ISSN (Online) - 2349-8846

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Circumventing Institutions: Did Chidambaram Subvert the Foreign Investment Promotion Board?

The raids on premises connected to former Union Finance Minister Palaniappan Chidambaram and his son Karti Chidambaram have attracted attention because of the allegations by the Central Bureau of Investigation, the Enforcement Directorate and Bharatiya Janata Party Member of Parliament Subramanian Swamy that the functioning of the soon-to-be defunct Foreign Investment Promotion Board was sought to be subverted. One major accusation against Chidambaram is that he manipulated the working of the FIPB to help the former Communications Minister Dayanidhi Maran in the Aircel–Maxis case. The EPW presents for the first time how this unusual deal was structured in a convoluted manner using preference shares.

Did Adani Group Evade ₹1,000 Crore Taxes?

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.

Adani Group Accused of Evading ₹1,000 Crore Taxes in Diamond Trade

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 filing a review petition in the Supreme Court that could protect its revenue interests.

Reliance Jio

Reliance Jio is disrupting the working of India's telecommunications industry by taking on incumbents like Bharti Airtel, Idea Cellular and Vodafone which together control almost three-fourths of the market for mobile voice and data services. Although some of its services are "free," RJio's pricing may not be considered predatory even if its behaviour certainly is.

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