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Bangladesh in hot seat over Adani's power deal Al Jazeera

Built by Adani Power Ltd India's largest private power company founded by Gautam Adani the Godda plant in India's Jharkhand state has drawn flak in Dhaka for the "lopsided ...

Exclusive | DRI's 29,000 cr coal case: Bombay HC rules in favour of ...

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.

Imported Coal 'Overvaluation' by Adani Firms Pits DRI ... NewsClick

In 2014, the DRI issued a showcause notice to APML and APRL alleging the overvaluation of imported coal. The DRI alleged that the import invoices of Indonesian coal were routed through intermediaries based in Singapore, Hong Kong, Dubai and the British Islands to artificially inflate its price. The DRI's adjudicating dropped the ...

Time Adani is made accountable: Swamy. Raises doubts on huge Adani's ...

Later talking to media, Swamy said that Adani was the key player in the UPA Government's,000 crores Coal Scam Import and Banks like the State Bank of India (SBI) are trying to help the scamsters by not providing details to probe agencies such as the Department of Revenue Intelligence (DRI).

Adani Group's Coal Import Scandal: Overpriced Coal, Overcharged Indian ...

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 ...

Adani Power Drives Indian Utilities' Coal Imports to 4Year High The Wire

Energy. Trade. 22/Jan/2020. New Delhi: Indian utilities coal imports rose to their highest levels since 2015 and reversed a three year slide, government data showed, mainly due to increased ...

'Overvaluation' of coal imports: DRI moves Supreme Court against Adani ...

The official spokesperson of the Adani Group said, "Since the matter is sub judice, we are refrained from making any statement." 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 ...

Adani wins key coal tender as India acts to avoid energy crisis

Adani, Indias largest trader of imported thermal coal, will deliver 1 million tons to staterun NTPC Ltd., which in October issued its first tender for coal imports in more than two years, the people said, requesting anonymity as the details are still private. ... › Adani wins key coal tender as India acts to avoid energy crisis. The Economic ...

India seeks to restart stalled Adani coal imports probe

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.

MMTC among two state firms inflating coal imports: DRI

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 ...

Government seeks to revive probe into Adani coal imports

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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How Gautam Adani's coal empire made him one of the world's richest men ...

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 ...

DRI Accuses Adani Group Firm of Impeding OverInvoicing Probe in Bombay ...

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 ...

Coal import case: DRI moves SC against relief order to Adani group

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 ...

Coal overinvoicing case: 4 years on, DRI vs Adani in SC to be heard ...

On October 10, hearing a case regarding the alleged ove rinvoicing of Indonesian coal imported by the Adani Group, the Supreme Court clubbed the matter with another case related to alleged smuggling of dutyfree gold by a Hyderabadbased jeweller.. It was in November 2019, that the DRI had moved the apex court against a Bombay High Court order in favour of the Adani Group.

Adani coal imports: Group trying to obstruct investigation in coal ...

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 ...

Adani group shares fall after media report on alleged overpricing of ...

Stating that it examined 30 shipments of coal from Indonesia to India by an Adani company over 32 months between 2019 and 2021, FT in its report said, "in all cases prices in import records were ...

Adani Letters Rogatory Judgment: Why Finance Ministry Must Appeal

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 (SBI) through which ...

ADANI COAL SCAM The Economic Times

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.

The mystery of the Adani coal imports that quietly doubled in value

The records show that over the past two years, Adani used offshore intermediaries in Taiwan, Dubai and Singapore to import 5bnworth of coal at prices that were at times more than double the ...

Gautam Adani | Adani Group imported coal well above market prices ...

The Adani group had been so rattled by reports that the newspaper's journalists had started an exhaustive investigation into coal imports by the group — often rapping on doors, making calls, emailing questionnaires and even shoving written questions under the door of one office in Singapore — that they took the unprecedented step of making a regulatory filing with the bourses to rubbish ...

Billionaire Adani is winning from India's shift to import coal

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.

Coal Import Scam: Adani Company Is Trying to Impede Investigation, DRI ...

In another attempt to take its investigation forward in the multicrore coal import scandal, the Directorate of Revenue Intelligence (DRI) filed an affidavit with Bombay High Court on June 13 challenging a petition by Adani Enterprises Ltd (AEL) that sought the quashing of DRI's letters regotary (LR) to foreign jurisdictions.. DRI told the court that AEL is trying to "impede" its probe ...

India seeks to restart stalled Adani coal imports probe ETCFO

Reuters. Updated On Nov 17, 2023 at 10:05 AM IST. 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 evidence from Singapore, a step they say the company thwarted for years, legal documents show.

INDONESIA COAL IMPORT The Economic Times

Coal imports case: SC to hear in February DRI's appeal against Bombay HC order quashing LRs 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 alleged overvaluation of Indonesian coal imports.

Adani News Live: SC dismisses DRI's petition against Adani firms in ...

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 ...

DRI concludes investigation into Adani Group's power imports ...

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.

Coal Imports: Supreme Court revives probes against Adani firms

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 ...

Gautam Adani ramps up share of coal imports as power crisis grips India

Adani Power, the country's largest private power company, increased coal imports to tonnes in June from 154,000 tonnes the previous year. Together, the Adani subsidiaries accounted for...