Image Source: TwitterThe Himachal Pradesh state tax agency raided Adani’s facility in Parvanoo late Wednesday night, marking a significant development.
The action was conducted at Adani Wilmar Group’s C&F outlet in Himachal Pradesh. According to reports, the raid was carried out in response to the State Excise and Taxation Department’s charges of failing to deposit goods and services taxes (GST) for the previous five years.
When the team arrived, the Excise Department’s staff took inventory of the items in the godown and reviewed the required documentation. Notably, there are seven Adani-listed firms that operate in Himachal Pradesh, ranging from fruit cold shops to grocery stores.
This is the first raid on an Adani organisation in the state since Congress took office. It is worth noting that the Congress, along with other opposition parties, has been organising rallies in Parliament, calling for a Joint Parliamentary Committee (JPC) or Supreme Court-monitored investigation into the Adani case.
Notably, the entire controversy arose when the Adani company opted to cancel its Rs 20,000 crore FPO, claiming an “unusual scenario” and market instability. Hindenburg Research, a US-based short seller, produced a report on January 24 alleging that the Adani Group has weak economic fundamentals and was involved in stock manipulation and accounting fraud.
