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 ...
Adani Group said in a statement on Friday that during the DRI's inquiry into the alleged overvaluation of Indonesian coal imported by Adani Enterprises Ltd. and Adani Power Ltd., among other major private and staterun power generators, "both companies furnished details and documents as sought for by the DRI more than four years back."
Adani gets HC relief in coal imports case. MUMBAI: In a reprieve to the Adani Group, the Bombay high court on Wednesday granted an interim stay on the letters of request sent by the Directorate of ...
To a separate question on investigation by the Directorate of Revenue Intelligence (DRI) into import of power generation and transmission equipment by Adani, he said the probe has "concluded ...
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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 ...
Corporate Fraud Adani coal imports case: Bombay HC quashes DRI's requests seeking judicial help from foreign nations The Directorate of Revenue Intelligence is investigating at least 40 ...
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 Adani Group drew attention to Knowledge Infrastructure, one of the 40 importers mentioned in the circular, whose showcause notice alleging overvaluation in the import of coal from the DRI was quashed by the appellate tribunal (CESTAT). The DRI's appeal was dismissed by the Supreme Court on January 24, 2023.
Adani's net worth skyrocketed from 9 billion in 2020 to 127 billion this month. Still, more than 60 percent of the Adani Group's revenue is derived from coalrelated businesses, according to ...
The Directorate of Revenue Intelligence (DRI) has moved the Supreme Court to challenge the Bombay High Court (HC) order that restrained the agency from seeking foreign counterparts' assistance in its probe against a few firms of the Adani group for alleged overvaluation of Indonesian coal imports. The DRI had issued 14 letters rogatory (LRs ...
NEW DELHI: The Supreme Court revived on Wednesday the probe against a Adani group firm in a case of alleged overvaluation of Indonesian coal imports by staying the Bombay High Court's decision of ...
Adani, Indias largest trader of imported thermal coal, will deliver 1 million tons to staterun NTPC Ltd., which in October issued its first tender for coal imports in more than two years, the people said, requesting anonymity as the details are still private. ... › Adani wins key coal tender as India acts to avoid energy crisis. The Economic ...
Also read: Coal Import Scam: Adani Company Is Trying to Impede Investigation, DRI Tells Bombay HC. As its investigations proceeded, the DRI realised it would need further documentation from the foreign branches of Indian banks, namely, ICICI Bank, Axis Bank, Bank of Baroda (BoB) and, most importantly, the State Bank of India (SBI) through which ...
The high court order assumes significance as apart from the Adani Group, 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.
The banking regulator's response followed a request by the Directorate of Revenue Intelligence (DRI), which sought RBI's assistance in obtaining information from two stateowned banks on the alleged Rs 29,000crore overvaluation of coal imports from Indonesia by Indian companies, including the Adani Group, ADAG and Essar Group among others.
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 ...
The Adani group had been so rattled by reports that the newspaper's journalists had started an exhaustive investigation into coal imports by the group — often rapping on doors, making calls, emailing questionnaires and even shoving written questions under the door of one office in Singapore — that they took the unprecedented step of making a regulatory filing with the bourses to rubbish ...
The Directorate of Revenue Intelligence has accused Adani Enterprises Limited of trying to obstruct its investigation into the overvaluation of coal imports by some group firms, The Indian Express ...
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...
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 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...
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.
Built by Adani Power Ltd India's largest private power company founded by Gautam Adani the Godda plant in India's Jharkhand state has drawn flak in Dhaka for the "lopsided ...
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 ...
Adani Power, the country's largest private power company, increased coal imports to tonnes in June from 154,000 tonnes the previous year. Together, the Adani subsidiaries accounted for...
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.
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 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.
The Supreme Court revived on Wednesday the probe against a Adani group firm in a case of alleged overvaluation of Indonesian coal imports by staying the Bombay High Court's decision of quashing ...
Stateowned CIL has cancelled its maiden tender for shortterm import of coal in which Adani Enterprises had emerged as the lowest bidder, sources said on Monday. Adani Enterprises, which had quoted around Rs 17,000plus per tonne for importing MT of coal, was earlier selected for the shortterm shipment. However, for a mediumterm tender for sourcing additional 6 million tonnes (MT) of ...
Adani, India's largest coal trader, offered to supply last month 500,000 tonnes of South African coal at 40,000 rupees () per tonne and another 750,000 tonnes at 17,480 rupees () in ...
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