ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles by Paranjoy Guha ThakurtaSubscribe to Paranjoy Guha Thakurta

A Mega-merger and a Bureaucrat’s Transfer

The formation of India’s largest telecommunications group with Idea Cellular and Vodafone coming together indicates that Reliance Jio’s competitors are feeling the heat. The business rivals of Reliance Jio believe that the company influences policies and appointments. The Idea–Vodafone merger may lead to cartelisation which will not benefit consumers in the medium term.

Did Adani Group Evade ₹1,000 Crore Taxes?

The authors would like to clarify that the first paragraph in the “Conclusions” section (p 40) should have read as follows: “The DRI filed an appeal against the CESTAT order in the Supreme Court on 6 April 2016, which was eventually disposed of on 22 July 2016. The Ministry of Finance now has to file a review petition against this decision. The question that remains unanswered: what has dissuaded the ministry from filing this review petition even though more than five months have gone by?” This is the corrected version of the article. The corporate conglomerate headed by Gautam Adani has been accused by the Directorate of Revenue Intelligence of having allegedly evaded taxes and laundered money to the tune of around ₹1,000 crore while trading in cut and polished diamonds and gold jewellery. The DRI has claimed that companies in the Adani Group misused export incentives and indulged in high-velocity circular trading through a complex web of front companies located in different parts of the world. The government seems strangely reticent about fi ling a review petition in the Supreme Court that could protect its revenue interests.

GSPC: A Controversial Case Study

While the Bharatiya Janata Party claims the Congress has been trying to deflect allegations of corruption against it by highlighting controversies relating to Gujarat State Petroleum Corporation, the many allegations levelled against the management of this state government company are serious. The Oil and Natural Gas Corporation should think hard before deciding to partner GSPC.

A Call for Review: Supreme Court’s Decision on Reliance Jio

The Supreme Court has ignored evidence of apparent forgery and auction-rigging while dismissing a petition seeking to quash the government's decision permitting Reliance Jio to provide voice telephone services over fourth-generation spectrum. The company, headed by India's richest man, has also failed to meet its roll-out obligations. The apex court should review its decision.

Power Tariff Scam Gets Bigger at ₹ 50,000 Crore

The dimension of the scam relating to inflation of power tariffs by, among other things, over-invoicing imported coal has become considerably bigger. It has now come to light that electricity generating companies are seeking to obtain compensatory tariffs from regulators. In addition, particular firms in the Adani and Essar Groups have allegedly over-invoiced imports of equipment. The total size of the scam is currently estimated at ₹ 50,000 crore, if not more.

Power Tariff Scam Gets Bigger at Rs 50,000 crore

The dimension of the scam relating to inflation of power tariffs by, among other things, over-invoicing imported coal has become considerably bigger. It has now come to light that electricity generating companies are seeking to obtain compensatory tariffs from regulators. In addition, particular firms in the Adani and Essar Groups, have allegedly over-invoiced imports of equipment. The total size of the scam is currently estimated at Rs 50,000 crore, if not more.

From the Editor

To have the honour and privilege to step into the position held for nearly 12 years by Dr C Rammanohar Reddy is daunting and challenging. To have received such a gracious welcome by so many members of the extended family of which I am now a part is extremely gratifying. At the same time,...

How Over-invoicing of Imported Coal Has Increased Power Tariffs

Forty of India's biggest energy companies are being investigated by a wing of the Union Ministry of Finance for over-invoicing of imported coal. The artificially higher prices of coal have been passed on to electricity consumers across the country. The scam is conservatively estimated by government officials at no less than ₹29,000 crore, a third of which is in the form of higher power tariffs. Big names from the corporate sector, notably the Adani Group and Anil Dhirubhai Ambani Group, are being probed for their alleged involvement in the scandal. An exclusive report.

How Over-Invoicing of Imported Coal has Increased Power Tariffs

Forty of India's biggest energy companies are being investigated by a wing of the Union Ministry of Finance for over-invoicing of imported coal. The artificially higher prices of coal have been passed on to electricity consumers across the country. The scam is conservatively estimated by government officials at no less than Rs 29,000 crore, a third of which is in the form of higher power tariffs. Big names from the corporate sector, notably the Adani group and ADAG, are being probed for their alleged involvement in the scandal. An exclusive report.

Great Indian Gas Robbery

An independent consultant in an interim report has upheld the contention of the public sector Oil and Natural Gas Corporation that gas from one of its undersea wells in the Krishna-Godavari basin was consciously and systematically pilfered by a company controlled by Reliance Industries. Why did the Directorate-General of Hydrocarbons allow this to happen and why did the Government of India not protect the interests of a premier public sector undertaking?

The Business of Politics

A heady cocktail of politics, business emerges from the developments relating to one of India's biggest media conglomerates, the Chennai-based Sun group. The actions of different wings of the union government against Sun's owners, the politically influential Maran brothers, have raised a number of questions relating to allegations of breaking rules, taking advantage of proximity to power, economic offences and freedom of expression. These issues have, in turn, become embroiled in factional politics within the ruling Bharatiya Janata Party in New Delhi and in the Dravida Munnetra Kazhagam in Chennai, which is currently out of power both in the centre and in Tamil Nadu.

Greenpeace Ban: Violation of Rights

(The following are extracts from an open letter sent to the Minister of Home Affairs, Rajnath Singh, protesting against the decision to freeze Greenpeace India’s accounts.) The move by the central government to freeze Greenpeace India’s bank accounts and block sources of funds, is a blatant...

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