Adani Group overcharged for coal, new evidence bolsters allegations: Report https://www.deccanherald.com/business/companies/adani-group-overcharged-for-coal-new-evidence-bolsters-allegations-report-3035320
New Evidence Bolsters Allegations Adani Group Overcharged for Coal https://www.occrp.org/en/investigations/new-evidence-bolsters-allegations-adani-group-overcharged-for-coal the price of the coal more than tripled to US$91.91 per metric ton. The quality also inexplicably changed from low-grade steam coal to the clean, high-quality version sought by power companies...Documents obtained by OCCRP and shared with the Financial Times reveal that at least 24 other shipments that landed on the Tamil Nadu coast between January and October 2014 were originally priced as low-quality coal but ultimately sold by India’s Adani Group to the state’s power company for triple the cost.
At the request of the DRI, a Mumbai court had issued formal requests in 2017 to courts in Hong Kong, Switzerland, UAE, and Singapore, seeking help in accessing information held by Adani subsidiaries, including the details of several shipments, their associated invoices, and proof of payments. However, Adani Group challenged the DRI’s requests to obtain its business records.
Power minister ducks questions on alleged over-invoicing by Adani https://www.adaniwatch.org/power_minister_ducks_questions_on_alleged_over_invoicing_by_adani On his social media handle, Jawahar Sircar, TMC Member of the Upper House of India’s ParliamentSircar said, ‘Govt evades reply on Adani Coal Import scam reported from London — by giving complex 4-page reply. The Power Ministry that facilitates Adani’s over-invoiced coal imports, (forcing all thermal plants to mix such coal) plays games in reply to me’.
Ayush Joshi & Paranjoy Guha Thakurta Jan 10, 2024
Coal mining production in Dhanbad, India. by Anand Mangnale (OCCRP)
22 May 2024