Supreme Court stays HC order, lets DRI pursue case against Adani firms. The DRI had initiated investigations in March 2016 against a few Adani group firms for alleged overinvoicing of 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.
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.
For 42 million tonnes of coal supplied by its own operations in that time, the Adani group declared an average price of 130 per tonne. But for the 31 million tonnes of coal supplied by its three ...
The FT also examined 30 shipments of coal from Indonesia to India by an Adani company over 32 months between 2019 and 2021. In all cases, prices in import records were far higher than those in corresponding export declarations. During the journeys, the value of the combined shipments unaccountably increased by over 70mn.
Adani, Asia's second richest man and the founder of the Adani Group, is facing sharp criticism as his companies seek to add investments in fossil fuels — including coal mines and power plants ...
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 ...
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.
On October 10, hearing a case regarding the alleged ove rinvoicing of Indonesian coal imported by the Adani Group, the Supreme Court clubbed the matter with another case related to alleged smuggling of dutyfree gold by a Hyderabadbased jeweller.. It was in November 2019, that the DRI had moved the apex court against a Bombay High Court order in favour of the Adani Group.
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 ...
The DRI investigation alleges overinvoicing of imported coal and powerplant equipment cumulatively amounted to around Rs 50,000 crore prior to 2008.
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.
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 ...
Bombay HC Quashes LORs Issued By DRI For Probe Into Alleged Evasion Of Customs Duty By Adani In Import Of Indonesian Coal. Nitish Kashyap . 18 Oct 2019 4:49 AM GMT. Share this.
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 ...
Adani Group accused of importing coal at inflated prices; denies allegations. FT report based on 30 shipments of coal from Indonesia to India over 32 months. Prices declared to custom officers in ...
Sebuah studi baru memiliki beberapa saran praktisnya yang menetapkan tempat terbaik dan terburuk untuk berlindung dari bom nuklir. Dikutip dari IFL Science, Rabu (18/1/2023) berlindung dari bom nuklir tak mungkin dilakukan jika Anda berada dalam zona kerusakan parah karena apa pun yang terlalu dekat akan menguap begitu saja.
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 ...
Alexander Bethe: "Hard coal is a substantial component of a secure energy supply. Another major advantage of hard coal is that the raw material comes from different countries and the supply routes are much more resilient than with gas. Last year, for example, we completely replaced the import of more than 50% Russian coal for the German market ...
"Further, the DRI's appeal was dismissed as withdrawn by the Supreme Court of India on January 24, 2023 with the observation that "we appreciate the stand taken by the government in not entering into futile litigation"." "Clearly, the issue of overvaluation in the import of coal was conclusively settled by India's highest court of ...
agent to produce DRI of the time of this article has only rarely been reported [5]. The most comprehensive study by Yilmaz et al. [6] compared different types of DRI, including DRI partially produced by using hydrogen as reducing gas and their potential on the reduction of GHG emissions in a BF process. However, no modeling of the DRP was ...
The Supreme Court revived on Wednesday, 9 January, 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 ...
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 ...
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 ...
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.
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 ...
The Supreme Court (SC) Monday dismissed 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 levelled by the DRI against three Adani group subsidiaries. Between November 2022 and January 2023, the federal agency had moved the ...
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.
Adani is digging the biggest coal mine in Australian history. Adani's Carmichael coal mine has approval to extract up to 60 million tonnes of coal a year for 90 years creating billion tonnes of carbon pollution. Adani's coal is shipped through the Great Barrier Reef via Adani's NQXT coal port and burned in Adani's Indian coal plants.
The DRI was 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.
HC relief for Adani in Rs 29,000 crore imports case. 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 FT identified 2,000 shipments totalling 73mn tonnes of coal declared as Indian imports by Adani companies between September 2021 and July 2023 in customs data. The importer was primarily Adani ...
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. New Delhibased NTPC has placed orders for 20 million tons of imported coal for the fiscal year ending March, of which almost million tons have been awarded to Adani Enterprises Ltd., according to ...
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 ...
Besides Adani group firms, 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 ...
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