WEBDec 19, 2023 · The Delhi High Court on Tuesday directed the Central government, the Central Bureau of Investigation (CBI), and the Directorate of Revenue Intelligence (DRI) to 'meticulously' and 'expeditiously' investigate allegations of overinvoicing of coal imports and equipment by companies, which includes the Adani Group and Essar Group, and .
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WEBNov 18, 2023 · 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 ...
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WEBSep 19, 2018 · 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. In March 2016, DRI issued a general alert to its field .
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WEBOct 12, 2023 · The Directorate of Revenue Intelligence (DRI) had in 2016 issued a circular saying 40 entities, including five Adani Group companies, were being investigated for alleged overinvoicing of coal ...
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WEBJun 21, 2019 · 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 ...
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WEBJan 8, 2020 · According to the DRI, petitioners were involved in the overvaluation of coal of Indonesian origin and it is alleged that during the period between October 2010 to March 2016, Adani Group of ...
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WEBNov 17, 2023 · 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 .
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WEBJan 9, 2020 · 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 ...
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WEBJan 9, 2024 · On December 19, 2023, the high court had directed the CBI and DRI to "meticulously and expeditiously" look into the allegations of overinvoicing of coal imports as well equipment by several power companies including those of the Adani Group and Essar Group to "unearth actual factual position and take appropriate actions against the ...
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WEBMar 27, 2023 · 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. .
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WEBJan 9, 2024 · Nothing that the case involving Adani Power Maharashtra Limited is pending before the Supreme Court, said its Dec 19, 2023 directions to the CBI and DRI about Adani Group firms be kept 'in ...
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WEBOct 12, 2023 · In export records the price was mn, plus 42,000 for shipping and insurance. On arrival at India's largest commercial port, Mundra in Gujarat run by Adani, the declared import value was mn." In one instance, the value of a shipment of coal was shown as Rs 139 million ( million) when the ship left an Indonesian port.
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WEBDec 27, 2021 · The coal will be exported from a terminal at Abbot Point, which Adani bought for 2 billion in 2011 and renamed North Queensland Export Terminal. Analysts said it made sense for Adani to dig the mine to help it make back the massive investment on the coal terminal, which has run nearly half empty since Adani acquired it.
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WEBJul 20, 2022 · Together, the Adani subsidiaries accounted for 35 per cent of India's coal imports from April to June this year, reflecting the group's growing dominance of the country's infrastructure ...
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WEBOct 9, 2023 · The FT's proposed story is based on the DRI's General Alert Circular /2016/CI dated 30 March 2016. The FT's brazen agenda is exposed by the fact that they have singled out the Adani Group, while the DRI's Circular, the raison d'être for the whole story, mentions as many as 40 importers including the Adani Group companies.
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WEBNov 17, 2023 · Indian authorities reviewed 1,300 shipments involving Adani and alleged in court filings that it "grossly overstated" or "artificially inflated the import value of coal" as compared with the ...
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WEBNov 17, 2023 · 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 .
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WEBIn early February 2023, the Directorate of Revenue Intelligence (DRI) of the Ministry of Finance moved the Supreme Court against an Appellate Tribunal's order quashing DRI's case alleging overinvoicing of coal supplies procured by three Adani Group companies. The DRI's case, reported in September 2021 by AdaniWatch, alleged that the ...
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WEBNov 2, 2019 · The Bombay High Court order of October 17 in the case of the Adani group has farreaching legal impliions that threaten to jeopardise the evidencegathering process of our law enforcement agencies and has the potential to destabilise many ongoing highprofile cases. The writ petition pertains to the suspected overinvoicing of coal .
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WEBOct 17, 2023 · 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 ...
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WEBNov 3, 2019 · The Delhi High Court had directed DRI to file an affidavit as it is hearing a public interest litigation (PIL) filed by senior advoe Prashant Bhushan on the alleged overvaluation of Indonesian coal and power equipment imports by about 40 firms in the country to the tune of Rs 29,000 crore. According to the DRI affidavit, it has adjudied ...
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WEBOct 18, 2019 · According to the DRI, petitioners were involved in the overvaluation of coal of Indonesian origin and it is alleged that during the period from October 2010 to March 2016, Adani Group of Companies ...
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WEBNEW DELHI, Nov 17 (Reuters) 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 ...
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WEBOct 17, 2019 · In April 2018, the Customs, Excise Service Tax Appellate Tribunal had rejected a DRI plea seeking over Rs 29,000 crore from a clutch of these 40 companies for alleged overvaluation of coal ...
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WEBJan 8, 2020 · Industrialist Gautam Adani in New Delhi (Express Photo by Anil Sharma) The Supreme Court on Wednesday stayed the Bombay High Court order that quashed the Letters Rogatory (LRs) sent by the Directorate of Revenue Intelligence (DRI) to foreign countries pertaining to alleged overvaluation of Indonesian coal imports from 2011 to .
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WEBJan 8, 2020 · 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 ...
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WEBOct 31, 2019 · 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 .
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