Supreme Court Issues Notice to Adani Enterprises in ₹50 Crore Duty Fraud Case

Supreme Court Issues Notice to Adani Enterprises in ₹50 Crore Duty Fraud Case

The Supreme Court of India has issued a notice to Adani Enterprises Ltd. (AEL) in response to a plea filed by the Customs Department, which alleged that the company caused a loss of ₹50 crore in customs duty through the duty-free import of gold and silver.

Key Points of the Judicial Action

• Disputed Amount and Allegation: The Customs Department contends that AEL wrongfully claimed benefits under a duty-free scheme for the import of gold and silver, resulting in a revenue loss of approximately ₹50 crore. The core of the dispute involves alleged misapplication of the relevant duty-free import scheme.
• Challenge to Tribunal Order: The Customs Department’s plea challenges a prior ruling issued by the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), which had delivered a verdict favorable to Adani Enterprises.
• Supreme Court Notice: By issuing a notice, the Supreme Court has agreed to examine the matter and review the CESTAT order. This marks the beginning of the legal process at the apex court level to determine the final tax liability and the interpretation of the duty-free import regulations in this context.
• Significance: The case is significant for the trade and customs compliance sector, as it involves a major corporate entity and the interpretation of foreign trade schemes related to precious metals.