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.
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 group ...
The DRI told the SC that the preliminary scrutiny of the import data/documents during October 2010 to March 2016 revealed that the Adani group of companies had imported about 1,300 consignments of ...
In 2016, the DRI issued a notice naming five Adani companies and five others supplied by the group among 40 importers under investigation for "artificially inflating" the value of Indonesian coal. The notice indicated a significant overvaluation, ranging from 50% to , as per comparisons of export and import records.
The DRI's investigation in 2016 estimated that the practice of overinvoicing coal could have extracted as much as 5 billion. Recent allegations by opposition politicians in Gujarat indicate that the state government may have made significant excess payments to Adani Power linked to a power purchase agreement.
A publicinterest litigation petition has been filed in the Delhi High Court against the multinational business conglomerate Adani group, Reliance Anil Dhirubhai Ambani Group and other energy and ...
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 companies. ... Regarding coal procurement, the Adani Group pointed out that it is ...
Overvaluation of Indonesian coal. From 2010 onwards, the DRI had initiated probe against at least 40 companies including five firms of Adani Group including Adani Power for alleged overvaluation ...
In some cases, laws were amended that allowed Adani Group companies to expand in sectors such as airports and coal. In turn, the stock value of the Adani Group rose from about 8bn in 2013 to ...
Email, phone calls and text message to the official spokesperson of Adani Group remained unanswered. The HC 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 ...
On February 27, 2016, the DRI arrested Manoj Kumar Garg, a Hong Kongbased Indian national who had allegedly opened a front company in Dubai responsible for overvaluing imported coal to the tune ...
According to an agreement signed by Vinod Adani, 360 One paid a Dubai subsidiary of Assent to advise on the investments. Ahli and Chang reappear in the paper trail in 2013, when Sebi cracked down on excessive promoter holdings at more than 100 companies. Two funds became significant investors in Adani stocks: the Emerging India Focus Funds and ...
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 ...
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 ...
"In 2016, the DRI had alleged that 40 Indian companies including Adani Enterprises, Adani Power, Adani Wilmar, Adani Power Maharashtra and Adani Power Rajasthan were overinvoicing imported Indonesian coal with the goal of 'siphoning off money abroad' and 'to avail higher power tariff compensation based on artificially inflated cost of the imported coal'.
Pan Asia Tradelink, previously named Pan Asia Coal Trading, has supplied Adani with tonnes of coal for since September 2021, according to customs records reviewed by the FT. The ...
16 Nov 2023, 9:21 pm The Adani Group is currently the focus of renewed scrutiny by Indian authorities, who are investigating suspicions of inflating the value of coal imports, as reported by...
Five Adani companies and a further five supplied by the group were among 40 importers named by the DRI in a 2016 notice of an investigation into intelligence that they were "artificially...
Methods: We performed a nationwide, retrospective cohort study among adults who underwent total pancreatectomy in 17 Dutch centers (). Morbidity and mortality were analyzed, and longterm quality of life was assessed crosssectionally using the following generic and diseasespecific questionnaires: the 5level version European quality ...
The statement also said, "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.while the proposed story by the publication is based on DRI's General Alert Circular dated March 30, 2016, which mentioned as ...
In 2016, the DRI investigation suspected that the value extracted from illicit overinvoicing of coal was Rs300bn, then worth about 5bn. In August this year, opposition politicians in Gujarat accused the state government of making almost 500mn in excess payments to Adani Power over five years under a power purchase agreement linked to the ...
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