Adani Enterprises has denied a news report even before it has been published. In a regulatory filing with the bourses, Adani Enterprises — the flagship company of the Adani group — accused Londonbased Financial Times of malicious bias in regurgitating old allegations that it had overinvoiced coal imports. The group slammed the financial ...
WhatsApp: +86 18838072829Indian energy minister Piyush Goyal told Economic and Political Weekly that the DRI was "investigating cases related to misdeclaration of value (over invoicing) of coal imported from Indonesia...
WhatsApp: +86 18838072829Direct Reduced Iron (DRI) production has increased tremendously since 1980, from essentially zero to over 21Mt in 2008, as shown in Fig 1. Of the total DRI production in 2008, 74% was produced from coal in rotary kilns and 26% from natural gas in shaft furnaces. India is now the world's largest producer of DRI.
WhatsApp: +86 18838072829Pan Asia Tradelink, previously named Pan Asia Coal Trading, has supplied Adani with tonnes of coal for since September 2021, according to customs records reviewed by the FT. The ...
WhatsApp: +86 18838072829DRI (containing 9094% total iron) is an excellent feed stock for electric furnaces used by mini steel plants, allowing them to use lower grades of scrap for the rest of
WhatsApp: +86 18838072829In March 2016, the agency issued a general alert to its field formations across India, outlining the modus operandi of overinvoicing of coal imports from Indonesia. The DRI alleged that money was being "siphoned" outside the country and the electricitygenerating firms were availing of "higher tariff compensation based on artificially ...
WhatsApp: +86 18838072829Shangliao Sun. The production volume of coalbased sponge iron in India accounted for more than million metric tons at the end of 2022. It reflected an increase from the previous year's more ...
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WhatsApp: +86 18838072829The DRI is probing at least 40 companies, including two companies of the Adani Group, 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. ... According to a showcause notice issued by DRI to Reliance Infrastructure and Rosa Power in August 2016, the two ...
WhatsApp: +86 18838072829In book: Encyclopedia of Iron, Steel, and Their Alloys ( ) Chapter: i) Direct Reduced Iron: Production; Publisher: CRC Press, Taylor and Francis Group, New York.
WhatsApp: +86 18838072829The company said it has been vindicated by the DRI's decision this year to withdraw an appeal to the Supreme Court in a case against one of the 40 importers named in 2016.
WhatsApp: +86 18838072829DRI went in for an appeal but the Supreme Court this year dismissed its petition. Adani Group in the statement said the DRI's show cause notice alleging overvaluation in the import of coal was ...
WhatsApp: +86 18838072829Adani Group said in the case of Knowledge Infrastructure, one of the 40 importers mentioned in the General Alert Circular, the DRI's Show Cause Notice alleging overvaluation in the import of ...
WhatsApp: +86 18838072829In this paper, an integrated process was developed to beneficiate low grade siderite ore and upgrade inferior coal simultaneously to yield DRI powder and semicoke. Based on bench scale results, the pilot scale verification tests were conducted and the final DRI concentrate assaying % Fe total, % metallization degree was obtained at ...
WhatsApp: +86 18838072829In this paper, the process of direct reduction roasting using magnetic separation to produce direct reduction iron (DRI) from highphosphorus oolitic hematite, using coal slime and blast furnace dust as reductant, is investigated. The possible use of slime coal and blast furnace dust as reductant and the dephosphorization behavior during the process of direct reduction was studied ...
WhatsApp: +86 18838072829Adani 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 ...
WhatsApp: +86 18838072829The DRI has monitored the details of coal imports of these companies till 31 March 2016, information accessed by the authors suggests. Web of Scams. This revelation comes weeks after the DRI secured the first arrest of an accused person who was allegedly involved in overinvoicing of coal imported from Indonesia.
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WhatsApp: +86 18838072829The DRI found as many as 40 companies were engaged in importing of Coal from Indonesia to Indian power plants. 90% of the coal is imported from Indonesia, while about 5% is imported from Australia. Adani Group of companies import around 70% and the second importer Anil Ambani's Reliance Group imports around 5%.
WhatsApp: +86 18838072829The inflated invoices were issued by intermediary invoicing agents in Singapore, Dubai, Hong Kong and British Virgin Islands, among other jurisdictions, according to the DRI alert notice. 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 ...
WhatsApp: +86 18838072829The DRI probe against Adani and other companies began after the agency issued a general alert to its field formations across India in March 2016. Business tycoon Gautam Adani
WhatsApp: +86 18838072829According 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 ...
WhatsApp: +86 18838072829It said the proposed story by the publication is based on the DRI's General Alert Circular dated March 30, 2016. However, the publication has "singled out the Adani Group, while the DRI's circular mentions as many as 40 importers including the Adani Group companies," the statement said.
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WhatsApp: +86 18838072829"The FT's proposed story is based on the DRI's general alert circular.dated 30 March 2016," the company had said in that statement. It wasn't. The FT began its investigation on the premise that even though the DRI case had stumbled, there were reasons to believe that the group had not abandoned the practice of overinvoicing coal ...
WhatsApp: +86 18838072829The DRI probe against all these companies began after the agency issued a general alert to its field formations across India in March 2016, outlining the modus operandi of overinvoicing of coal imports from Indonesia. DRI alleged that money was being "siphoned" outside the country and the electricitygenerating firms were availing of ...
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