The 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.
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A bench headed by Chief Justice Bobde issued notices to Adani Enterprises on the appeal filed by DRI in the DRI had initiated investigations in March 2016 against a few Adani...
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"The FT's proposed story is based on the DRI's General Alert Circular /2016/CI dated 30 March 2016. ... the fact that coal procurement in India on longterm supply basis is done through ...
The Directorate of Revenue Intelligence (DRI) has decided to get strict with SBI and Bank of Baroda for hiding evidence against corporate entities involved in the Rs 29,000 crore coal import scam and not cooperating in the investigation against them. Listen to Story Share Advertisement Picture for representational purpose only.
Interestingly, while the CBI has closed the case, the Directorate of Revenue Intelligence (DRI) which first unearthed the alleged overvaluation of low quality Indonesian coal imports scam pegged at Rs 29,000 crore says that its probe against Bhatia International and 40 other prominent coal importers including a few firms of the Adani Group, Essar Group and the Anil Ambani Group is still on.
New Delhi | Updated: November 18, 2023 11:43 IST Follow Us 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. The case has been heard five times in four years and is yet to reach the stage of final arguments. Listen to this article 00:00 1x
New Delhi | Updated: October 14, 2023 07:34 IST Follow Us The Additional Solicitor General, representing DRI, drew the apex court's attention on October 10 to a recent order by a different bench in another case involving the agency.
April 28, 2022 04:30 IST. At its Raigarh unit in Chhattisgarh, JSPL will raise capacity to mtpa from mtpa now by 203031. Sanguine about the steel sector's prospects within and an ...
The LR documents contain the actual price of coal before it was allegedly inflated. The Directorate of Revenue Intelligence (DRI), on November 19, filed a special leave petition (SLP) in the Supreme Court challenging a Bombay High Court order that has quashed all letter rogatories (LRs) sent by the agency to foreign countries in connection with the alleged overvaluation of Indonesian coal ...
Pledge of 13 lakh more shares of Adani Transmission took the total to per cent, the filings showed. The additional pledges are part of a USD 300 million letter of credit issued by a bank to another bank as a guarantee for payments made provided by SBI for Adani Group's Carmichael coal mining project in Australia.
The 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 ...
According to Indian Express, one Gautam Kumar, who had recently cleared the Bihar Public Service Commission exam, was kidnapped from the school he teaches in, and forced to marry kidnappers daughter.
In 2014, the DRI issued a showcause notice to APML and APRL alleging the overvaluation of imported coal. The DRI alleged that the import invoices of Indonesian coal were routed through intermediaries based in Singapore, Hong Kong, Dubai and the British Islands to artificially inflate its price. The DRI's adjudicating dropped the ...
Coal import 'overvaluation case': DRI's showcause notice upheld | India News The Indian Express Elections 2023 Advertisement News India Coal import 'overvaluation case': DRI's showcause notice upheld Premium Coal import 'overvaluation case': DRI's showcause notice upheld
It needs bouquets rather than brickbats. This column first appeared in the print edition on October 18, 2021 under the title 'The fall guy'. The writer is former chairman, Coal India Ltd. Partha Bhattacharyya writes: Coal India has been meeting the demand for coal, helping generate power at affordable tariffs.
Coal blocks allocation cases Explained: The allegations, investigation, and what next The coal blocks allocation cases are among the CBI's longest running probes, with the agency last registering a fresh FIR in the case in January 2020. It has since 2012 filed multiple chargesheets and even closed many cases for lack of evidence or culpability.
DRI, Indian Coast Guard seize over 32 kg gold worth ₹ crore in two cases in Tamil Nadu. 1 min read 01 Jun 2023, 09:20 PM IST Join us. Staff Writer.
In its status report filed on March 8,the CBI had said that the coal block allocation during 200609 was done without verifying the credentials of companies which allegedly misrepresented facts about themselves and no rationale was given by the Coal Ministry in giving coal blocks to them. CBI has so far registered 11 FIRs in the matter.
State Bank of India (SBI) on Monday said the fresh pledge of shares of three Adani Group companies was on account of the requirement to topup the collateral for its coal mine project in Australia.
The DRI has alleged that several traders are directly importing Indonesian coal but the invoices are "routed through one or more related /associated intermediary firms based abroad" after artificially inflating its value. To justify the inflated price, "manipulated test reports" of the quality of coal is submitted to PSUs and Customs.
DRI probe may affect Rs 800crore relief to Adani The DRI alleged at least 40 power generating firms imported Indonesian coal directly from ports in that country to India while import invoices were routed through one or more intermediaries based in Singapore, Hong Kong, Dubai and British Islands to artificially inflate its value.
Coal India News Updates: Get Latest Breaking News, Photos and Video News on Coal India. ... Find Coal India news headlines, photos, videos, comments, blog posts and opinion at The Indian Express. Sections. English; ... Strong case to hike coal prices, could happen soon: Coal India chairman. March 20, 2023 1:01 pm.
The DRI case against the Adani Group assumes significance as the Central Electricity Regulatory Commission (CERC) had in November 2017 pointed out that findings of the probe into alleged overinvoicing of Indonesian coal importsbyadanipowerwouldaffect the compensation it received from distribution companies in Haryana.
How to use YONO SBI NRI account opening service: State Bank of India (SBI) has introduced a digital facility for. Updated: September 18, 2023 20:36 IST IndusInd Bank launches 'NRI homecoming ...
The Securities Appellate Tribunal has stayed trading restrictions imposed on Assam Company India, which is among the 331 suspected shell companies identified by the government.
New Delhi: The Central Bureau of Investigation (CBI) on Thursday filed two more first information reports (FIRs) in the case related to the irregular allocation of coal mines.
The Directorate of Revenue Intelligence (DRI) has asked the Central Bureau of Investigation (CBI) to probe two Reliance ADAG firms — Reliance Infrastructure Ltd and Rosa Power Supply Co Ltd — in connection with the alleged overvaluation of imported Indonesian coal between 2010 and 2015, sources told The Indian Express. Sources said the DRI ...
Industrialist Gautam Adani in New Delhi (Express Photo by Anil Sharma) The 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.
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