Adani Cement Company fined ₹23 croreThe Income Tax Department has penalized ACC Cement, owned by Gautam Adani, ₹23.07 crore for underreporting income in the financial years 2015-16 (₹14.22 crore) and 2018-19 (₹8.85 crore). ACC, a subsidiary of Ambuja Cement (50% Adani owned), intends to appeal the penalties. Adani Group acquired Ambuja Cement and ACC from Holcim Group in September 2022 for US$6.4 billion. ACC's recent annual report indicates revenue of ₹21,762 crore in fiscal year 2025. Generated by AI