However, the High Court said it has not gone into the merits of the LRs issued by the Magistrate in this case. The probe agency specifically sought import documents negotiated by the Singapore and the Dubai branch of Indian banks with Indonesian coal suppliers. Last year, AEL moved the Bombay High Court seeking to quash all LRs issued by DRI in 2017. The Supreme Court asked the high court to pass a final order by end of June 2019. AdvertisingThe DRI alleged that in certain cases, the import value of Indonesian coal was artificially inflated by about 50 to 100 per cent by changing test reports which measure the calorific value of coal.

Source: Indian Express October 17, 2019 23:15 UTC