Addendum 1:

Forgot to mention these.

The DRI has alleged that money earned through #overinvoicing has been parked abroad in tax havens and is being round tripped back into India.

It cannot investigate this itself, the ED is the agency that investigates money stashed abroad under the Prevention of Money Laundering Act Ave the income tax department investigates tax fraud.

As far as I am aware, a handful of journalists across a few publications are covering it diligently. There have been multiple defamation suits due to articles on this subject alone.

However, the scandal has not gotten big yet. For some reason, of 10 scams that are reported, only 1 makes it big on primetime media. This is one of those that hasn't.

The power companies involved, together, supply electricity to over half of India. The #overinvoicing scandal has stolen all of our money.

35/n

In all, the DRI alleged, Rs 29,000 crore had been siphoned out of the Indian public's pocket by these companies through #overinvoicing

In March 2016, the DRI issued a "lookout" circular to customs authorities across the country, detailing this modus operandi, and listing the companies involved. This is that circular.

It was first reported here, in this story that made the circular public and named the companies for the first time. There were a few big ones.

https://www.epw.in/journal/2016/14/web-exclusives/how-over-invoicing-imported-coal-has-increased-power-tariffs.html

10/n

Covering Adani has become something of my beat, for over two years.

One major thread of this coverage has been of the #overinvoicing scandal, in which Adani is one of the main players.

This thread is to cover everything that is so far publicly known about the scam which is worth up to Rs 29,000 crore by a conservative calculation.

2/n