Two years ago, i n March 2016, the DRI had issued a general alert to its field formations across the country, outlining the modus operandi of overinvoicing of coal imports from Indonesia.
From Office of Pr. ADG DRI DZU situated at B3 and B4 6th Floor Pt. Deendayal Antyodya Bhawa CGO Complex Lodhi Road New Delhi110003 ( Size KB ) Communique Working of DRI Hqrs from D Block Drum Shape Building Indraprastha Bhavan Estate New Delhi110002 ( Size KB )
APPROXIMATELY 58% of India's steel is currently produced in electric furnaces induction furnaces (IF) as well as electric arc (EAF). Given the lack of domestic scrap and the good availability of iron ore, thermal coals and natural gas, direct reduction has provided much of the iron units required for growth in steel production.
The DRI has been investigating 40 powergenerating companies and traders for the past couple of years. It has flagged prominent public and private sector companies that are suspected to be inflating the import value of coal beyond that prevailing in the international market. According to the DRI alert, "the objective is to siphon off money ...
The company said it has been vindicated by the DRI's decision this year to withdraw an appeal to the Supreme Court in a case against one of the 40 importers named in 2016.
Adani Enterprises has denied a news report even before it has been published. In a regulatory filing with the bourses, Adani Enterprises — the flagship company of the Adani group — accused Londonbased Financial Times of malicious bias in regurgitating old allegations that it had overinvoiced coal imports. The group slammed the financial ...
DRI Coal Download as a PDF or view online for free. Submit Search. Upload. DRI Coal Report. Hindenburg Research Hindenburg Research. Follow • 0 likes • 1,477 ...
Direct Reduced Iron (DRI) production has increased tremendously since 1980, from essentially zero to over 21Mt in 2008, as shown in Fig 1. Of the total DRI production in 2008, 74% was produced from coal in rotary kilns and 26% from natural gas in shaft furnaces. India is now the world's largest producer of DRI.
A major scam involving several energy companies and traders, including some in the state sector, has been unearthed involving alleged overinvoicing of imported coal including through a tax haven to siphon off money abroad and charge higher power tariffs, according to DRI sources. The companies include some of the biggest names in the sector as also some state electricity boards and central ...
August 18, 2023 Fatality. Accident Classification: Drowning. Location: Mcdowell, West Virginia. Mine Controller: ClevelandCliffs, Inc. Mine Type: Underground. Mined Material: Coal (Bituminous) Chargeback Date: 9/27/2023. On August 18, 2023, MSHA was informed of a miner's death at Twin State Mining, Inc.'s Mine No. 39 in Elbert, WV. MSHA ...
The DRI has monitored the details of coal imports of these companies till 31 March 2016, information accessed by the authors suggests. Web of Scams. This revelation comes weeks after the DRI secured the first arrest of an accused person who was allegedly involved in overinvoicing of coal imported from Indonesia.
DRI claims much of the coal was imported through Adani's Singapore subsidiary. ... 2016 and forwarded to the competent authority in Singapore was challenged by the Adani group before the Bombay ...
Allegations revolve around overinvoicing of coal imports and global conspiracy; ... The FT's story was said to be based on a General Alert Circular /2016/CI dated March 30, 2016, issued by the Directorate of Revenue Intelligence (DRI). The Adani Group pointed out that the circular mentioned as many as 40 importers, including Adani Group ...
"The FT's proposed story is based on the DRI's General Alert Circular /2016/CI dated 30 March 2016. ... It also deliberately ignores the fact that coal procurement in India on a longterm ...
Adani Group said in the case of Knowledge Infrastructure, one of the 40 importers mentioned in the General Alert Circular, the DRI's Show Cause Notice alleging overvaluation in the import of ...
In this paper, the process of direct reduction roasting using magnetic separation to produce direct reduction iron (DRI) from highphosphorus oolitic hematite, using coal slime and blast furnace dust as reductant, is investigated. The possible use of slime coal and blast furnace dust as reductant and the dephosphorization behavior during the process of direct reduction was studied ...
Having failed earlier, a foreign publication is "making another effort to financially destabilise the Adani Group by raking up an old, baseless allegation of overinvoicing of coal imports," Adani Group said in a statement. It said the proposed story by the publication is based on the DRI's General Alert Circular dated March 30, 2016.
Indian energy minister Piyush Goyal told Economic and Political Weekly that the DRI was "investigating cases related to misdeclaration of value (over invoicing) of coal imported from Indonesia...
DRI: This iron production process directly reduces iron ore in solidstate with the reaction temperature below the melting point of iron. Reducing gases are produced from natural gas (gasbased DRI) or coal (coalbased DRI) called syngas, a mixture of H 2 and CO. Although DRI production is more energy efficient than pig iron production from BF ...
Jun 23, 2023. Around percent of the sponge iron produced in India in 2022 was under coal based process route. This was due to numerous coal based units present in the mineral rich states. The ...
According to the latest DRI notice, the agency has found that several coal traders were directly importing Indonesian coal to Indian ports by allegedly routing the invoices "through one or more related /associated intermediary firms based abroad" after artificially inflating its value. According to the latest DRI notice, the agency has ...
In March 2016, the DRI initiated a probe against a few Adani Group firms for alleged overvaluation of coal imports from Indonesia between 2011 and 2015. The LRs were issued to Singapore, Dubai and Hong Kong, seeking help to access documents lying with overseas branches of three Stateowned banks relating to transactions under the probe.
Receive daily email alerts, subscriber notes personalize your experience. Register Now With a GDP growth rate of % in 2019 and forecast to expand by another 8% this year, according to the Asian Development Bank, Bangladesh's demand for dry bulk commodities has burgeoned, successfully drawing a sizable dry bulk shipping traffic to its shores.
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