Black Money Corruption DRI show cause notices to Adani, Reliance Infra Essar on coal import scams as PSU Banks hide details Are SBI, BoB UCO Banks trying to hushup an alleged,000 crore ( billion) Coal Import scam? By Team PGurus September 15, 2016
The 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 ...
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.
NEW DELHI: 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 ...
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.
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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. In March 2016, DRI issued a general alert to its field formations across ...
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The 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 ...
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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.
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According to the Indian Express, the DRI found that the inflated import invoices received in India were issued by intermediaries, that were purportedly fronts of subsidiary companies of Indian ...
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
The 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
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.
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 ...
The Directorate of Revenue Intelligence (DRI) has issued showcause notices to leading conglomerates Anil Dhirubhai Ambani Group (ADAG), Adani Group and Essar Group in two separate cases of alleged violation of norms, official sources told The Indian Express. Sources said the DRI has issued notices of over Rs 350 crore to Reliance ...
The need for a large drydock was realized by the Indian Navy with the induction of Aircraft carrier INS Vikramaditya, for its maintenance and upkeep as required for keeping it at sea. The dry ...
RBI today said exporters can be put on a "caution" list in case the trader is not making any efforts for realisation of export proceeds or on the recommendation of investigative agencies like ED ...
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 Virgin Islands to artificially inflate its value.
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 ...
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