1 Mar 2023. New Delhi, India The Indian government granted an extraordinary favour to controversial tycoon Gautam Adani, boosting his coal business, documents reveal. After Prime Minister ...
Finance Minister Nirmala Sitharaman appreciates SBI for successfully launching direct LankanIndian Rupee trade; India 'bright spot' amid despondency and churn in geopolitical landscape: Army ...
In the new fiscal year that began April 1, Indian power plants are expected to burn about 8% more coal. The rapid acceleration in India's coalfired output to address a spike in power demand underscores challenges faced by the world's third largest greenhouse gasemitter in weaning its economy off carbon, as it attempts to ensure energy security to around billion Indians.
DRI, Indian Coast Guard seize over 32 kg gold worth ₹ crore in two cases in Tamil Nadu. 1 min read 01 Jun 2023, 09:20 PM IST Join us. Staff Writer.
The DRI alleged that in certain cases, the import value of Indonesian coal was artificially inflated by about 50 to 100 per cent by changing test reports which measure the calorific value of coal. Artificial inflation of value of the imported coal increases the landed cost of coal, which is a primary fuel in coal fired thermal power plants. The ...
The case pertains to allegations of the DRI that a wholly owned subsidiary of Knowledge Infrastructure in Singapore first bought the coal from a Switzerlandbased firm and then the same consignment was sold to two intermediary firms, which then "dispatched the coal to the Indian firm". In these transactions, the price of coal sold by the ...
The Directorate of Revenue Intelligence (DRI) has decided to get strict with SBI and Bank of Baroda for hiding evidence against corporate entities involved in the Rs 29,000 crore coal import scam and not cooperating in the investigation against them. Listen to Story Share Advertisement Picture for representational purpose only.
In 2014, the DRI issued a showcause notice to APML and APRL alleging the overvaluation of imported coal. The DRI alleged that the import invoices of Indonesian coal were routed through intermediaries based in Singapore, Hong Kong, Dubai and the British Islands to artificially inflate its price. The DRI's adjudicating dropped the ...
State Bank of India, ICICI Securities and Reliance Capital Asset Management have been selected to manage the provident fund corpus of the workers of coal industry, amounting to around Rs 75,000 crore. The Coal Mines Provident Fund Organisation (CMPFO) gave the mandate to the three fund managers and allotted equal corpus to the three of them.
The LR documents contain the actual price of coal before it was allegedly inflated. The Directorate of Revenue Intelligence (DRI), on November 19, filed a special leave petition (SLP) in the Supreme Court challenging a Bombay High Court order that has quashed all letter rogatories (LRs) sent by the agency to foreign countries in connection with the alleged overvaluation of Indonesian coal ...
RBI today said exporters can be put on a "caution" list in case the trader is not making any efforts for realisation of export proceeds or on the recommendation of investigative agencies like ED ...
Coal import 'overvaluation case': DRI's showcause notice upheld | India News The Indian Express Elections 2023 Advertisement News India Coal import 'overvaluation case': DRI's showcause notice upheld Premium Coal import 'overvaluation case': DRI's showcause notice upheld
The Indian Express reported on June 20, 2016 that three stateowned banks declined to provide to the DRI information lying with their overseas branches regarding transactions by leading power companies in connection with the coal imports case. The banks had cited confidentiality norms which prompted Revenue Secretary Hasmukh Adhia to write to these lenders to cooperate with the ongoing ...
It needs bouquets rather than brickbats. This column first appeared in the print edition on October 18, 2021 under the title 'The fall guy'. The writer is former chairman, Coal India Ltd. Partha Bhattacharyya writes: Coal India has been meeting the demand for coal, helping generate power at affordable tariffs.
In April 2018, the Customs, Excise Service Tax Appellate Tribunal had rejected a DRI plea seeking over Rs 29,000 crore from a clutch of these 40 companies for alleged overvaluation of coal ...
A bench headed by Chief Justice Bobde issued notices to Adani Enterprises on the appeal filed by DRI in the DRI had initiated investigations in March 2016 against a few Adani...
Black Money Corruption DRI show cause notices to Adani, Reliance Infra Essar on coal import scams as PSU Banks hide details Are SBI, BoB UCO Banks trying to hushup an alleged,000 crore ( billion) Coal Import scam? By Team PGurus September 15, 2016
The DRI is probing at least 40 companies including two companies of the Anil Dhirubhai Ambani Group (ADAG), two Essar Group firms and a few public sector power firms for alleged overvaluation of coal imports from Indonesia pegged at Rs 29,000 crore between 2011 and 2015. In March 2016, DRI issued a general alert to its field formations across ...
Industrialist Gautam Adani in New Delhi (Express Photo by Anil Sharma) The Supreme Court on Wednesday stayed the Bombay High Court order that quashed the Letters Rogatory (LRs) sent by the Directorate of Revenue Intelligence (DRI) to foreign countries pertaining to alleged overvaluation of Indonesian coal imports from 2011 to 2015 by two Adani firms.
The agency, according to sources, found that inflated invoices received in India were issued by intermediaries, allegedly subsidiary companies of Indian importers or their fronts. The DRI alleged that in certain cases, the import value of Indonesian coal was artificially inflated by about 50 to 100 per cent by changing test reports which ...
Coal blocks allocation cases Explained: The allegations, investigation, and what next The coal blocks allocation cases are among the CBI's longest running probes, with the agency last registering a fresh FIR in the case in January 2020. It has since 2012 filed multiple chargesheets and even closed many cases for lack of evidence or culpability.
New Delhi | Updated: November 18, 2023 11:43 IST Follow Us It was in November 2019 that the DRI had moved the apex court against a Bombay High Court order in favour of the Adani Group. The case has been heard five times in four years and is yet to reach the stage of final arguments. Listen to this article 00:00 1x
The agency, according to sources, found that inflated invoices received in India were issued by intermediaries, allegedly subsidiary companies of Indian importers or their fronts. The DRI alleged that in certain cases, the import value of Indonesian coal was artificially inflated by about 50100 per cent by changing test reports which measure ...
April 28, 2022 04:30 IST. At its Raigarh unit in Chhattisgarh, JSPL will raise capacity to mtpa from mtpa now by 203031. Sanguine about the steel sector's prospects within and an ...
The DRI case against the Adani Group assumes significance as the Central Electricity Regulatory Commission (CERC) had in November 2017 pointed out that findings of the probe into alleged overinvoicing of Indonesian coal importsbyadanipowerwouldaffect the compensation it received from distribution companies in Haryana.
In case of any rebound, the index would face stiff resistance around 15,55015,700 levels," Ajit Mishra, VP Research, Religare Broking, said. Stocks to watch
A Kerala court on Tuesday issued a nonbailable arrest warrant against Prashant J Mehta, managing director of Rajesh Exports, in connection with a case registered against him for allegedly ...
The Securities Appellate Tribunal has stayed trading restrictions imposed on Assam Company India, which is among the 331 suspected shell companies identified by the government.
SBI's internet banking portal provides personal banking services that gives you complete control over all your banking demands online. Have you tried our new simplified and intuitive business banking platform? Log in to to avail business banking services.
DRI probe may affect Rs 800crore relief to Adani The DRI alleged at least 40 power generating firms imported Indonesian coal directly from ports in that country to India while import invoices were routed through one or more intermediaries based in Singapore, Hong Kong, Dubai and British Islands to artificially inflate its value.
The Congress on Monday claimed that the DRI investigation into some prominent coal importers for alleged overvaluation of coal imports from Indonesia has not made much headway in the last four years, and demanded handing over the case to a special investigation team (SIT).
The DRI has alleged that several traders are directly importing Indonesian coal but the invoices are "routed through one or more related /associated intermediary firms based abroad" after artificially inflating its value. To justify the inflated price, "manipulated test reports" of the quality of coal is submitted to PSUs and Customs.
Nifty Bank ₹ % Nifty Auto ₹ % Nifty Midcap 100 ₹ % Nifty Pharma ₹ % Nifty 50 ₹ % BSE Top Performing Index...
© DZCrusher - كل الحقوق محفوظة
