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An investigation into allegations of tax evasion amounting to $400 million involving the Adani Group of India has been launched by the Anti-Corruption Commission (ACC).
The alleged evasion reportedly occurred through tax and duty exemptions granted under a power purchase agreement signed with the government when the Awami League was in power, according to reports from various news portals.
On Wednesday, Deputy Director of the ACC, Rezaul Karim, sent letters to the National Board of Revenue (NBR) and the Bangladesh Power Development Board (BPDB) to request all relevant documents related to the matter.
The ACC is also investigating the possible collusion of former Prime Minister Sheikh Hasina's principal secretary and then-power secretary, Ahmad Kaikaus, along with other officials of BPDB, in connection with the agreement.
An NBR investigation revealed that, as of July in the 2024-25 fiscal year, the Adani Group had allegedly evaded $397.37 million in duties and taxes on imported electricity.
The investigation also found that, during this controversial agreement, duty and tax exemptions were granted to the company by bypassing the proper authorities.
The coal-based Adani power plant, located in Godda, Jharkhand, India, has a total generation capacity of 1,600 megawatts, consisting of two units of 800 megawatts each. Under the directive of the Power Division, Bangladesh signed a 25-year power purchase agreement with Adani in 2017.