Reliance Group firms Reliance Infra and Reliance Power said that they have fully cooperated with Directorate of Revenue Intelligence in the investigation with regard to import of coal by over 40 companies even as they denied having received any show cause notice till date.
"This is with reference to various newspaper reports regarding of issuance of show cause notice by the Directorate of Revenue Intelligence (DRI) to Reliance Infrastructure Ltd.
It is clarified the we have not received any showcause notice from DRI till date," Reliance Infrastructure (RInfra) said in a filing to BSE.
In a separate filing Reliance Power said, "This is with reference to various newspaper reports regarding issuance of show cause notice by...DRI to Rosa Power Supply Company Ltd (Rosa Power), our 100 per subsidiary. It is clarified that Rosa Power has not received any show cause notice from DRI till date." RInfra further said, "We have imported coal under long-term contracts to meet the shortfall in supply of domestic coal by Coal India Ltd (CIL) for captive consumption only." RPower said that Rosa Power imported coal under long-term contracts to meet the shortfall in supply of domestic coal by CIL under fuel supply agreement.
All coal imports are fully compliant with laid down rules and regulations, in conformity with the power purchase agreement, it said.
DRI is investigating the import of coal by over 40 companies including government and private sector entities as per its General Alert Circular dated March 31, 2016, the filing said.
The two Anil Ambani-led Reliance Group companies said that they have fully cooperated with DRI in the investigation.
RInfra is one of the smallest importers of coal, and imports by the company minuscule i.e. around 0.4 percent of total imports of the country. As per media reports, more than 35 companies are having imports up to 50 times the volumes of our company, the company said.
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