.C. Singhal, the then Senior Advisor of NCCF, Adani Enterprises and other unknown public servants and others under sections of the criminal conspiracy, cheating and criminal misconduct by public servants.

According to the CBI, the case was filed after the preliminary enquiry revealed the crime by the officials named in the FIR and the Adani Enterprises was found to be true.

The FIR alleged that on June 26, 2010, APGENCO floated a tender enquiry for supply of six lakh metric tonnes of imported coal on free on rail destination basis to Narla Tata Rao Thermal Station (NTTPS), Vijaywada and Rayalasaleema Thermal Power Plant (RTTP), Kadapa, Andhra Pradesh/RTPP via Kakinada-Vizag-Chennai-Krishnapatnam or any other ports and the same was forwarded by the Chief Engineer, APGENCO to seven PSUs namely PEC Limited, STC Limited, MSTC Limited, NCCF, MMTC, Coal India Limited and SCCL Limited.

The FIR alleged that during the probe, the Adani Enterprises used proxy company to get the supply contract.

It said, “NCCF received bids from six companies — Adani Enterprises Ltd, Maheshwari Brothers Coal Limited (MBCL), Vyom Trade Links Pvt. Ltd, Swarana Projects Pvt. Ltd, Gupta Coal India Ltd and Kyori Oremen Ltd.

“Post tender negotiation was done by senior officials of NCCF to give undue favour to Adani Enterprises Ltd despite it did not qualify for the tender ,” the FIR said, adding that instead of cancelling the bid of Adani Enterprise Ltd. senior management of NCCF conveyed the offer margin to the company through a representative — Munish Sehgal, who was sitting in the NCCF head office.

“It is prima facie evident that when the bids were being processed at NCCF head office in Delhi, representative of Adani Enterprises was informed regarding their imminent rejection due to non-submission of NCCF margin and also that MBCL was eligible bidder quoted 2.25 per cent margin,” it alleged.

The CBI in FIR further alleged that Adani Enterprises had given an unsecured loan of Rs 16.81 crore to Vyom Trade Links Ltd in 2008-09. “And further it was revealed that the bank guarantees of the Adani Enterprises and Vyom Trade Links Ltd. were issues by the same branch of the State Bank of India and at the same time,” it said.

“It was clear that Adani Enterprises Ltd presented Vyom Trade Links Ltd. as a proxy company in this particular tender and Vyom Trade Links Ltd later withdrew its offer on flimsy ground,” the CBI FIR said.  (Agency)

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