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 ...
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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.
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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 ...
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Project shrank to onesixth of original plan. 2 bln coal terminal key to mine's future. MELBOURNE, Dec 27 (Reuters) India's Adani Group () is preparing to ship the first coal cargo from ...
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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 ...
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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.
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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.
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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.
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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 ...
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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.
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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 ...
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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.
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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 ...
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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 ...
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The Indian revenue agency did not respond to Reuters' queries. The effort to revive the coal probe comes amid wider regulatory scrutiny of Adani since Hindenburg Research in January accused the tycoon and his conglomerate of improper use of tax havens and stock manipulation. Despite Adani's denials, the short seller's report triggered a USD 150 ...
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The high court 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 at Rs 29,000 crore between 2011 and 2015.
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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.
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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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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."
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The DRI has alleged that several entities, including the Adani group, through a maze of companies in different sovereign jurisdictions, have overvalued coal imports as compared to actual export ...
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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 ...
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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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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 ...
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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.
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Milestones at a glance. Pioneering the Mine Developer and Operator (MDO) model in 2009. Commissioned coal handling plant of 15 MTPA, washery of 10 MTPA. Aiming to be one of the largest mining groups in the world. Adani Enterprises Ltd is India's first private mining company who pioneered the concept of Mine Developer and Operator (MDO)
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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 quashing ...
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India's main opposition party has called for an investigation of the country's Adani Group over allegations reported by the Financial Times that the conglomerate appeared to have inflated the ...
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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 ...
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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.
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Buy Now. The Supreme Court stayed the Bombay High Court's order quashing the Directorate of Revenue Intelligence (DRI) seeking information about the alleged Rs 29,000crore overinvoicing by Adani Enterprises Limited in connection with coal imports from Indonesia. The Solicitor General argued the high court order had prevented DRI from ...
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In 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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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 ...
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يرغب أحد موردي المواد من بلجيكا في إنتاج مسحوق الحجر الجيري لملابسه...
الهند غنية بالموارد المعدنية المختلفة وهي سوق مهم لمعالجة المعادن
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