02 May 2015

Adani gilded lily is far from rolled gold

Adani Mining in Australia is owned by an Adani company in Singapore, which is in turn owned by an Adani company nestling off the coast of West Africa in La Republique de Maurice.

"Are you aware of the effective tax rates in Mauritius," Adani's financial controller was asked in court. "No, I don't know," replied Rajesh Gupta.

"I suggest it's 3 per cent," said the interrogating lawyer.

Gupta: "OK."

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