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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WEBNov 17, 2023 · Since 2016, the Directorate of Revenue Intelligence (DRI) has been actively seeking transaction records linked to Adani's dealings from Singapore authorities The Adani Group is currently the focus of renewed scrutiny by Indian authorities, who are investigating suspicions of inflating the value of coal imports, as re
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WEBThis practice likely led to substantial profits for Adani while contributing to air pollution due to the burning of lowgrade coal. Invoices from January 2014 show Adani purchased coal with a calorific value of 3,500 calories per kilogram and sold it to Tangedco as 6,000calorie coal, doubling its money after transport costs.
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WEBMay 23, 2024 · The coal is directly shipped to India, and the invoice travels through a circuitous route. By the time the invoice reached India, the coal had 6,000Kcal, and the price shot up to ! https://t ...
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WEBOct 13, 2023 · The FT identified 2,000 shipments totaling 73 million tonnes of coal declared as Indian imports by Adani companies between September 2021 and July 2023. For the 42 million tonnes supplied by Adani's own operations in that time, the declared average price per tonne was 130. However, for the 31 million tonnes supplied by the three ...
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WEBJan 9, 2024 · A bench of Justices Suresh Kumar Kait and Neena Bansal Krishna, while noting in its January 5 order that a petition filed by the Commissioner of Customs (Import) in a matter involving Adani Power Maharashtra Limited is pending before the Supreme Court, said its December 19, 2023 directions to the CBI and DRI in respect of Adani Group .
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WEBJul 19, 2021 · Subsequently, DRI passed an order in favour of Adani Power confirming that there is no overvaluation of equipment. The department has approached the Tribunal and the matter stands sub judice now. Adani Group is a responsible corporate citizen and strongly believes in compliance of applicable laws and adheres to prudent corporate .
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WEBApr 6, 2023 · The allegations have been made by the Ministry of Finance's Directorate of Revenue Intelligence (DRI), the intelligence wing of the Ministry. They are outlined in a showcause notice sent by the DRI to various Adani Group companies and to Vinod Adani, older brother of Gautam Adani. It alleges that an entity named Electrogen Infra FZE (EIF ...
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WEBSep 28, 2021 · The Adani cases at the CESTAT. In the current appliion by the Adani companies seeking an early hearing at the CESTAT where the DRI has appealed K V S Singh's order dismissing its investigations into the three Adani Group companies, the DRI sought to make a similar argument as it did in its affidavit before the Delhi High Court.
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WEBFeb 4, 2023 · The Directorate of Revenue Intelligence ( DRI) has moved the Supreme Court challenging an order of the Customs, Excise Service Tax Appellate Tribunal ( CESTAT) quashing a case pertaining to overinvoicing allegations levelled by the Directorate of Revenue Intelligence (DRI) against two Adani group firms.
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WEBJun 2, 2024 · More than a decade after India's "Coalgate" scandal rocked the previous government, a different coal scam involving alleged overinvoicing of imported coal by major corporations like Adani, Reliance, Tata and Essar has seemingly been brushed under the carpet. Despite evidence unearthed by investigative agencies like the .
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WEBJan 9, 2024 · A bench of Justices Suresh Kumar Kait and Neena Bansal Krishna, while noting in its January 5 order that a petition filed by the Commissioner of Customs (Import) in a matter involving Adani Power Maharashtra Limited is pending before the Supreme Court, said its December 19, 2023 directions to the CBI and DRI in respect of Adani Group .
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WEBNew Delhi, Dec 19 (PTI) The Delhi High Court on Tuesday asked the CBI and the Directorate of Revenue Intelligence (DRI) to "meticulously and expeditiously" look into allegations of overinvoicing ...
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WEBAug 16, 2017 · The trust in question is reportedly controlled by Gautam Adani's elder brother Vinod Adani. The publiion on Monday carried a copy of the Directorate of Revenue Intelligence (DRI) investigation report, dated May 15, 2014, that alleges that the Adani Group inflated invoices for an electricity project to move out money to offshore .
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WEBOct 28, 2017 · DRI had issued three showcause notices to Adani Group companies, two for Rs 3,900 crore and Rs 1,500 crore in May 2014 and the third in September 2016 for Rs 1,000 crore for alleged overvaluation ...
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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 · The Delhi High Court has kept in abeyance its order asking the CBI and the Directorate of Revenue Intelligence to "meticulously and expeditiously" look into allegations of overinvoicing of imports by the Adani Group. A bench of Justices Suresh Kumar Kait and Neena Bansal Krishna, while noting in its January 5 order that a petition filed by the .
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WEBMay 23, 2024 · Adani Group overcharged for coal, new evidence bolsters allegations: Report. The DRI had opened a probe almost a decade back to deliberate whether Adani Group and other companies used offshore ...
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WEBFeb 21, 2024 · A key hearing at India's Supreme Court in a case relating to the Directorate of Revenue Intelligence (DRI) investigation into alleged overinvoicing of coal imports by the Adani Group was quietly postponed by six months on 6 February 2024, with no apparent explanation. The court's website states that on that day, when the case was listed ...
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WEBNov 17, 2023 · 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 ...
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WEBMay 23, 2024 · The DRI suspected that coal was directly transported from Indonesian ports to India, while import invoices followed intrie routes. These invoices traversed through one or more intermediaries in global financial centers like Singapore, Hong Kong, Dubai, and the British Islands before reaching the buyer via Adani Global.
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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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WEBMay 23, 2024 · The DRI, under the Union Ministry of Finance, started an investigation nearly a decade ago into whether the Adani group and other companies used offshore intermediaries to inflate the coal price supplied to utilities. Adani won a case in the Bombay High Court that blocked the DRI from seeking shipments, including the invoices .
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WEBJun 24, 2019 · 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 .
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WEBThe apex court also issued notice to Adani Enterprises Ltd on an appeal by the Directorate of Revenue Intelligence (DRI) in the matter connected with the alleged overinvoicing of Indonesian coal ...
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WEBFeb 21, 2019 · DRI alleged that money was being "siphoned" outside the country and the electricitygenerating firms were availing of "higher tariff compensation based on artificially inflated cost of the imported coal". The DRI alleged that Indonesian coal was directly imported from ports in that country to India while import invoices were routed ...
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WEBOct 28, 2017 · DRI had issued three showcause notices to Adani Group companies, two for Rs 3,900 crore and Rs 1,500 crore in May 2014 and the third in September 2016 for Rs 1,000 crore for alleged overvaluation ...
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WEBJun 4, 2024 · Invoices show that in January 2014 Adani purchased an Indonesian shipment of coal said to contain 3,500 calories per kilogramme. The same shipment was sold to the Tamil Nadu Generation and ...
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India is rich in various mineral resources and it is an important mineral processing market
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