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 ...
WhatsApp: +86 18838072829The 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.
WhatsApp: +86 18838072829A 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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WhatsApp: +86 18838072829SBI is in the process of issuing new cards at no cost to those card holders whose cards have been blocked. This is a cards industry incident (not only SBI)," SBI said. However, other banks are yet to make any announcement on the security breach. However, customers said SBI branches told them the issue of new debit cards can take up to three ...
WhatsApp: +86 18838072829New 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.
WhatsApp: +86 18838072829The agency, according to sources, found that inflated invoices received in India were issued by intermediaries, allegedly subsidiary companies of Indian importers or their fronts. The DRI alleged that in certain cases, the import value of Indonesian coal was artificially inflated by about 50 to 100 per cent by changing test reports which ...
WhatsApp: +86 18838072829The companies that got the relief are Sesa Sterlite, a part of the Londonlisted Vedanta Resources, Raipurheadquarterd Sarda Energy and Minerals, and Delhibased Usha Martin.
WhatsApp: +86 18838072829The 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.
WhatsApp: +86 18838072829The agency, according to sources, found that inflated invoices received in India were issued by intermediaries, allegedly subsidiary companies of Indian importers or their fronts. The DRI alleged that in certain cases, the import value of Indonesian coal was artificially inflated by about 50100 per cent by changing test reports which measure ...
WhatsApp: +86 18838072829According 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 ...
WhatsApp: +86 18838072829The 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.
WhatsApp: +86 18838072829In 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.
WhatsApp: +86 18838072829In 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 ...
WhatsApp: +86 18838072829According 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.
WhatsApp: +86 18838072829The Securities Appellate Tribunal has stayed trading restrictions imposed on Assam Company India, which is among the 331 suspected shell companies identified by the government.
WhatsApp: +86 18838072829Coal 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
WhatsApp: +86 18838072829State 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.
WhatsApp: +86 18838072829The documents that are being sought by the government include copies of invoices raised by the original supplier of coal, bills of lading, letter of credit covering the transactions and the contract signed by the firms with the original supplier. Watch Video: What's making news Advertisement
WhatsApp: +86 18838072829The Securities and Exchange Board of India (SEBI) will say for the first time that India's customs authority alerted it to an alleged misuse of offshore funds by Adani Group companies in 2014 ...
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WhatsApp: +86 18838072829Finance Minister Nirmala Sitharaman appreciates SBI for successfully launching direct LankanIndian Rupee trade; India 'bright spot' amid despondency and churn in geopolitical landscape: Army ...
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WhatsApp: +86 18838072829It 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.
WhatsApp: +86 18838072829The 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 ...
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