DRI issues notices to gencos for inflated coal import bills

The Directorate of Revenue Intelligence (DRI) has issued show cause notices to 10 power companies for the overvaluation of coal imports from Indonesia. These include five companies of the Adani Group (for an overvaluation of Rs 11 billion), two companies of the Reliance Group (Rs 3 billion) and two companies of the Essar Group (Rs 3.32 billion). The DRI’s probe has estimated a total overvaluation of Rs 290 billion of coal import bills from 2011 to 2014.