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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WEBDec 19, 2023 · Last month, the DRI sought permission from the Supreme Court to restart a probe into the Adani Group for the alleged overvaluation of coal imports and also requested the apex court's approval to ...
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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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WEBJan 1, 2014 · The DRI report, which claims to explain the modus operandi followed by the group, claims that a Dubaibased entity was at the heart of the alleged overinvoicing." Various entities of Adani Group were indulging in gross overvaluation of imported goods (zero or lowduty rated) to siphon off money abroad.
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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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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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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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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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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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WEBAug 29, 2018 · The DRI alleged that in certain cases, the import value of Indonesian coal was artificially inflated by about 50 to 100 per cent by changing test reports which measure the calorific value of coal. The DRI also raided over 80 shipping companies, labs and intermediaries including many in Maharashtra, Delhi, Gujarat, Karnataka, Odisha, West .
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WEBMay 22, 2024 · The NGO estimated that a total of Rs60bn (720mn) was wasted in Tangedco's procurement of coal between 2012 and 2016. "Out of this, given that Adani supplied about half of it, the loss caused ...
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WEBMay 22, 2024 · Invoices reveal that in January 2014, Adani Bought Indonesian coal rated at 3,500 calories per kilogramme, and went on to sell that shipment to the Tamil Nadu Generation and Distribution company (Tangedco) as 6,000calorie coal, one of the most valuable grades. Adani appears to have more than doubled its money in the process, .
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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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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 · Delhi HC keeps in abeyance order asking CBI, DRI to look into allegations of overinvoicing by Adani group A bench of Justices Suresh Kumar Kait and Neena Bansal Krishna, while noting in its ...
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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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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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WEBMar 14, 2023 · Ramesh said that in a March 13, 2023 Lok Sabha reply, the minister of state for finance stated that an investigation into alleged overinvoicing by the Adani Group of imported Indonesian coal being conducted by India's premier antismuggling agency Directorate of Revenue Intelligence (DRI) had "not reached finality as the information .
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WEBNov 17, 2023 · Since 2016, DRI has been trying to procure transaction documents related to Adani's dealings from Singapore authorities as it suspects many of the group's coal shipments imported from Indonesian ...
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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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WEBFeb 4, 2023 · According to reports, the DRI has alleged that Adani Group inflated bills for two companies. However, the CESTAT had denied the allegations. The companies in question are Adani Power Maharashtra ...
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WEB25 Jan 2018, 1:31 pm. Two days after a CBI probe into an alleged Rs 487 crore coal scam made headlines, a Tamil Nadu based anticorruption NGO has said that the rot runs deeper than predicted by ...
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WEBThe DRI has been investigating Adani's coal imports since 2016, suspecting overvaluation through billing higher prices on paper to its Singapore unit before being billed to its Indian arms, news ...
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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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WEBDec 1, 2023 · The first section was on how Adani Group companies overinvoiced power equipment imported for two coalbased power plants in the states of Maharashtra and Rajasthan in western India. ... (Figure 4 is an extract from a 'show cause' notice dated 15 May 2014 issued by India's DRI to the two Adani Power subsidiaries embroiled in the .
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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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