Adani Group is preparing to ship the first coal cargo from Australia's most controversial mine, after battling a sevenyear campaign by climate activists and defying a global push
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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 legal filing, which Reuters is reporting for the first time ...
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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, for a mediumterm tender for sourcing additional 6 million tonnes (MT) of ...
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Having 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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A recent report from the Financial Times claims that the Adani Group, India's largest private coal importer, imported coal at prices significantly higher than market rates, raising suspicion that the group has been inflating fuel costs and forcing consumers and businesses to overpay for electricity. The investigation, based on customs records since July 2021, claims that the group paid a ...
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Corporate Fraud Adani firm is trying to obstruct investigation in coal imports case, DRI tells Bombay HC The Directorate of Revenue Intelligence said the Adani group was challenging the 'well ...
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The Supreme Court revived on Wednesday the probe against a Adani group firm in a case of alleged overvaluation of Indonesian coal imports by staying the Bombay High Court's decision of quashing ...
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The 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 ...
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Adani 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.
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On 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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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 ...
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Adani 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 ...
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At 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.
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Billionaire 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 ...
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In 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 ...
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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.
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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 mainly on the back ...
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India and Germany on Monday inked a joint declaration of intent on IndoGerman Green Hydrogen Task Force, an official statement said. Union Minister for Power and New and Renewable Energy R K Singh and German Minister for Economic Affairs and Climate Change Robert Habeck signed the joint declaration virtually, the Ministry of New and Renewable ...
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1 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 ...
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Adani is digging the biggest coal mine in Australian history. Adani's Carmichael coal mine has approval to extract up to 60 million tonnes of coal a year for 90 years creating billion tonnes of carbon pollution. Adani's coal is shipped through the Great Barrier Reef via Adani's NQXT coal port and burned in Adani's Indian coal plants.
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Shares of Adani Enterprises slipped as much as per cent to Rs on the BSE on Wednesday after media reports suggested that the Supreme Court (SC) has set aside Bombay High Court's order giving relief to the firm in the coal import case.
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The importer was primarily Adani Enterprises. For the 42mn tonnes of coal supplied by its own operations in that time, the Adani group declared an average price of 130 per tonne. For the 31mn tonnes of coal supplied by its three middlemen, however, the average price declared per tonne was 155, a 20 per cent premium worth almost 800mn.
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The records show that over the past two years, Adani used offshore intermediaries in Taiwan, Dubai and Singapore to import 5bnworth of coal at prices that were at times more than double the ...
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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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Bombay HC Quashes LORs Issued By DRI For Probe Into Alleged Evasion Of Customs Duty By Adani In Import Of Indonesian Coal. Nitish Kashyap . 18 Oct 2019 4:49 AM GMT. Share this.
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The DRI alleged that in certain cases, the import value of Indonesian coal was artificially inflated by about 50 to by changing test reports which measure the calorific value of coal.
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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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The Supreme Court revived on Wednesday the probe against a Adani group firm in a case of alleged overvaluation of Indonesian coal imports by staying the Bombay High Court's decision of quashing all letters rogatory (LRs) sent by the DRI to Singapore
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Also read: Coal Import Scam: Adani Company Is Trying to Impede Investigation, DRI Tells Bombay HC As its investigations proceeded, the DRI realised it would need further documentation from the foreign branches of Indian banks, namely, ICICI Bank, Axis Bank, Bank of Baroda (BoB) and, most importantly, the State Bank of India (SBI) through which ...
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Later 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).
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Follow Us 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.
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A Bombay HC halted an investigation by the Directorate of Revenue Intelligence into the alleged Rs 29,000cr overvaulation of Indonesian coal imports by Adani Group. DRI is probing at least 40 companies, including Essar, for overvaluation of imports.
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The 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.
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The Delhi High Court on Wednesday issued a notice to the Central Bureau of Investigation (CBI) to explain why it closed the Preliminary Enquiry in the,000 crore Coal Import scam during its tainted Chief Ranjit Sinha's tenure while the Department of Revenue Intelligence's (DRI) probe was going on. The Bench comprising Justices Ravindra Bhat and AK Chawla also directed the Union ...
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For 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 ...
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يرغب أحد موردي المواد من بلجيكا في إنتاج مسحوق الحجر الجيري لملابسه...
الهند غنية بالموارد المعدنية المختلفة وهي سوق مهم لمعالجة المعادن
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