An investigation by the Directorate of Revenue Intelligence into overinvoicing of imports of coal and power generating equipment has tasted defeat in a tribunal. The DRI intends appealing the tribunal's decision. A Delhi based company, Knowledge Infrastructure Systems Private Limited, which has been accused of overinvoicing coal imported from Indonesia and had faced penalties imposed on it ...
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Email, phone calls and text message to the official spokesperson of Adani Group remained unanswered. 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 ...
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16 Nov 2023, 9:21 pm The Adani Group is currently the focus of renewed scrutiny by Indian authorities, who are investigating suspicions of inflating the value of coal imports, as reported by...
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The government is seeking to restart a probe into Adani Group coal imports ... The DRI won a magistrate court's approval in 2016 whereby that court agreed to send letters of request to the ...
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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 ...
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On October 10, hearing a case regarding the alleged overinvoicing 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.
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The request is part of an investigation by India's Directorate of Revenue Intelligence (DRI) into a alleged fraud by 40 power companies including six Adani subsidiaries.
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Five 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...
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Adani has denied wrongdoing, saying that Indian authorities assessed its coal shipments before releasing them from ports. — Reuters. Indian investigators are seeking to restart a probe into ...
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On February 27, 2016, the DRI arrested Manoj Kumar Garg, a Hong Kongbased Indian national who had allegedly opened a front company in Dubai responsible for overvaluing imported coal to the tune ...
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Five Adani companies were among 40 importers named by the DRI in a notice of an investigation that they were "artificially inflating" the value of Indonesian coal to siphon off money abroad and overcharge Indian power companies.
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The DRI sent demands for information about Adani just before Modi took office in May 2014, after a campaign in which he crisscrossed the country in an Adani jet and helicopters.
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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 ...
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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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Five 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 ...
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The DRI went on to claim that total exports of CPD by the Indian companies in the Adani Group in 200405 were worth 1, million, out of which goods worth 1, million (or % of the ...
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Adani has denied the charges, both those levelled by Hindenburg and then of coal import overpricing by the Financial Times and said it has been vindicated by the Directorate of Revenue...
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Debt, not coal, delivers 388m profit to Adani. Controversial coal miner Adani Mining has posted a fullyear profit of million in Australia without selling as much as a bucket of coal ...
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In 2016, the DRI issued a notice naming five Adani companies and five others supplied by the group among 40 importers under investigation for "artificially inflating" the value of Indonesian coal. The notice indicated a significant overvaluation, ranging from 50% to 100%, as per comparisons of export and import records.
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New Delhi: The Directorate of Revenue Intelligence (DRI) has accused the Adani Enterprises Ltd (AEL), in its June 13 affidavit to the Bombay High Court, of trying to "impede" its probe against...
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The stay order revives the letters rogatory issued against Adani Enterprises in the probe on alleged overstating of the value of coal imported in India—involving as many as 231 consignments between 2010 and 2016—to avail higher power tariff compensation.
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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 (CESTAT). "Further, the DRI's appeal was dismissed as withdrawn by the Supreme Court of India on January 24, 2023 with the observation that "we appreciate the stand taken by the government in not ...
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The Directorate of Revenue Intelligence (DRI) is seeking to resume its inquiry into allegations of the Adani Group overvaluing coal imports, as reported by Reuters. The DRI has approached the Supreme Court for permission to gather evidence from Singapore. In 2016, the tax intelligence agency had issued a circular, asserting that Adani Group ...
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A material supplier from Belgium would like to produce limestone powder for his custome...
India is rich in various mineral resources and it is an important mineral processing market
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