WEBJul 18, 2022 · Stateowned 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, .
WEBThe Bombay HC had quashed all global information requests the DRI had sent to foreign countries pertaining to alleged overvaluation of coal imports by two Adani firms. Gautam Adani. Photo: Reuters
WEBFeb 10, 2023 · Probe sought into Adani company's profits from overpriced, dirty coal. A Chennaibased NGO is seeking action regarding allegations that the Adani Group has profiteered by overcharging for substandard coal in Tamil Nadu. The 'greatest con in corporate history' is actually a collection of many smaller cons, such as Adani's alleged ...
WEBMar 27, 2023 · 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. .
WEBJun 21, 2019 · The DRI probe against Adani and other companies commenced 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.
WEBOct 17, 2019 · HC quashes Letters Rogatories issued in Adani coal import case The court said it did not go into merits of LRs issued by a metropolitan magistrate but found that due procedure had not been ...
WEBOct 12, 2023 · In export records the price was mn, plus 42,000 for shipping and insurance. On arrival at India's largest commercial port, Mundra in Gujarat run by Adani, the declared import value was mn." In one instance, the value of a shipment of coal was shown as Rs 139 million ( million) when the ship left an Indonesian port.
WEBSep 20, 2018 · Earlier this year, following the LRs, a Singapore court had asked the Adani group to produce documents pertaining to Indonesian coal imports under the ongoing probe by the DRI. Adani Enterprises appealed to the Singapore high court against the lower court order but was denied relief. It then approached the Bombay HC seeking quashing of the .
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%.
WEBOct 18, 2019 · Bombay HC Quashes LORs Issued By DRI For Probe Into Alleged Evasion Of Customs Duty By Adani In Import Of Indonesian Coal. Nitish Kashyap .
WEBNov 5, 2023 · DRI conducts search operation at Havells India corporate office in Noida The search was conducted over "alleged misclassifiion in import of Heating Element," the company said
WEBDec 19, 2023 · The Delhi High Court on Tuesday ordered the Directorate of Revenue Intelligence (DRI) and the Central Bureau of Investigation (CBI) to "meticulously and expeditiously" look into the allegations of overinvoicing by power companies belonging to the Adani Group, Essar Group and others [Centre for Public Interest Litigation and Anr v .
WEBJan 13, 2020 · Business/Profession; Capital Gain; Other Source Of Income; Assessment; Tax Planning ... Head Of Income; Interesting Income Tax; Miscellaneous; CA/CS/CMA Firms; Login; Supreme court Stays Bombay HC Judgement Quashing LRs Issued by DRI in Adani Coal Import case . 13th January 2020. Supreme court Stays Bombay HC .
WEBOct 12, 2023 · The 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 ...
WEBJan 9, 2024 · Delhi HC keeps in abeyance order asking CBI, DRI to probe into alleged overinvoicing by Adani Group On December 19, 2023, the high court had directed the CBI and DRI to meticulously and expeditiously look into the allegations of overinvoicing of imports by various powergenerating companies in India, including the Adani Group and the .
WEBAdani is the India's fastest growing corporate with businesses in key industry verticals resources, logistics, energy and agro. About Us Explore About Us. One Vision One Team. Chairman's Message ... Business Sector Companies. Businesses. Growth is incomplete without goodness. From building assets of national relevance to transforming lives ...
WEBNov 17, 2023 · The Directorate of Revenue Intelligence (DRI) has asked the Supreme Court to restart an investigation into the Adani Group for alleged overvaluation of coal imports. Investigators are seeking ...
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 ...
WEBJan 9, 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 .
WEBApr 5, 2016 · A major scam involving several energy companies and traders, including some in the state sector, has been unearthed involving alleged overinvoicing of imported coal including through a tax haven to siphon off money abroad and charge higher power tariffs, according to DRI sources. The companies include some of the biggest names in .
WEBSep 12, 2016 · The Directorate of Revenue Intelligence (DRI) has issued show cause notices to 10 public and private sector energy companies, including the Adani Group, Anil Dhirubhai Ambani Group (ADAG) and Essar Group firms. The notice is for allegedly inflating the value of coal imports from Indonesia for their power plants to siphon money aboard .
WEBNov 17, 2023 · Adani Enterprises and its subsidiaries, led by billionaire Gautam Adani, have successfully mounted repeated legal challenges in India and Singapore to block the documents' release, court papers has denied wrongdoing, saying that Indian authorities assessed its coal shipments before releasing them from ports. In an Oct. 9 .
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 ...
WEBFeb 8, 2023 · Adani Power on Wednesday reported 96 per cent decline in consolidated net profit at Rs crore for December quarter 202223 mainly on the back of higher expenses. ... cites high coal import costs Adani Power on Wednesday reported 96 per cent decline in consolidated net profit at Rs crore for December quarter 202223 .
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 ...
WEBUpdated On Nov 17, 2023 at 11:07 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. The Directorate of Revenue .
WEBJan 9, 2020 · 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 prevented DRI from .
WEBNov 17, 2023 · 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 ...
WEBDec 19, 2023 · The Delhi High Court has directed the CBI and DRI to investigate allegations of overinvoicing of imports by power generating companies, including the Adani Group and the Essar Group.
WEBJun 28, 2019 · According to a showcause notice issued by DRI to Reliance Infrastructure and Rosa Power in August 2016, the two firms not only violated the Customs norms but also violated other laws like the Electricity Act, 2003, Income Tax Act, 1961, Foreign Exchange Management Act, 1999, Prevention of Money Laundering Act, 2002, .
WEBApr 3, 2022 · India's southern Andhra Pradesh has cancelled bids made for two separate tenders by India's Adani Enterprises to supply imported coal as the prices quoted were too high, two state government ...
WEBOct 31, 2019 · A Bombay High Court order in a case relating to alleged overinvoicing of coal imported from Indonesia by a company in the Adani group threatens to undermine the capabilities of India's investigative agencies and should be challenged. By Abir Dasgupta, Paranjoy Guha Thakurta. On October 17, the Bombay High Court ruled in favour of a .
WEBSep 19, 2018 · Read Top Business News and updates on financial, economic and banking news on CNBCTV18. Mukhtar Ansari was subjected to slow poisoning in jail, says his son. GE prepares to cut 1,000 jobs in LM Wind. World Bank unlocks secret data for emerging market finance.
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.
WEBMar 26, 2018 · The coal ministry has alloed the block to NLC India for development, mining and captive consumption of the dry fuel from the blocks in its various end use power plants. NLC had floated a tender for selection of MDO for development and operation of the two Talabira blocks in November 2017 and reverse auction was conducted in January, .
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