Furthermore, the DRI's appeal was reportedly withdrawn by the Supreme Court of India on January 24, 2023, with an acknowledgment of the government's stance against engaging in futile litigation.
In March 2016, the DRI initiated a probe against a few Adani Group firms for alleged overvaluation of coal imports from Indonesia between 2011 and 2015. The LRs were issued to Singapore, Dubai and Hong Kong, seeking help to access documents lying with overseas branches of three Stateowned banks relating to transactions under the probe.
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 ...
According 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 ...
The inflated invoices were issued by intermediary invoicing agents in Singapore, Dubai, Hong Kong and British Virgin Islands, among other jurisdictions, according to the DRI alert notice. The average price of Indonesian coal with a gross calorific value of 3,8004,200 kCal/kg ranged between 38 and 49 a tonne on freeonboard (FOB) basis ...
The Supreme Court (SC) Monday dismissed 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 levelled by the DRI against three Adani group subsidiaries. Between November 2022 and January 2023, the federal agency had moved the ...
The FT's brazen agenda is exposed by the fact that they have singled out the Adani Group, while the DRI's Circular, the raison d'être for the whole story, mentions as many as 40 importers...
Coal based sponge iron production in India Ferroalloys demand volume in Japan China Steel Corporation raw steel production tonnage in Taiwan
Receive daily email alerts, subscriber notes personalize your experience. Register Now With a GDP growth rate of % in 2019 and forecast to expand by another 8% this year, according to the Asian Development Bank, Bangladesh's demand for dry bulk commodities has burgeoned, successfully drawing a sizable dry bulk shipping traffic to its shores.
Rajasthan Chhattisgarh Telangana Mizoram Advertisement News India Adani coal imports case in Supreme Court: DRI reiterates stand to resume probe Adani coal imports case in Supreme Court: DRI reiterates stand to resume probe The affidavit was filed on October 10.
Adani Group said in the case of Knowledge Infrastructure, one of the 40 importers mentioned in the General Alert Circular, the DRI's Show Cause Notice alleging overvaluation in the import of ...
Coal or coal briquettes enter the meltergasifier dome and are converted to char at 1100°C1150°C. Oxygen is blown into the melter gasifier and a reduction gas, mainly CO and H 2, is generated by gasifying the coal, which is fed to the upper reactor(s), reducing the burden. The reduced iron ore or hot DRI is charged into the melter gasifier ...
The current upturn in coking coal and coke prices alongside firming scrap may be improving the prospects for DRI steel mills accessing lowerpriced gas on longterm contracts. ... has been more resilient than the Platts China export rebar to iron ore and coking coal spread. The regional indicator DRI has performed better than for Turkey rebar ...
directorate of revenue intelligence dri is seeking to restart a probe into adani group for alleged overvaluation of coal imports and has asked supreme court to allow them to collect evidence from singapore reuters reported dri has been trying since 2016 to procure transaction documents from singapore adani group has reportedly repeatedly ...
DRI went in for an appeal but the Supreme Court this year dismissed its petition. Adani Group in the statement said the DRI's show cause notice alleging overvaluation in the import of coal was ...
Indian energy minister Piyush Goyal told Economic and Political Weekly that the DRI was "investigating cases related to misdeclaration of value (over invoicing) of coal imported from Indonesia...
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 ...
While Indonesian coal was shipped directly from Indonesian ports to India, the DRI's 2016 alert said, suppliers' invoices were "routed through one or more intermediaries based in Singapore, Dubai, Hong Kong, British Virgin Islands (UK) etc for the purpose of artificially inflating its value."
Jun 23, 2023. Around percent of the sponge iron produced in India in 2022 was under coal based process route. This was due to numerous coal based units present in the mineral rich states. The ...
SCCL coal linkage: Date Of prebid conference:, at 11 am for CEMENT CPP Sub sectors at venue: Hotel Golkonda, Masab Tank, Hyderabad. For Coal India Limited. CIL: Login detail for Preauction consumer conference for CPP subsector under 'Auction of coal linkages for nonregulated sector TrancheV'.
DRI Coal Download as a PDF or view online for free. Submit Search. Upload. DRI Coal Report. Hindenburg Research Hindenburg Research. Follow • 0 likes • 1,477 ...
"The FT's proposed story is based on the DRI's General Alert Circular /2016/CI dated 30 March 2016. ... the issue of overvaluation in the import of coal was conclusively settled by India's ...
A 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 group ...
The Adani Group today slammed the UKbased newspaper Financial Times' for "raking up an old, baseless allegation of overinvoicing of coal imports". The group accused it of a "malicious campaign ...
"The FT's proposed story is based on the DRI's General Alert Circular /2016/CI dated March 30, 2016. ... It also deliberately ignores the fact that coal procurement in India on a longterm ...
Adani Group by raking up old, baseless allegationan of overinvoicing of coal imports. The FT's proposed story is based on the DRI's eneral Alert Circular G /2016/CI dated 30 March 2016. The FT's brazen agenda is exposed by the fact that they have singled out the Adani Group, while the DRI's Circular, the . raison
In book: Encyclopedia of Iron, Steel, and Their Alloys ( ) Chapter: i) Direct Reduced Iron: Production; Publisher: CRC Press, Taylor and Francis Group, New York.
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