WEBOct 10, 2023 · The Customs, Excise Services Tax Appellate Tribunal (CESTAT) had however quashed the case. DRI 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 quashed by the appellate tribunal .
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WEBSep 19, 2018 · The Bombay High Court on Wednesday granted interim relief to the Adani group by restraining the Directorate of Revenue Intelligence (DRI) from giving effect to the letters rogatory (LRs) issued to several countries against three group companies in an alleged case of overvaluation of Indonesian coal imports in the past. A bench of justices .
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WEBOct 18, 2019 · In a major relief to Adani Enterprises Limited (Adani), the Bombay High Court on Thursday set aside all Letter Rogatory (LRs) issued on the request of the Directorate of Revenue Intelligence (DRI) to Singapore and other countries to investigate the Adani Group firms for the alleged overvaluation of Indonesian coal imports between .
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WEBOct 12, 2023 · FT says that Adani has been using offshore intermediaries in Taiwan, Dubai and Singapore to import 5 billion worth of coal at prices that were "at times more than double" the market price. A Taiwanese entrepreneur, recently identified by the Financial Times as a significant concealed stakeholder in Adani firms, owns one of these .
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WEBIndian import data since July 2021 indies Adani paid a total of to the three companies for coal sourced at substantial premiums to market prices. The FT identified 2,000 shipments totalling 73mn tonnes of coal declared as Indian imports by Adani companies between September 2021 and July 2023 in the Export Genius database.
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WEBJan 10, 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 .
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WEBJan 9, 2020 · Prime Exclusives. The Supreme Court stayed the Bombay High Court's order quashing the Directorate of Revenue Intelligence (DRI) seeking information about the alleged Rs 29,000crore overinvoicing by Adani Enterprises Limited in connection with coal imports from Indonesia. The Solicitor General argued the high court order had .
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WEBDec 19, 2023 · The Delhi High Court on Tuesday directed the Central government, the Central Bureau of Investigation (CBI), and the Directorate of Revenue Intelligence (DRI) to 'meticulously' and 'expeditiously' investigate allegations of overinvoicing of coal imports and equipment by companies, which includes the Adani Group and Essar Group, and .
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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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WEBJan 9, 2024 · The Delhi High Court recently passed an order keeping in abeyance its earlier directions to the Directorate of Revenue Intelligence (DRI) and the Central Bureau of Investigation (CBI) to examine allegations of overinvoicing by power companies belonging to the Adani Group [Centre for Public Interest Litigation and Anr v. Union of India and Ors].
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WEBOct 18, 2023 · The FT also examined 30 shipments of coal from Indonesia to India by an Adani company over 32 months between 2019 and 2021. In all cases, prices in import records were far higher than those in ...
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WEBNov 17, 2023 · 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 ...
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WEBOct 18, 2019 · The HC 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 .
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WEB08 Jan 2020, 8:48 pm. NEW 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 ...
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WEBJan 8, 2020 · According to the DRI, petitioners were involved in the overvaluation of coal of Indonesian origin and it is alleged that during the period between October 2010 to March 2016, Adani Group of ...
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WEBSupreme Court Stays Bombay High Court Order In Adani Coal Import Case
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WEBOct 17, 2019 · AEL in its petition in the Bombay High Court claimed the LRs were issued by DRI without cognizance of any offence or registering of First information Report against the Adani firms in the coal also said that the LRs were issued without any notice and hearing the companies.. The DRI probe against Adani and other companies began after .
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WEBJan 8, 2020 · The DRI had initiated investigations in March 2016 against a few Adani group firms for alleged overinvoicing of coal imports between 2011 and 2015. A bench headed by Chief Justice Bobde on ...
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WEBOct 31, 2019 · 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 .
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WEBJan 9, 2024 · On December 19, 2023, the high court had directed the CBI and DRI to "meticulously and expeditiously" look into the allegations of overinvoicing of coal imports as well equipment by several power companies including those of the Adani Group and Essar Group to "unearth actual factual position and take appropriate actions against the ...
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WEBSep 15, 2016 · The 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%.
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WEBNov 17, 2023 · The 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 .
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WEBThe Wire: The Wire News India, Latest News,News from India, Politics, External Affairs, Science, Economics, Gender and Culture
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WEBOct 18, 2019 · The Directorate of Revenue Intelligence is investigating at least 40 companies, including those from the Adani Group, Anil Dhirubhai Ambani Group and Essar Group, for alleged overvaluation of coal ...
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WEBNov 18, 2023 · The DRI is probing at least 40 companies for alleged overvaluation of coal imports from Indonesia pegged at Rs 29,000 crore between 2011 and 2015. The list includes six Adani companies including Adani Enterprise and Adani Power. The Adani Group has denied any wrongdoing.
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WEBJul 20, 2022 · Together, the Adani subsidiaries accounted for 35 per cent of India's coal imports from April to June this year, reflecting the group's growing dominance of the country's infrastructure ...
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WEBNov 17, 2023 · 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 .
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WEBBy CNBCTV18 January 8, 2020, 3:13:48 PM IST (Updated) The Supreme Court on Wednesday stayed the Bombay High Court ruling that gave relief to the Adani Group in an alleged case of overvaluation of Indonesian coal imports between 2011 and 2015. The apex court has also revived the Directorate of Revenue Intelligence (DRI) investigations .
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India is rich in various mineral resources and it is an important mineral processing market
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