At the end of September 2023, GQG owned a % stake in Baba Ramdev's Patanjali Foods through two of his funds, shareholding pattern data shows. In the case of JSW Energy, the multibillion dollar fund owned % stake, % stake in IDFC First Bank and % in Adani Power. The Adani Group stock has more than doubled in FY24.
Adani Power on Wednesday reported 96 per cent decline in consolidated net profit at Rs crore for December quarter 202223 mainly on the back of higher expenses. ... cites high coal import costs Adani Power on Wednesday reported 96 per cent decline in consolidated net profit at Rs crore for December quarter 202223 mainly on the back ...
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 ...
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.
Corporate 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 ...
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.
The importer was primarily Adani Enterprises. For the 42mn tonnes of coal supplied by its own operations in that time, the Adani group declared an average price of 130 per tonne. For the 31mn tonnes of coal supplied by its three middlemen, however, the average price declared per tonne was 155, a 20 per cent premium worth almost 800mn.
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.
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Adani planned to have an operating coal mine in 2014 but is now hoping to ship first coal in 2021. EIS documents planned a 2 million tonne output of coal in 2014, scaling to 27 million tonnes per annum (mtpa) by 2017 and producing a maximum of 60 mtpa by 2022. 1. If Adani's mine had gone to plan, by the end of 2021, the company would have ...
The corresponding figures for the three previous years—in 201314, the country imported million tonnes of coal worth Rs 92, crore; in 201213, million tonnes of coal valued at Rs 86, crore were imported, while in 201112, coal imports stood at million tonnes valued at Rs 78, crore, the minister said.
HC quashes all Letters Rogatory issued in Adani coal import case The court said it did not go into merits of LRs issued by a metropolitan magistrate but found that due procedure had not been followed while issuing them. Press Trust of India Mumbai. 2 min read Last Updated : ...
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 ...
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 ...
Pan Asia Tradelink, previously named Pan Asia Coal Trading, has supplied Adani with tonnes of coal for since September 2021, according to customs records reviewed by the FT. The ...
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 value of the equipment was inflated by nearly 400 percent ie,,000 cr. According to the DRI, EIF was owned and controlled by Vinod Shantilal Adani, the eldest of the Adani brothers. The DRI alleged that the Adani firms transacted with EIF, a related party, to siphon off crore abroad. However, at the first appellate level, the ...
The DRI alleged that in certain cases, the import value of Indonesian coal was artificially inflated by about 50100 per cent by changing test reports which measure the calorific value of coal. Artificial inflation of value of the imported coal increases the landed cost of coal, which is a primary fuel in coal fired thermal power plants. The ...
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 ...
Adani Group is preparing to ship the first coal cargo from Australia's most controversial mine, after battling a sevenyear campaign by climate activists and defying a global push
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 ...
India and Germany on Monday inked a joint declaration of intent on IndoGerman Green Hydrogen Task Force, an official statement said. Union Minister for Power and New and Renewable Energy R K Singh and German Minister for Economic Affairs and Climate Change Robert Habeck signed the joint declaration virtually, the Ministry of New and Renewable ...
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.
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 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.
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.
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 ...
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 ...
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