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Adani coal imports under DRI lens again MSN

Adani coal imports under DRI lens again. Feedback. Indian investigators seek Supreme Court permission to restart a probe into Adani Group's alleged coal import overvaluation. The Directorate of ...

Adani Letters Rogatory Judgment: Why Finance Ministry Must Appeal

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 ...

Bangladesh in hot seat over Adani's power deal Al Jazeera

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 ...

Imported Coal 'Overvaluation' by Adani Firms Pits DRI ... NewsClick

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 Virgin Islands to artificially inflate its price. The DRI's adjudicating dropped the ...

India seeks to revive probe into Adani coal imports from ... CNBCTV18

The nation's Directorate of Revenue Intelligence, or DRI, which is part of the finance ministry, has again reiterated its request to India's Supreme Court to revive an investigation that began in 2015 into an Adani Singapore entity and the alleged overinvoicing of imported coal by billionaire Gautam Adani's companies, according to an October 9 court filing seen by Bloomberg News.

Adani wins key coal tender as India acts to avoid energy crisis

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 ...

Adani probe: Supreme Court stays Bombay HC order on DRI's global info ...

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.

Time Adani is made accountable: Swamy. Raises doubts on huge Adani's ...

Later talking to media, Swamy said that Adani was the key player in the UPA Government's,000 crores Coal Scam Import and Banks like the State Bank of India (SBI) are trying to help the scamsters by not providing details to probe agencies such as the Department of Revenue Intelligence (DRI).

Coal OverInvoicing Scam: DRI Will Appeal Decision in Favour of Adani ...

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 ...

Uncovering the Adani Controversy: Allegations of Inflated Coal Prices

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 ...

Exclusive | DRI's 29,000 cr coal case: Bombay HC rules in favour of ...

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.

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Adani Enterprises says won tender to supply imported coal to NTPC

Follow Us. Billionaire Gautam Adani's porttoenergy conglomerate on Thursday said it had won a contract to supply imported coal to stateowned electricity generator NTPC but played down its significance saying the volume of 1 million tonnes was small. "NTPC has awarded the contract to the company for the supply of 1 million tonnes of imported ...

Gautam Adani | Adani Group imported coal well above market prices ...

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 ...

ADANI COAL The Economic Times

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.

Bombay HC Quashes LORs Issued By DRI For Probe Into Alleged ... LiveLaw

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 ...

Adani Group's coal imports case probe to start soon amid Hindenburg ...

The Indian revenue agency did not respond to Reuters' queries. The effort to revive the coal probe comes amid wider regulatory scrutiny of Adani since Hindenburg Research in January accused the tycoon and his conglomerate of improper use of tax havens and stock manipulation. Despite Adani's denials, the short seller's report triggered a USD 150 ...

Adani firm trying to impede our probe, DRI tells Bombay HC

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.

Adani Enterprises loses Coal India's shortterm coal import tender

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 ...

Billionaire Adani Is Winning From India's Shift to Import Coal

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.

DRI moves SC challenging CESTAT order quashing case against two Adani ...

The Directorate of Revenue Intelligence has moved the Supreme Court challenging an order of the Customs, Excise Service Tax Appellate Tribunal quashing a case pertaining to overinvoicing allegations levelled by the Directorate of Revenue Intelligence (DRI) against two Adani group July and August, while granting relief to three Adani group subsidiaries, Adani Power Maharashtra ...