Coal news and updates

DRI still investigating over-invoicing of imported coal by power plants

India Coal Market Watch

December 28: The Directorate of Revenue Intelligence (DRI) is still investigation the cases related to mis-declaration of value of coal imported from Indonesia and supplied to power plants, Power and Coal Minister Piyush Goyal has said while replying in parliament.

“DRI has informed that it is investigating cases related to misdeclaration of value (over invoicing) of coal imported from Indonesia and supplied to power plants of NTPC,” Goyal said in a written reply.

DRI had launched an investigation sometime back after it unearthed a scam over valuation of coal imports during the period 2011 to 2014.

ICMW had reported in 2014, quoting industry sources, that DRI has launched an investigation on over-invoicing of imported coal prices to take advantage of pass-through mechanism where electricity tariff is fixed based on cost of coal.