In another major development, the Adani Wilmar Group has reportedly been raided by the State Excise and Taxation department. As per media reports, the GST officials have visited the offices of Adani Wilmar Group over allegations of GST violations.
As per Times Now, the raid on Adani Wilmar Group was carried out following allegations of not depositing GST. Further, the officials are reportedly seeking information about input tax credit claims of the company with respect to state operations.
According to other media reports, the raid on Adani Wilmar in Himachal Pradesh has been carried out over allegations that the GST has not been paid for last five years. The reports also claim that the officials reached the location and checked all the relevant documents. The final outcome of this visit is however, yet to be known.
The Gautam Adani-led Adani Group and its companies have come under special scrutiny following the Hindenburg Research report alleging fraud. From the Indian boruses to the international indices, many have raised eyebrows and kept a thorough check on Adani Enterprises, Adani Wilmar, Adani Ports and other companies, in all respects.
Recently, the Adani Group stocks also started reviving on the exchange(s) after witnessing a massive selling spree in a couple of trading sessions. Even the National Stock Exchange (NSE) placed few stocks of the Adani Group under the ASM framework to curb excessive volatility.
Disclaimer: This is a developing story. More details will be added once information is available. Please check back