Adani planned to have an operating coal mine in 2014 but is now hoping to ship first coal in 2021. EIS documents planned a 2 million tonne output of coal in 2014, scaling to 27 million tonnes per annum (mtpa) by 2017 and producing a maximum of 60 mtpa by 2022. 1. If Adani's mine had gone to plan, by the end of 2021, the company would have ...
WhatsApp: +86 18838072829The DRI alleged that in certain cases, the import value of Indonesian coal was artificially inflated by about 50 to 100% by changing test reports which measure the calorific value of coal.
WhatsApp: +86 18838072829The apex court through the January 9, 2020, order stayed an October 17, 2019 judgment of the Bombay High Court which granted relief to Adani group by quashing LRs sent to various countries including Singapore, seeking details of the group's coal imports from Indonesia.
WhatsApp: +86 18838072829The DRI is probing at least 40 companies for alleged overvaluation of coal imports from Indonesia, to the tune of Rs 29,000 crore. DRI said that if the HC judgment is not stayed, grave prejudice ...
WhatsApp: +86 18838072829The Adani group had been so rattled by reports that the newspaper's journalists had started an exhaustive investigation into coal imports by the group — often rapping on doors, making calls, emailing questionnaires and even shoving written questions under the door of one office in Singapore — that they took the unprecedented step of making a regulatory filing with the bourses to rubbish ...
WhatsApp: +86 18838072829Billionaire Gautam Adani's conglomerate is benefiting from India's rush to import coal to ease a supply crunch, winning a huge majority of import orders from state power giant NTPC Ltd. New Delhibased NTPC has placed orders for 20 million tons of imported coal for the fiscal year ending March, of which almost million tons have been awarded to Adani Enterprises Ltd., according to ...
WhatsApp: +86 18838072829Adani Power. Two power plants built by the Adani group in Tiroda, Maharashtra and in Kawai, Rajasthan are under the DRI's scrutiny for alleged over invoicing of capital equipment used in power plants. The show cause notices (SCNs) issued in these cases in May 2014 were dismissed by the DRI's adjudicating authority K V S Singh in ...
WhatsApp: +86 18838072829The official spokesperson of the Adani Group said, "Since the matter is sub judice, we are refrained from making any statement." 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 ...
WhatsApp: +86 18838072829The 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 into alleged over invoicing of imported coal by Adani.
WhatsApp: +86 18838072829Milestones at a glance. Pioneering the Mine Developer and Operator (MDO) model in 2009. Commissioned coal handling plant of 15 MTPA, washery of 10 MTPA. Aiming to be one of the largest mining groups in the world. Adani Enterprises Ltd is India's first private mining company who pioneered the concept of Mine Developer and Operator (MDO)
WhatsApp: +86 18838072829Corporate Fraud Adani coal imports case: Bombay HC quashes DRI's requests seeking judicial help from foreign nations The Directorate of Revenue Intelligence is investigating at least 40 ...
WhatsApp: +86 18838072829India's coal imports decline 12 pc in August. India's coal imports in August fell by % to million tonnes compared to the same month last year, according to data from mjunction services ltd. Overall coal imports between April and August also dropped by % to million tonnes.
WhatsApp: +86 188380728291 Mar 2023. New Delhi, India The Indian government granted an extraordinary favour to controversial tycoon Gautam Adani, boosting his coal business, documents reveal. After Prime Minister ...
WhatsApp: +86 18838072829Stateowned 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, for a mediumterm tender for sourcing additional 6 million tonnes (MT) of ...
WhatsApp: +86 18838072829Email, 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 ...
WhatsApp: +86 18838072829At the end of September 2023, GQG owned a % stake in Baba Ramdev's Patanjali Foods through two of his funds, shareholding pattern data shows. In the case of JSW Energy, the multibillion dollar fund owned % stake, % stake in IDFC First Bank and % in Adani Power. The Adani Group stock has more than doubled in FY24.
WhatsApp: +86 18838072829In another attempt to take its investigation forward in the multicrore coal import scandal, the Directorate of Revenue Intelligence (DRI) filed an affidavit with Bombay High Court on June 13 challenging a petition by Adani Enterprises Ltd (AEL) that sought the quashing of DRI's letters regotary (LR) to foreign jurisdictions.. DRI told the court that AEL is trying to "impede" its probe ...
WhatsApp: +86 18838072829Later talking to media, Swamy said that Adani was the key player in the UPA Government's,000 crores Coal Scam Import and Banks like the State Bank of India (SBI) are trying to help the scamsters by not providing details to probe agencies such as the Department of Revenue Intelligence (DRI).
WhatsApp: +86 18838072829The Adani Group, the politically connected conglomerate that dominates large parts of India's economy, appears to have imported billions of dollars of coal at prices well above market value,...
WhatsApp: +86 18838072829On October 10, hearing a case regarding the alleged ove rinvoicing 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.. 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.
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WhatsApp: +86 18838072829Adani Group stocks tank on Sebi, DRI probe news. Accounts of three of the six Mauritiusbased funds, that have invested most of their money in Adani Group firms, were frozen in 2016 over the issuance of Global Depository Receipt (GDR) by certain listed firms. No freeze was ordered for their holding in other firms.
WhatsApp: +86 18838072829Adani 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 legal filing, which Reuters is reporting for the first time ...
WhatsApp: +86 18838072829For 42 million tonnes of coal supplied by its own operations in that time, the Adani group declared an average price of 130 per tonne. But for the 31 million tonnes of coal supplied by its three ...
WhatsApp: +86 18838072829The Directorate of Revenue Intelligence (DRI) has moved the Supreme Court to challenge the Bombay High Court (HC) order that restrained the agency from seeking foreign counterparts' assistance in its probe against a few firms of the Adani group for alleged overvaluation of Indonesian coal imports.
WhatsApp: +86 18838072829Having failed earlier, a foreign publication is "making another effort to financially destabilise the Adani Group by raking up an old, baseless allegation of overinvoicing of coal imports," Adani Group said in a statement. It said the proposed story by the publication is based on the DRI's General Alert Circular dated March 30, 2016.
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