India probes Adani Defence for tax evasion on missile parts imports, sources say

Indian authorities are investigating Adani Enterprises' defence unit for evading import taxes on components used to make missiles, two government sources with direct knowledge said, marking the newest regulatory scrutiny of the group. Adani Defence Systems and Technologies is one of the smaller businesses of the coal-to-airports conglomerate of billionaire Gautam Adani. It makes defence equipment like missiles, drones and small arms, mostly for Indian security forces. India's Directorate of Revenue Intelligence started investigating Adani Defence in March for evading tariffs of 770 million rupees ($9 million) in importing some missile components by wrongly claiming that they were exempt from customs duties and tax, according to the two government sources and a document detailing the case that was reviewed by...