Adani Global Private Ltd, a Singapore-based company of the Adani Group, has moved the high court of Singapore seeking a stay on a demand to produce documents pertaining to Indonesian coal imports from Adani’s subsidiaries, a few shipping companies and banks by a lower court of Singapore, said sources. Over the last two months, the lower court of Singapore has asked for these documents after it received a Letter Rogatory (LR) from the Directorate of Revenue Intelligence (DRI), which is currently probing a few Adani Group firms for alleged overvaluation of such coal imports. An LR is a formal request seeking judicial assistance in investigating a foreign entity.
The website of the Singapore court shows that a case filed by Adani Global against the Attorney General and others was listed for hearing on August 21. Emails and phone calls to the Adani Group for comments did not elicit any response.
The DRI is probing at least 40 companies including six firms of Adani Group, two companies of the Anil Dhirubhai Ambani Group (ADAG) and two Essar Group firms for alleged overvaluation of coal imports from Indonesia pegged at Rs 29,000 crore between 2011 and 2015. Read More…
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