Goa CBI arrests Rajesh Adani in Gujarat

GOANEWS DESK, PANAJI | 28 February 2010 11:40 IST

The Goa CBI arrested yesterday Rajesh Adani, Managing Director of Gujarat-based M/S. Adani Exports Limited, in Ahmedabad for causing loss to the exchequer to the tune of Rs 1.07 crore.

CBI' Anti-Corruption branch held him under the charge of undervaluation of imported naphtha and furnace oil. It was stored in bonded warehouse of M/S. Ganesh Benzoplast of Vasco in Goa.

Later, the Gujarat High Court ordered his release while granting him interim bail until 2 March. His matter would be now heard on Tuesday.

According to Adani's counsel, the CBI did not follow the SC guidelines and was arrested without a show cause notice.

Goa's CBI SP S.S. Gawali told media persons here that they had registered a criminal case also against 10 officials of Goa Customs and Central Excise, along with private parties.

Besides Adani's company, the CBI has also implicated  M/S. Ganesh Benzoplast Ltd. of Mumbai and CHA/clearing house firm M/S. J.A. F. Leitao & Son, Goa.

In 2005-06, according to CBI, 10 customs officials conspired with Adani and others to facilitate the import of two consignments of naphtha and furnace oil, by undervaluing it.

Rajesh Adani, the managing director of the Rs 26,000-crore Adani Enterprises Limited (AEL, is a youngest brother of Adani group chairperson Gautam Adani.

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