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 ...
WhatsApp: +86 18838072829NEW DELHI: 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 ...
WhatsApp: +86 18838072829Billionaire 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.
WhatsApp: +86 18838072829India'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.
WhatsApp: +86 18838072829Indian 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.
WhatsApp: +86 18838072829The 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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WhatsApp: +86 18838072829Milestones 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)
WhatsApp: +86 18838072829Billionaire 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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WhatsApp: +86 18838072829Corporate Fraud Adani coal imports case: Bombay HC quashes DRI's requests seeking judicial help from foreign nations The Directorate of Revenue Intelligence is investigating at least 40 ...
WhatsApp: +86 18838072829The 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 ...
WhatsApp: +86 18838072829Also 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 ...
WhatsApp: +86 18838072829The 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 ...
WhatsApp: +86 18838072829The 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 ...
WhatsApp: +86 18838072829Adani, India's largest coal trader, offered to supply last month 500,000 tonnes of South African coal at 40,000 rupees () per tonne and another 750,000 tonnes at 17,480 rupees () in ...
WhatsApp: +86 18838072829The 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.
WhatsApp: +86 18838072829The 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 ...
WhatsApp: +86 18838072829Adani Group imports Indonesian coal into India via Singapore. Adani Global Pte, the Singapore unit, produced documents at Indian ports that showed a jump in some coal shipments' value and...
WhatsApp: +86 18838072829The nation's Directorate of Revenue Intelligence, or DRI, which is part of the finance ministry, has again reiterated its request to India's Supreme Court to revive an investigation that began in 2015 into an Adani Singapore entity and the alleged overinvoicing of imported coal by billionaire Gautam Adani's companies, according to an October 9 court filing seen by Bloomberg News.
WhatsApp: +86 18838072829The 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 ...
WhatsApp: +86 18838072829The 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 ...
WhatsApp: +86 18838072829Stateowned CIL has cancelled its maiden tender for shortterm import of coal in which Adani Enterprises had emerged as the lowest bidder, sources said on Monday. Adani Enterprises, which had quoted around Rs 17,000plus per tonne for importing MT of coal, was earlier selected for the shortterm shipment. However, for a mediumterm tender for sourcing additional 6 million tonnes (MT) of ...
WhatsApp: +86 18838072829In 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 ...
WhatsApp: +86 18838072829Adani gets HC relief in coal imports case. MUMBAI: In a reprieve to the Adani Group, the Bombay high court on Wednesday granted an interim stay on the letters of request sent by the Directorate of ...
WhatsApp: +86 18838072829On 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.
WhatsApp: +86 18838072829The Supreme Court on Wednesday stayed the Bombay High Court order that quashed the Letters Rogatory (LRs) sent by the Directorate of Revenue Intelligence (DRI) to foreign countries pertaining to alleged overvaluation of Indonesian coal imports from 2011 to 2015 by two Adani firms.
WhatsApp: +86 18838072829The 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.
WhatsApp: +86 18838072829The 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 ...
WhatsApp: +86 18838072829The 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 ...
WhatsApp: +86 18838072829Indian import data since July 2021 indicates that Adani paid a total of billion to these companies for coal sourced at substantial premiums to market prices. The details regarding these ...
WhatsApp: +86 18838072829Reuters. 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.
WhatsApp: +86 18838072829India'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 ...
WhatsApp: +86 18838072829Adani 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...
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