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In January 2020, the Supreme Court paved the way for DRI to investigate allegations of overvaluation of coal imports from Indonesia by the Adani group. The apex court through the January 9, 2020, order stayed an October 17, 2019 judgment of the Bombay High Court which granted relief to Adani group by quashing LRs sent to various countries including Singapore, seeking details of the group's ...
Billionaire Gautam Adani's conglomerate is benefiting from India's rush to import coal to ease a supply crunch, winning a huge majority of import orders from state power giant NTPC Ltd.
In another attempt to take its investigation forward in the multicrore coal import scandal, the Directorate of Revenue Intelligence (DRI) filed an affidavit with Bombay High Court on June 13 challenging a petition by Adani Enterprises Ltd (AEL) that sought the quashing of DRI's letters regotary (LR) to foreign jurisdictions.. DRI told the court that AEL is trying to "impede" its probe ...
Coal imports case: SC to hear in February DRI's appeal against Bombay HC order quashing LRs On October 17, 2019, the high court had quashed all the letters rogatory (LRs) sent by the DRI to Singapore and other countries in its ongoing investigation against the Adani Group firms for alleged overvaluation of Indonesian coal imports.
Stating that it examined 30 shipments of coal from Indonesia to India by an Adani company over 32 months between 2019 and 2021, FT in its report said, "in all cases prices in import records were ...
The records show that over the past two years, Adani used offshore intermediaries in Taiwan, Dubai and Singapore to import 5bnworth of coal at prices that were at times more than double the ...
Adani Group imports Indonesian coal into India via Singapore. Adani Global Pte, the Singapore unit, produced documents at Indian ports that showed a jump in some coal shipments' value and...
Adani News Live: The Supreme Court disposed of the petition filed by the Directorate of Revenue Intelligence (DRI) challenging orders issued last year by the Customs, Excise Service Tax Appellate Tribunal (CESTAT), quashing cases pertaining to overinvoicing allegations leveled by the DRI against three Adani group subsidiaries. The US shortseller Hindenburg Research had mentioned the DRI ...
Project shrank to onesixth of original plan. 2 bln coal terminal key to mine's future. MELBOURNE, Dec 27 (Reuters) India's Adani Group () is preparing to ship the first coal cargo from ...
Adani Power. Two power plants built by the Adani group in Tiroda, Maharashtra and in Kawai, Rajasthan are under the DRI's scrutiny for alleged over invoicing of capital equipment used in power plants. The show cause notices (SCNs) issued in these cases in May 2014 were dismissed by the DRI's adjudicating authority K V S Singh in ...
Indian investigators seek Supreme Court permission to restart a probe into Adani Group's alleged coal import overvaluation. The Directorate of Revenue Intelligence aims to collect evidence from Singapore, accusing Adani of thwarting efforts. Adani denies wrongdoing, facing wider scrutiny since Hindenburg Research's accusations. Legal battles span Mumbai, New Delhi, and Singapore.
The records show that over the past two years, Adani used offshore intermediaries in Taiwan, Dubai and Singapore to import 5bnworth of coal at prices that were at times more than double the...
The Directorate of Revenue Intelligence (DRI) had in 2016 issued a circular saying 40 entities, including five Adani Group companies, were being investigated for alleged overinvoicing of coal ...
The DRI has also claimed that in certain cases, the import value of Indonesian coal was artificially inflated by about 50, by changing test reports which measure the calorific value of coal ...
Energy. Trade. 22/Jan/2020. New Delhi: Indian utilities coal imports rose to their highest levels since 2015 and reversed a three year slide, government data showed, mainly due to increased ...
The Directorate of Revenue Intelligence (DRI) has told the Bombay High Court in a June 13 affidavit that Adani Enterprises Ltd (AEL) is trying to "impede" its probe against a few Adani Group firms by challenging the "well settled procedure of issuance of Letter Rogatory" (LR) in the court.
Milestones at a glance. Pioneering the Mine Developer and Operator (MDO) model in 2009. Commissioned coal handling plant of 15 MTPA, washery of 10 MTPA. Aiming to be one of the largest mining groups in the world. Adani Enterprises Ltd is India's first private mining company who pioneered the concept of Mine Developer and Operator (MDO)
A Bombay HC halted an investigation by the Directorate of Revenue Intelligence into the alleged Rs 29,000cr overvaulation of Indonesian coal imports by Adani Group. DRI is probing at least 40 companies, including Essar, for overvaluation of imports.
India's main opposition party has called for an investigation of the country's Adani Group over allegations reported by the Financial Times that the conglomerate appeared to have inflated the ...
In early February 2023, the Directorate of Revenue Intelligence (DRI) of the Ministry of Finance moved the Supreme Court against an Appellate Tribunal's order quashing DRI's case alleging overinvoicing of coal supplies procured by three Adani Group companies. The DRI's case, reported in September 2021 by AdaniWatch, alleged that the ...
Supply chain Manager Global Sourcing. Nov 2014 Aug 20161 year 10 months. Chennai Area, India. Started as Logistics specialist in 2010 and heading the team of EM Sourcing now. Floating RFQs ...
The DRI is probing at least 40 companies for alleged overvaluation of coal imports from Indonesia, to the tune of Rs 29,000 crore. DRI said that if the HC judgment is not stayed, grave prejudice ...
According to the DRI, petitioners were involved in the overvaluation of coal of Indonesian origin and it is alleged that during the period from October 2010 to March 2016, Adani Group of Companies ...
The DRI has alleged that several entities, including the Adani group, through a maze of companies in different sovereign jurisdictions, have overvalued coal imports as compared to actual export ...
Indian import data since July 2021 indicates that Adani paid a total of billion to these companies for coal sourced at substantial premiums to market prices. The details regarding these ...
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