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 ...
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 coal import scam was estimated to be at around,000 crore. ... following which the HC quashed all LR proceedings citing technicalities. The Supreme Court stayed the order of the Bombay High Court in 2020. ... EIF was owned and controlled by Vinod Shantilal Adani, the eldest of the Adani brothers. The DRI alleged that the Adani firms ...
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.
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).
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 ...
The 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 ...
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 Virgin Islands to artificially inflate its value.
In March 2016, the DRI initiated a probe against a few Adani Group firms for alleged overvaluation of coal imports from Indonesia between 2011 and 2015. The LRs were issued to Singapore, Dubai and Hong Kong, seeking help to access documents lying with overseas branches of three Stateowned banks relating to transactions under the probe.
Pegeboman Berlin 1940 1945 dilakukan oleh 4 negara besar yaitu Inggris, Prancis, Amerika Serikat dan Uni Soviet. Pengeboman oleh RAF Inggris hampir dilakuk...
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 ...
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 ...
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.
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 ...
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 ...
Coal Import Scam: Adani Company Is Trying to Impede Investigation, DRI Tells Bombay HC | NewsClick Skip to main content Subscribe And Support Header Menu Politics Economy Covid19 Science Culture India International Sports Articles Videos हिन्दी All Articles Newsclick Articles All Videos Newsclick Videos Politics Economy Science Culture India
The DRI has also claimed that in certain cases, the import value of Indonesian coal was artificially inflated by about 50100%, by changing test reports which measure the calorific value of coal ...
Bloomberg / Nov 17, 2023, 16:41 IST. The Indian government is seeking to reopen an investigation into Adani Group's coal imports from Indonesia, focusing on alleged overinvoicing. The Directorate of Revenue Intelligence (DRI) has requested the Supreme Court to revive the probe that began in 2015. Adani Group imports Indonesian coal into India ...
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 ...
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 ...
The DRI investigation, started in 2009 and is still continuing, alleges overinvoicing of imported coal and powerplant equipment cumulatively amounted to around Rs 50,000 crore prior to 2008.
© DZCrusher - كل الحقوق محفوظة
