The Customs Department had filed the appeal against Adani Power, accusing the company of overvaluing imported capital goods. The Supreme Court concluded that there was no overvaluation in the company's import of capital goods because Adani Power had stated a lower cost per megawatt (MW) than the benchmark set by the Central Electricity Regulatory Commission (CERC).

The Customs Department had appealed against Adani Power Maharashtra Ltd and Adani Power Rajasthan Maharashtra Eastern Grid Power Transmission Co. Ltd. (MEGPTCL) in a case of alleged overvaluation in the import of capital goods by the companies, but the Supreme Court dismissed the appeal on Monday, March 27.

Adani Power was the target of an appeal filed by the Customs Department, which alleged that it had overvalued imported capital goods. The SC concluded that there was no overvaluation in the company's import of capital goods because Adani Power had stated a lower cost per megawatt (MW) than the benchmark set by the Central Electricity Regulatory Commission (CERC).

A subsidiary of Adani Power, one of India's major private sector power producing businesses, is Adani Power Maharashtra Ltd. MEGPTCL is a partnership between the Rajasthani government and Adani Power.

"SEBI has earlier investigated the Adani Group, but it failed to protect investors as the group's market capitalisation unnaturally soared 1,000 percent in 3 years.

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