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Mining India | Adani Enterprises Ltd

Milestones 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)

Adani Group overcharged Indian consumers by importing coal at twice the ...

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 ...

Adani coal imports: Group trying to obstruct investigation in coal ...

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 ...

Supreme Court Stays Bombay High Court Order In Adani Coal Import Case

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 ...

Business News Today: Read Latest Business news, India Business News ...

Business news today: Read India Business news Live. Latest Business news and updates on Finance, share market, IPO, economy. Discover Business News Headlines, Top Financial News and more on The Economic Times.

Coal overinvoicing case: 4 years on, DRI vs Adani in SC to be heard ...

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.

Modi govt allowed Adani coal deals it knew were 'inappropriate'

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 ...

Adani Enterprises says won tender to supply imported coal to NTPC

Billionaire Gautam Adani's porttoenergy conglomerate on Thursday said it had won a contract to supply imported coal to stateowned electricity generator NTPC but played down its significance saying the volume of 1 million tonnes was small.

Billionaire Adani is winning from India's shift to import coal

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 ...

How OverInvoicing of Imported Coal has Increased Power Tariffs

The corresponding figures for the three previous years—in 201314, the country imported million tonnes of coal worth Rs 92, crore; in 201213, million tonnes of coal valued at Rs 86, crore were imported, while in 201112, coal imports stood at million tonnes valued at Rs 78, crore, the minister said.

'Overvaluation' of coal imports: DRI moves Supreme Court against Adani ...

The 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 ...

Adani Letters Rogatory Judgment: Why Finance Ministry Must Appeal

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 ...

Adani Coal Import Case: Supreme Court stays Bombay High ... CNBCTV18

The 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.

DRI ADANI PROBE The Economic Times

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.

Supreme Court stays HC order, lets DRI pursue case against Adani ... Mint

Supreme Court stays HC order, lets DRI pursue case against Adani firms. The DRI had initiated investigations in March 2016 against a few Adani group firms for alleged overinvoicing of coal ...

India seeks to restart stalled Adani coal imports probe ETCFO

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 ...

The mystery of the Adani coal imports that quietly doubled in value

The 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,...

India, Germany ink pact on green hydrogen during Modi's Berlin visit

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 ...

Adani Enterprises loses Coal India's shortterm coal import tender

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 ...

Overpricing of Coal Imports By Adani Group Led to Higher Profits ...

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 ...

HC quashes LRs issued in Adani coal import case

In September, AEL approached the high court seeking to quash the LRs, issued in 2016. In March 2016, the DRI initiated probe against a few Adani group firms for alleged overvaluation of coal ...

The mystery of the Adani coal imports that quietly doubled in value

Pan Asia Tradelink, previously named Pan Asia Coal Trading, has supplied Adani with tonnes of coal for since September 2021, according to customs records reviewed by the FT. The ...

Coal Imports: Supreme Court revives probes against Adani firms

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 ...

DRI probe into alleged overvaluation illegal, invalid: Adani ...

DRI probe into alleged overvaluation illegal, invalid: Adani Enterprises petition in Bombay HC The DRI alleged that Indonesian coal was directly imported from ports in that country to India while import invoices were routed through one or more intermediaries based in Singapore, Hong Kong, Dubai and the British Islands to artificially inflate its value.

DRI moves SC challenging CESTAT order quashing case against two Adani ...

The Directorate of Revenue Intelligence has moved the Supreme Court challenging an order of the Customs, Excise Service Tax Appellate Tribunal quashing a case pertaining to overinvoicing allegations levelled by the Directorate of Revenue Intelligence (DRI) against two Adani group July and August, while granting relief to three Adani group subsidiaries, Adani Power Maharashtra ...

Adani Power reports 96% decline in profits, 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 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 ...

Gautam Adani | Adani Group imported coal well above market prices ...

The 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 ...

Adani Ent dips 4% on reports SC stays Bombay HC ruling in coal import case

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.

what_adani_has Stop Adani

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 ...

Time Adani is made accountable: Swamy. Raises doubts on huge Adani's ...

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).

No government committee to probe Adani; DRI investigation in Indonesia ...

The government has not set up any committee to probe allegations a US short seller labelled against the Adani Group, but stock market regulator SEBI is investigating market allegations against the group, the Lok Sabha was informed on Monday. A separate investigation into imports of Indonesian coal by the conglomerate hasn't reached finality, Minister of State for Finance Pankaj Chaudhary said.

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