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.
India's coal imports decline 12 pc in August. India's coal imports in August fell by % to million tonnes compared to the same month last year, according to data from mjunction services ltd. Overall coal imports between April and August also dropped by % to million tonnes.
Indian investigators seek Supreme Court permission to restart a probe into Adani Group's alleged coal import overvaluation. The Directorate of Revenue Intelligence aims to collect evidence from Singapore, accusing Adani of thwarting efforts. Adani denies wrongdoing, facing wider scrutiny since Hindenburg Research's accusations. Legal battles span Mumbai, New Delhi, and Singapore.
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 ...
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.
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 ...
Arjun Appadurai and Michael Lambek . Jordan Kynes *, Vanessa Rau †, Rosa Coco Schinagl ‡ Abstract: "Old and New Gods: in Conversation with Arjun Appadurai and Michael Lambek" introduces the reader to some of the broader themes of the work appropriately through dialogue; a casual discussion between three young researchers and two ...
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 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."
Under the clause in the new coal law that allowed old MDO contracts to be reinstated, the Rajasthan stateowned firm continued its coalscamera agreement with its Adani Groupled joint venture.
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 ...
The DRI is probing at least 40 companies for alleged overvaluation of coal imports from Indonesia, to the tune of Rs 29,000 crore. DRI said that if the HC judgment is not stayed, grave prejudice ...
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'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 Finance Ministry on Monday informed Parliament that the Directorate of Revenue Intelligence (DRI) has concluded its investigations into the imports of Power Generation, Power Transmission, and Infrastructure (Port SEZ) equipment by Adani Group companies. The DRI has submitted its report to the relevant judicial authorities, it informed.
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 ...
The report, meticulously compiled by the Londonbased Financial Times, analyzed customs records dating back to July 2021. It asserts that the Adani Group paid a staggering billion to three intermediary companies for coal imports that were notably overpriced compared to market rates. The Adani Group reacted to these allegations by initially ...
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.
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 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 ...
Earlier, in November, the agency had filed a similar appeal in connection with the relief granted to two other Adani group subsidiaries, Adani Power Maharashtra Ltd (APML) and Adani Power Rajasthan Ltd (APRL) in a similar case. ... replying to ET's queries on the DRI's appealsfiled in November, an Adani group spokesperson said, "Customs ...
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 ...
DRI probe into alleged overvaluation illegal, invalid: Adani Enterprises petition in Bombay HC The DRI alleged that Indonesian coal was directly imported from ports in that country to India while import invoices were routed through one or more intermediaries based in Singapore, Hong Kong, Dubai and the British Islands to artificially inflate its value.
The DRI has also claimed that in certain cases, the import value of Indonesian coal was artificially inflated by about 50, by changing test reports which measure the calorific value of coal ...
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