WEBNov 17, 2023 · The Directorate of Revenue Intelligence (DRI) has asked the Supreme Court to restart an investigation into the Adani Group for alleged overvaluation of coal imports. Investigators are seeking ...
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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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WEBSep 15, 2016 · A few days ago Indian Express reported that the DRI had issued notices to Adani Group, Reliance Infrastructure and Essar Group for inflating the price of coal imported from Indonesia during the period . PGurus in July wrote about SBI Chairperson Arundhati Bhattacharya's reluctance to share the details with the DRI.
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WEBMay 22, 2024 · The evidence comes from multiple sources, including invoices and banking documents from several jurisdictions, details of investigations by India's Directorate of Revenue Intelligence (DRI), leaked documents from a key Indonesian coal supplier for Adani, and a trove of documents obtained from the Indian stateowned power company .
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WEBNov 18, 2023 · New Delhi, November 17. 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 collect ...
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WEBOct 13, 2023 · "In 2016, DRI had alleged that 40 Indian companies including Adani Enterprises, Adani Power, Adani Wilmar, Adani Power Maharashtra and Adani Power Rajasthan, were overinvoicing imported Indonesian coal with the goal of 'siphoningoff money abroad' and 'to avail higher power tariff compensation based on artificially .
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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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WEBMay 23, 2024 · The DRI has led an appeal in the Supreme Court. The Arappor Iyakkam said that its request for an investigation into the coal import scam by Tangedco, wherein Adani group had sold lowquality coal imported from Indonesia at an exorbitant price, had been rea rmed by the OCCRP report. Jayaraman Venkatesan of Arappor Iyakkam said .
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WEBSep 13, 2016 · Officials said the overvaluation in the case of Adani and Essar was Rs 800 crore and Rs 500 crore, respectively. In the case of ADAG, the overvaluation is pegged at Rs 350 crore. TOI was the first ...
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WEBSep 6, 2018 · 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 Islands to .
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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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WEBOct 9, 2023 · Having failed earlier, the FT is making another effort to financially destabilise the Adani Group by raking up an old, baseless allegation of overinvoicing of coal imports. The FT's proposed story is based on the DRI's General Alert Circular /2016/CI dated 30 March 2016.
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WEBJan 10, 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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WEBDec 19, 2023 · The Delhi High Court has directed the CBI and DRI to investigate allegations of overinvoicing of imports by power generating companies, including the Adani Group and the Essar Group.
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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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WEBAug 29, 2018 · As per the DRI documents, while Indonesian coal was being shipped directly from Indonesian ports to India, the invoices were routed through one or more intermediaries in tax havens to artificially inflate value, which amounted to Rs 29,000 crore during the period. ... the DRI accused the Adani Group of siphoning,974 crore .
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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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WEBMay 21, 2024 · They suggest that Adani may have fraudulently obtained bumper profits at the expense of air quality, since using lowgrade coal for power means burning more of the fuel. Invoices show that in ...
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WEBNov 4, 2019 · The Directorate of Revenue Intelligence (DRI) has informed a court that it will move the Top Court against the Bombay HC order that quashed all Letters Rogatory (LRs) sent by it to foreign countries in connection with the alleged overvaluation of Indonesian coal imports from 2011 to 2015 by 2 Adani Group firms.. In an affidavit filed on Nov 1, .
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WEBMay 25, 2024 · For its investigation, OCCRP said it relied on "multiple sources, including invoices and banking documents from several jurisdictions, details of investigations by India's Directorate of Revenue Intelligence (DRI), leaked documents from a key Indonesian coal supplier for Adani, and a trove of documents obtained" from TANGEDCO.
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WEBDec 16, 2023 · The DRI said that while the AA relied on the order in the Adani case, there was no evidence to show that the cases were similar. "The AA in the case of M/s. Adani Power Maharashtra Ltd (APML) has held that the two parties, the supplier and the importers, are not related during the relevant period," according to the appeal.
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WEBJan 9, 2024 · The CPIL's counsel had earlier informed the court that the DRI had in March 2016 identified 40 power companies that overinvoiced coal imported from Indonesia. The CPIL has alleged that coal and equipment required for power generation in India are bought from Original Equipment Manufacturers (OEMs) through a foreign intermediary company .
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WEBApr 8, 2016 · The average price of Indonesian coal with a gross calorific value of 3,8004,200 kCal/kg ranged between 38 and 49 a tonne on freeonboard (FOB) basis, according to most international indices.
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WEBMar 14, 2023 · The Directorate of Revenue Intelligence's (DRI) research into the suspected overinvoicing of electricity imports by the Adani Group between 2011 and 2015 is now complete. According to the probe, the corporation may have overstated by up to Rs. 3,000 crores the price of importing power equipment. The Central Board of Indirect Taxes and ...
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WEBFive Adani companies and a further five supplied by the group were among 40 importers named by the DRI in a 2016 notice of an investigation into intelligence that they were "artificially inflating" the value of Indonesian coal to siphon off money abroad and overcharge power companies. ... "supplier's invoices are routed through one or ...
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WEBMay 22, 2024 · On Adani's subsequent invoice to Tangedco the quality jumped to 6,000 calories — as did the price, to 92 per tonne. Other documents suggested the discrepancy was not isolated. A 2014 purchase order lists 32 deliveries of 6,000calorie coal to Tangedco by Adani, totalling tonnes at 91 per tonne.
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WEBMay 24, 2024 · The evidence comes from multiple sources, including invoices and banking documents from several jurisdictions, details of investigations by India's Directorate of Revenue Intelligence (DRI), leaked documents from a key Indonesian coal supplier for Adani, and a trove of documents obtained from Tangedco, OCCRP stated.
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WEBAug 30, 2023 · US employment. Secret paper trail reveals hidden Adani investors. Sebi's chair at the time left in 2017. In March this year he became nonexecutive chair of New Delhi Television (NDTV), owned by ...
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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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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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WEBOct 31, 2019 · On October 17, the Bombay High Court ruled in favour of a company in the Adani Group by passing an order quashing the issuance of letters rogatory (LRs) to various foreign government bodies by the Directorate of Revenue Intelligence (DRI), the investigative arm of India's Customs authorities. The LRs—that are formal requests for .
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India is rich in various mineral resources and it is an important mineral processing market
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