- The Indian Directorate of Revenue Intelligence (DRI) has sought evidence from Singapore since 2016 regarding the alleged overvaluation of coal imports by the Adani Group, focusing on transactions involving its Singaporean subsidiary and Indian arms.
- It’s alleged that a substantial portion of Adani’s Indonesian coal imports were initially billed to its Singaporean subsidiary at inflated prices before being billed to its Indian operations.
- Adani Enterprises and subsidiaries have legally challenged attempts, both in Singapore and India, to prevent the release of documents related to these transactions.
- The Adani Group, led by Gautam Adani, denies any wrongdoing, claiming that Indian authorities had already scrutinized their coal shipments before their release from ports.
- The DRI has filed an October 9 legal plea to India’s Supreme Court to overturn a prior order allowing Adani to block evidence collection from Singapore. Previous court rulings in India and Singapore have differed on the release of these documents, with some citing procedural lapses and pending final decisions.