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WhatsApp: +86 18203695377Adani 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 ...
WhatsApp: +86 18203695377The 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 ...
WhatsApp: +86 18203695377Alexander 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 ...
WhatsApp: +86 18203695377Adani 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.
WhatsApp: +86 18203695377The 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.
WhatsApp: +86 18203695377Reuters. Updated On Nov 17, 2023 at 10:05 AM IST. Indian investigators are seeking to restart a probe into Adani Group for alleged overvaluation of coal imports and have asked the Supreme Court to allow them to collect evidence from Singapore, a step they say the company thwarted for years, legal documents show.
WhatsApp: +86 18203695377The DRI is probing at least 40 companies for alleged overvaluation of coal imports from Indonesia pegged at Rs 29,000 crore between 2011 and 2015. The list includes six Adani companies including Adani Enterprise and Adani Power. The Adani Group has denied any wrongdoing.
WhatsApp: +86 18203695377The 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 ...
WhatsApp: +86 18203695377The 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 ...
WhatsApp: +86 18203695377According 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 ...
WhatsApp: +86 18203695377The 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 ...
WhatsApp: +86 18203695377Adani, 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 ...
WhatsApp: +86 18203695377In Setback to Adani Group Probe, Bombay HC Restrains DRI from Acting on Letters Rogatory. ... The CBI also only filed a PE against NTPC in the coal import scam that happened during 2008 to 2010 ...
WhatsApp: +86 18203695377The DRI probe against Adani and other companies commenced after the agency issued a general alert to its field formations across India in March 2016, outlining the modus operandi of overinvoicing of coal imports from Indonesia. DRI alleged the money was being "siphoned" outside the country and the electricitygenerating firms were availing ...
WhatsApp: +86 18203695377The HC made it clear that it had not gone into the merits of the LRs. The SC issued a notice to AEL and gave it two weeks' time to reply to the appeal filed by the DRI. The DRI had, in March 2016, initiated probe into the matter pertaining to alleged overvaluation of coal imports between 2011 and 2015.
WhatsApp: +86 18203695377The Directorate of Revenue Intelligence (DRI) told the Bombay HC that Adani Enterprises is trying to obstruct its investigation into overvaluation of coal im...
WhatsApp: +86 18203695377Billionaire 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 ...
WhatsApp: +86 18203695377Adani 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 ...
WhatsApp: +86 18203695377The Bombay HC had quashed all global information requests the DRI had sent to foreign countries pertaining to alleged overvaluation of coal imports by two Adani firms. Gautam Adani. Photo: Reuters
WhatsApp: +86 18203695377On arrival at India's largest commercial port, Mundra in Gujarat run by Adani, the declared import value was The DL Acacia cargo was one of 30 shipments imported into India by Adani...
WhatsApp: +86 18203695377For 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 ...
WhatsApp: +86 18203695377Corporate Fraud Adani firm is trying to obstruct investigation in coal imports case, DRI tells Bombay HC The Directorate of Revenue Intelligence said the Adani group was challenging the 'well ...
WhatsApp: +86 18203695377HC 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.
WhatsApp: +86 18203695377Besides 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 ...
WhatsApp: +86 18203695377Adani 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 ...
WhatsApp: +86 18203695377Billionaire 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.
WhatsApp: +86 18203695377