Tag: Allegations

  • Adani appoints Grant Thornton for audit to come clean on Hindenburg allegations

    Adani appoints Grant Thornton for audit to come clean on Hindenburg allegations

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    New Delhi: Embattled Adani group has appointed accountancy firm Grant Thornton for an independent audit of some of its companies in a bid to come clean of the damning allegations levelled by the US short-seller Hindenburg Research and to assure investors and regulators.

    Sources said that the audit is primarily to show regulators like the Reserve Bank of India (RBI) that the group has nothing to hide and it is in compliance with relevant laws.

    The audit will specifically look into if there was any misappropriation or repatriation of funds and if loans were used for any purpose other than the one they were intended for.

    The audit, they said, would go a long way to show that the books are healthy and project executions are on track – something that the investors are keenly watching given the damage to market value that the Hindenburg report has caused.

    As the run on its shares continued, Adani Group had on Monday attempted to calm the market, saying its growth plans are intact, business plans are fully funded and it remains confident of delivering returns to shareholders.

    Market value of the group’s seven listed companies has halved since the January 24 report by the US-based short-seller Hindenburg Research alleged that Adani pulled “the largest con in corporate history” using offshore tax havens and stock manipulation.

    The group has denied all allegations, calling them “malicious”, “baseless” and a “calculated attack on India”. It called Hindenburg the “Madoffs of Manhattan”, referring to the late financier and fraudster Bernie Madoff.

    “Balance sheet of each of our independent portfolio companies is very healthy,” the group spokesperson had said. “We have industry leading development capabilities, strong corporate governance, secure assets, strong cash flows, and our business plan is fully funded.”

    The group debunked reports of a cut in growth goal and capex. Projects may be delayed but none is shelved or deferred and plans for expansion of solar, green hydrogen and airports were on track.

    “Once the current market stabilizes, each entity will review its own capital market strategy, be rest assured, we are confident in the continued ability of our portfolio to deliver superior returns to shareholders,” the spokesperson added.

    The Adani crisis has sparked worries of financial contagion in India and ability to carry on infrastructure projects.

    Last week, French oil major TotalEnergies said it would wait for the result of an independent audit before proceeding with investing in Adani Group’s USD 50 billion plans to make green hydrogen.

    According to Bernstein Research, Adani Green is capable of paying off all its debt of Rs 22,000 crore due in the financial year ending in March 2025, if it divests some renewable energy assets, seeks fresh equity capital from existing investors, or cancels some planned projects and avoids bidding for new ones.

    The spokesperson, however, termed questions over the group’s ability to fund projects and refinance debt as ‘unfounded speculation’.

    Last week, Moody’s Investors Service downgraded the ratings outlook for four Adani group companies to negative from stable, while index provider MSCI said it would cut the weightage of some of its stocks in its indices.

    Finance Minister Nirmala Sitharaman on Saturday said the country’s regulators are very experienced and are seized of the matter relating to the Adani Group crisis.

    “India’s regulators are very, very experienced and they are experts in their domain. The regulators are seized of this matter and they are on their toes as always, not just now,” she had said.

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    #Adani #appoints #Grant #Thornton #audit #clean #Hindenburg #allegations

    ( With inputs from www.siasat.com )

  • Violent mob lynches man in Pakistan over blasphemy allegations

    Violent mob lynches man in Pakistan over blasphemy allegations

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    Lahore: Pakistan Punjab Inspector General of Police, Usman Anwar, on Saturday suspended two senior cops for failing to prevent a mob from lynching a man over blasphemy allegations in Nankana Sahib, media reports said.

    The IG took notice of the incident as videos circulating on social media purportedly showed a violent mob outside a police station in Nankana Sahib, Dawn reported.

    “Total madness!!! An angry mob attacked the police station in Nankana Sahib. Reportedly, a man accused of blasphemy was killed and his body was burnt by the mob. Apparently, the police were unable to control the situation,” read a tweet.

    In one video, the mob could be seen scaling the large gates of what appeared to be the Warburton police station, and opening it, after which the rowdy crowd outside storms the building, Dawn reported.

    A second video showed young children purportedly part of the mob smiling inside the police station, as broken glass and overturned furniture could be seen strewn about.

    The police statement said the IG has suspended Nankana Sahib circle Deputy Superintendent of Police Nawaz Waraq and Warburton SHO Feroz Bhatti.

    The IG further directed the Internal Accountability Branch DIG Syed Muhammad Amin Bukhari and Special Branch DIG Raja Faisal to reach the spot and submit an inquiry report.

    “No one is allowed to take the law into their hands no matter how influential they are,” the IG was quoted as saying.

    “Strict department and legal action will be taken against those responsible for the incident, as well as the perpetrators of negligence and incompetence,” the IG asserted.

    Meanwhile, the Chairman of Pakistan Ulema Council (PUC), Tahir Mehmood Ashrafi, condemned the incident, saying it was regrettable the way the charged mob attacked the blasphemy accused, Dawn reported.

    “Inhuman torture and killing a person accused of blasphemy and attacking the police station is regrettable and condemnable,” Ashrafi said in a tweet.



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    #Violent #mob #lynches #man #Pakistan #blasphemy #allegations

    ( With inputs from www.siasat.com )

  • Hansika reacts to allegations that she broke her husband’s first marriage

    Hansika reacts to allegations that she broke her husband’s first marriage

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    Mumbai: After facing allegations that she broke her husband Sohael Khaturiya’s first marriage, actress Hansika Motwani finally broke her silence.

    In the first episode of the reality show ‘Hansika’s Love Shaadi Drama’, the ‘Koi… Mil Gaya’ actress addressed the allegations, saying “it’s the price for being a celebrity.”

    Hansika and Sohael tied the knot in December. Soon it came to light that Sohael was previously married to Hansika’s friend Rinky and Hansika had also attended their wedding. Netizens accused Hansika of stealing her friend’s husband.

    Reacting to such claims, Hansika on the show said, “Just because I knew the person at that time doesn’t mean it was my fault. I have nothing to do with this. Because I am a public figure, it was very easy for people to point at me and make me the villain. This was a price I pay for being a celebrity.”

    Sohael also reacted to such allegations.

    “The news that I was previously married came out and it came out in a wrong light. It came out as if the breakup was because of Hansika, which is absolutely untrue and baseless,” he said.

    “I was first married in 2014 and that marriage lasted for a very short time. But just because we have been friends and someone saw pictures of her attending my wedding, is why this speculation started,” Sohael explained.

    Hansika’s Love Shaadi Drama airs every Friday on Disney+ Hotstar.

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    #Hansika #reacts #allegations #broke #husbands #marriage

    ( With inputs from www.siasat.com )

  • Govt running away from JPC probe into allegations against Adani Group: Venugopal

    Govt running away from JPC probe into allegations against Adani Group: Venugopal

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    New Delhi: Rajya Sabha Congress MP K C Venugopal on Wednesday alleged that the government was “running away” from an investigation by a Joint Parliamentary Committee (JPC) on the allegations against the Adani Group as it wanted to “hide something”.

    Leaders from different opposition parties in the Upper House also alleged that the President’s speech missed out key issues, especially the “attacks” on minority Muslims, price rise and unemployment, and demanded a caste-based census. Several of them demanded a JPC probe into the Hindenburg-Adani issue.

    Speaking on the Motion of Thanks on the President’s Address in Rajya Sabha, Venugopal said the truth will not come out with a JPC probe.

    “This House has the greatest tradition. That House also has the greatest tradition. Whenever this type of big scam is raised in the public domain, it is the right of the parliamentarians to ask for an inquiry from the government

    “If the government does not need to hide any truth, then it should come forward for a JPC inquiry, like during the UPA rule, how many JPC inquiries we have done.. we are asking why are you running away from JPC.. something is there somewhere,” he said.

    He claimed there was high unemployment in the country and that some media platforms were spreading venom in the country in the name of Hindu-Muslim.

    Senior BJP leader and Union Minister Bhupender Yadav hit back at the Congress, saying the opposition old party does not believe in any data put out by the goverment as he reeled out numbers related to employment generations, rise in internet users, vaccination, MUDRA loan, and free cooking gas connections.

    The Congress does not appreciate anything on which India takes pride, he alleged.

    Ajit Kumar Bhuyan (Independent), who belongs to Assam, said the people of the region had developed some hope after the prime minister told the nation that the Naga conflict was resolved when the Centre inked the framework agreement in August, 2015 but the President’s Address does not reflect any concern on the Naga conflict.

    Vivek Thakur (BJP) spoke about the various development works and initiatives by the Modi government that have empowered the poor, farmers, dalits, tribals, and rural India during the last nine years.

    Samajwadi Party (SP) leader Jaya Bachchan demanded that the government conduct a caste-based census so that Other Backward Community (OBC) people can avail the benefits of government welfare schemes and jobs.

    She said beneficiaries for the government’s welfare schemes are identified based on caste data of scheduled caste (SC) and scheduled tribes (ST).

    After 1931, a caste-based census – that would have helped get the data on OBCs – was not undertaken, she said.
    “We demand… a caste-based census so that they (OBCs) get advantage and their due share in the welfare schemes and the government jobs,” she added.

    Bachchan, also a Bollywood actress, alleged that the President’s speech failed to mention what the government has achieved in improving the lives of women, sanitation workers and senior citizens.

    There was no mention of the Nirbhaya fund in the speech, she said, adding that the government also showed complete disregard towards the artist community.

    NCP leader Fauzia Khan alleged that the ruling government was using the Enforcement Directorate to target the opposition party members, and alleged there is no politics with principles at present as “fear and exclusion” are used as a strategy for polarisation.

    She also expressed concern over China’s alleged “water bomb” being developed by building river bridges and airports in neighbouring Nepal and Tibet. “This is a water bomb. Is the government thinking of signing a treaty with China?” she asked.

    Pressing for a JPC probe on the Hindenburg-Adani issue, Abdul Wahab (IUML) alleged that the President’s speech did not address the struggles of the Muslims.

    “India’s largest minority, that is Muslims, were not even once discussed by the President. We know there has been an increase in targeted attacks and demolition of houses in Muslim-dominated localities in UP, Uttarakhand, Assam and Madhya Pradesh,” he said.

    The participation of Muslims in higher education has declined to 4.6 per cent from 5.5 per cent. The quality of public education deteriorated, and as a result, private tuition and coaching centres thrived. Financial aid to higher education students decreased, he added.

    Wahab said the President’s address should have set a roadmap for addressing the common concerns of people in areas like rising unemployment, increase in gas cylinder and petrol price and hike in prices of essential food items.

    Sulata Deo (BJD) talked about women’s empowerment and emphasised the need for the Women’s Reservation Bill.

    Pabitra Magherio (BJP) praised the Modi government for taking steps to end terrorism in the Northeast. “There has been a 74 per cent decline in terrorist activities. Terrorists and rebel groups are in dialogue now.”

    Terrorist activities have reduced and as a result, G-20 meetings are being held there also, he added.

    Sonal Mansingh (BJP) drew attention to the government initiatives taken to promote and preserve India’s rich cultural heritage.
    “Government has chosen the path of consolidating heritage and giving priority to development”, she said.

    The government’s endeavour has been to focus on preserving India’s glorious past, and paying homage and tribute to great freedom fighters, she said.

    She mentioned initiatives such as upgrading five iconic museums to international standards, the Statue of Unity, and the statue of Netaji Subhas Chandra Bose at India Gate.

    She said that millions of people have for centuries yearned for the temple of Lord Ram, for which the prime minister led the bhoomi pujan.

    “It was an emotional moment for millions since many people had wondered if they would ever see Shri Ram in a grand temple instead of a makeshift tent,” she said.

    Kavita Patidar (BJP) said the government has taken a number of policy measures for the welfare of farmers, right from the PM-KISAN scheme to One Nation One Fertiliser scheme, and PM Kisan Samruddhi Kendras.

    Birendra Prasad Baishya (AGP) recounted that in 2014 after taking over as the prime minister, Narendra Modi announced that the Northeast region is a priority.

    “He not only announced, he has implemented,” Baishya said. Before 2014, Assam had only one cancer hospital, and now that number has grown to nine, he added.

    Ramchandra Jangra (BJP), Brijlal (BJP) and Rwngwra Narzary (UPPL) also participated in the debate.

    Radha Mohan Das Agarwal (BJP) focused on the health sector. He said the health budget has increased to Rs 86,200 crore in 2022-23 from Rs 33,700 crore in 2013-14.

    Santhosh Kumar P (CPI) accused the central government of weakening institutions like SEBI.

    “It is actually now a Silent and Embarrassed Body of India,” he alleged.

    A D Singh (RJD) also raised the demand for JPC probe.

    “What is the harm if a JPC is constituted? At least, you can show to the world that everything is transparent here, and in case, the Opposition is saying something wrong, we will also get embarrassed if the JPC clears everything that a particular industrialist has done,” he said.

    While supporting the motion of thanks, Manas Ranjan Mangaraj (BJD) highlighted that banking services are absent in many Panchayats of Odisha.

    “These also need to be provided by the Centre,” he said, and added that because of the implementation of Direct Benefit Transfer, the people of Odisha will not be benefitted unless Brick and Mortar (Physical) banks are there in the panchayats.

    TMC MP Abir Ranjan Biswas said the immediate inquiry into the “big scam” which is currently creating much furore can happen in two different ways. It could be through a JPC or a time-bound probe by a Supreme Court-monitored Committee.

    “So, we demand the second, of course, if the first plan is touching the weak nerve of the government,” he said.

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    #Govt #running #JPC #probe #allegations #Adani #Group #Venugopal

    ( With inputs from www.siasat.com )

  • Govt running away from JPC probe into allegations against Adani Group: Venugopal

    Govt running away from JPC probe into allegations against Adani Group: Venugopal

    [ad_1]

    New Delhi: Rajya Sabha Congress MP K C Venugopal on Wednesday alleged that the government was “running away” from an investigation by a Joint Parliamentary Committee (JPC) on the allegations against the Adani Group as it wanted to “hide something”.

    Leaders from different opposition parties in the Upper House also alleged that the President’s speech missed out key issues, especially the “attacks” on minority Muslims, price rise and unemployment, and demanded a caste-based census. Several of them demanded a JPC probe into the Hindenburg-Adani issue.

    Speaking on the Motion of Thanks on the President’s Address in Rajya Sabha, Venugopal said the truth will not come out with a JPC probe.

    “This House has the greatest tradition. That House also has the greatest tradition. Whenever this type of big scam is raised in the public domain, it is the right of the parliamentarians to ask for an inquiry from the government

    “If the government does not need to hide any truth, then it should come forward for a JPC inquiry, like during the UPA rule, how many JPC inquiries we have done.. we are asking why are you running away from JPC.. something is there somewhere,” he said.

    He claimed there was high unemployment in the country and that some media platforms were spreading venom in the country in the name of Hindu-Muslim.

    Senior BJP leader and Union Minister Bhupender Yadav hit back at the Congress, saying the opposition old party does not believe in any data put out by the goverment as he reeled out numbers related to employment generations, rise in internet users, vaccination, MUDRA loan, and free cooking gas connections.

    The Congress does not appreciate anything on which India takes pride, he alleged.

    Ajit Kumar Bhuyan (Independent), who belongs to Assam, said the people of the region had developed some hope after the prime minister told the nation that the Naga conflict was resolved when the Centre inked the framework agreement in August, 2015 but the President’s Address does not reflect any concern on the Naga conflict.

    Vivek Thakur (BJP) spoke about the various development works and initiatives by the Modi government that have empowered the poor, farmers, dalits, tribals, and rural India during the last nine years.

    Samajwadi Party (SP) leader Jaya Bachchan demanded that the government conduct a caste-based census so that Other Backward Community (OBC) people can avail the benefits of government welfare schemes and jobs.

    She said beneficiaries for the government’s welfare schemes are identified based on caste data of scheduled caste (SC) and scheduled tribes (ST).

    After 1931, a caste-based census – that would have helped get the data on OBCs – was not undertaken, she said.

    “We demand… a caste-based census so that they (OBCs) get advantage and their due share in the welfare schemes and the government jobs,” she added.

    Bachchan, also a Bollywood actress, alleged that the President’s speech failed to mention what the government has achieved in improving the lives of women, sanitation workers and senior citizens.

    There was no mention of the Nirbhaya fund in the speech, she said, adding that the government also showed complete disregard towards the artist community.

    NCP leader Fauzia Khan alleged that the ruling government was using the Enforcement Directorate to target the opposition party members, and alleged there is no politics with principles at present as “fear and exclusion” are used as a strategy for polarisation.

    She also expressed concern over China’s alleged “water bomb” being developed by building river bridges and airports in neighbouring Nepal and Tibet. “This is a water bomb. Is the government thinking of signing a treaty with China?” she asked.

    Pressing for a JPC probe on the Hindenburg-Adani issue, Abdul Wahab (IUML) alleged that the President’s speech did not address the struggles of the Muslims.

    “India’s largest minority, that is Muslims, were not even once discussed by the President. We know there has been an increase in targeted attacks and demolition of houses in Muslim-dominated localities in UP, Uttarakhand, Assam and Madhya Pradesh,” he said.

    The participation of Muslims in higher education has declined to 4.6 per cent from 5.5 per cent. The quality of public education deteriorated, and as a result, private tuition and coaching centres thrived. Financial aid to higher education students decreased, he added.

    Wahab said the President’s address should have set a roadmap for addressing the common concerns of people in areas like rising unemployment, increase in gas cylinder and petrol price and hike in prices of essential food items.

    Sulata Deo (BJD) talked about women’s empowerment and emphasised the need for the Women’s Reservation Bill.

    Pabitra Magherio (BJP) praised the Modi government for taking steps to end terrorism in the Northeast. “There has been a 74 per cent decline in terrorist activities. Terrorists and rebel groups are in dialogue now.”

    Terrorist activities have reduced and as a result, G-20 meetings are being held there also, he added.

    Sonal Mansingh (BJP) drew attention to the government initiatives taken to promote and preserve India’s rich cultural heritage.

    “Government has chosen the path of consolidating heritage and giving priority to development”, she said.

    The government’s endeavour has been to focus on preserving India’s glorious past, and paying homage and tribute to great freedom fighters, she said.

    She mentioned initiatives such as upgrading five iconic museums to international standards, the Statue of Unity, and the statue of Netaji Subhas Chandra Bose at India Gate.

    She said that millions of people have for centuries yearned for the temple of Lord Ram, for which the prime minister led the bhoomi pujan.

    “It was an emotional moment for millions since many people had wondered if they would ever see Shri Ram in a grand temple instead of a makeshift tent,” she said.

    Kavita Patidar (BJP) said the government has taken a number of policy measures for the welfare of farmers, right from the PM-KISAN scheme to One Nation One Fertiliser scheme, and PM Kisan Samruddhi Kendras.

    Birendra Prasad Baishya (AGP) recounted that in 2014 after taking over as the prime minister, Narendra Modi announced that the Northeast region is a priority.

    “He not only announced, he has implemented,” Baishya said. Before 2014, Assam had only one cancer hospital, and now that number has grown to nine, he added.

    Ramchandra Jangra (BJP), Brijlal (BJP) and Rwngwra Narzary (UPPL) also participated in the debate.

    Radha Mohan Das Agarwal (BJP) focused on the health sector. He said the health budget has increased to Rs 86,200 crore in 2022-23 from Rs 33,700 crore in 2013-14.

    Santhosh Kumar P (CPI) accused the central government of weakening institutions like SEBI.

    “It is actually now a Silent and Embarrassed Body of India,” he alleged.

    A D Singh (RJD) also raised the demand for JPC probe.

    “What is the harm if a JPC is constituted? At least, you can show to the world that everything is transparent here, and in case, the Opposition is saying something wrong, we will also get embarrassed if the JPC clears everything that a particular industrialist has done,” he said.

    While supporting the motion of thanks, Manas Ranjan Mangaraj (BJD) highlighted that banking services are absent in many Panchayats of Odisha.

    “These also need to be provided by the Centre,” he said, and added that because of the implementation of Direct Benefit Transfer, the people of Odisha will not be benefitted unless Brick and Mortar (Physical) banks are there in the panchayats.

    TMC MP Abir Ranjan Biswas said the immediate inquiry into the “big scam” which is currently creating much furore can happen in two different ways. It could be through a JPC or a time-bound probe by a Supreme Court-monitored Committee.

    “So, we demand the second, of course, if the first plan is touching the weak nerve of the government,” he said.

    [ad_2]
    #Govt #running #JPC #probe #allegations #Adani #Group #Venugopal

    ( With inputs from www.siasat.com )

  • Binance allegations false and misleading, WazirX tells users

    Binance allegations false and misleading, WazirX tells users

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    New Delhi: Indian cryptocurrency exchange WazirX has said that allegations levied by global crypto company Binance are false and misleading.

    In a statement, Nischal Shetty-run WazieX said that its users do not have to be concerned about Binance’s announcement.

    “We have made arrangements to ensure that WazirX’s digital assets are stored in accordance with industry-leading standards. Users can continue to trade, deposit, and withdraw their funds as usual,” the company said.

    Binance late last month sent WazirX an ultimatum demanding that the exchange remove what it referred to as a “false and misleading narrative” or stop utilising its crypto wallets by February 3.

    However, Binance later said in a blog post that it was making an exception and inviting WazirX to “work out arrangements to withdraw any remaining assets in the relevant accounts.”

    WazirX replied, saying it had begun the process of transferring assets to wallets, and expected the process to be completed “within the next few hours.”

    WazirX now says the allegations made by Binance in their blog are false and unsubstantiated.

    “As far as Binance’s actions are concerned, we are taking the necessary steps to seek recourse and protect our legal rights,” it added.

    The tussle first erupted in August last year after Enforcement Directorate (ED) raids on WazirX’s Singapore-based parent company Zanmai Lab and Binance completely disowning the Shetty-run platform.

    On November 21, 2019, Binance said it had “acquired” WazirX.

    Amid the controversy, Zanmai Lab had said in a statement that “WazirX is a platform co-operated by Zanmai Labs Pvt. Ltd. (Zanmai Labs) and Binance”.

    After the ED raids on Zanmai Labs, Binance first disowned WazirX, and then said that it is removing the off-chain fund transfer channel between WazirX and Binance.

    Changpeng Zhao, founder and CEO of Binance, had said in a tweet thread that the company “does not own any equity in Zanmai Labs, the entity operating WazirX and established by the original founders”.

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    #Binance #allegations #false #misleading #WazirX #tells #users

    ( With inputs from www.siasat.com )

  • Allegations against Adani: Chhattisgarh Cong protests in front of LIC, SBI offices

    Allegations against Adani: Chhattisgarh Cong protests in front of LIC, SBI offices

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    Raipur: The ruling Congress in Chhattisgarh on Monday staged protests in front of the Life Insurance Corporation (LIC) and State Bank of India (SBI) offices in all the district headquarters across the state in connection with the allegations against the Gautam Adani group and the resultant stock market upheaval.

    Adani group stocks have taken a massive hit after US-based activist short-seller Hindenburg Research made a litany of allegations including fraudulent transactions and share price manipulation. The group has dismissed the charges as lies.

    Opposition parties have alleged the value of shares held in Adani group firms by LIC and leading lender SBI had eroded massively, which they claimed was a setback to taxpayers.

    The protesters sought a joint parliamentary probe into the allegations against the Adani group as well as a white paper on the issue from the Bharatiya Janata Party-led Union government.

    Addressing the gathering outside the Jai Stambh Chowk branch of SBI, Chhattisgarh Congress chief Mohan Markam said the allegations show LIC and SBI made “risky investments” in the Adani group.

    The common man, who has been affected by the stock rout, needs to know who sanctioned such “disproportionate loans” from state entities to the group, Markam said.

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    #Allegations #Adani #Chhattisgarh #Cong #protests #front #LIC #SBI #offices

    ( With inputs from www.siasat.com )

  • Adani issues 413-page response, calls Hindenburg allegations attack on India

    Adani issues 413-page response, calls Hindenburg allegations attack on India

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    New Delhi: Richest Indian Gautam Adani’s group on Sunday likened the damning allegations levied by short seller Hindenburg Research to a “calculated attack” on India, its institutions and growth story, saying the allegations are “nothing but a lie”.

    In a 413-page response, Adani Group said the report was driven by “an ulterior motive” to “create a false market” to allow the US firm to make financial gains.

    “This is not merely an unwarranted attack on any specific company but a calculated attack on India, the independence, integrity and quality of Indian institutions, and the growth story and ambition of India,” it said.

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    #Adani #issues #413page #response #calls #Hindenburg #allegations #attack #India

    ( With inputs from www.siasat.com )

  • ‘Malafide intention’: Adani Group on Hindenburg Research’s allegations of fraud

    ‘Malafide intention’: Adani Group on Hindenburg Research’s allegations of fraud

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    Soon after US’s Hindenburg Research investigative report accused Adani Group of the improper wide use of businesses established in offshore tax havens and expressed worry about excessive debt levels, the conglomerate released a statement terming the report as ‘malicious combinations of selective misinformation.’

    The statement was released by Adani Group’s Chief Financial Officer (CFO) Jugeshinder Singh who stated the allegations made are stale, baseless and discredited that have been tested and rejected by India’s highest courts.

    Pointing that the timings of the report are to undermine the Adani Group’s reputation, the statement read, “The report’s publication clearly betrays a brazen, malafide intention to undermine the Adani Group’s reputation with the principal objective of damaging the upcoming Follow-On-Public Offering from Adani Enterprises.”

    It further said that its investors are unperturbed by the report and have full faith and will not be influenced by “one-sided, motivated and unsubstantiated reports with vested interests.”

    The firm published an investigative document titled ‘Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History‘ and revealed findings of their two-year investigation presenting evidence that the Rs 17.8 trillion worth Adani group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades.

    According to the report, Gautam Adani, the Adani Group’s founder and chairman, has a net worth of about $120 billion, which he has increased by more than $100 billion in the last three years, primarily as a result of stock price growth in the group’s seven most important publicly traded companies, which have increased by an average of 819 percent during that time.

    As a reaction to the announcement, the market capitalization of the seven Adani Group equities fell by 46,086 crore on Wednesday.

    On Wednesday, Adani Total Gas lost Rs 12,366 crore, followed by Adani Ports, which lost Rs 8,342 crore, and Adani Transmission, which lost Rs 8,039 crore.

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    #Malafide #intention #Adani #Group #Hindenburg #Researchs #allegations #fraud

    ( With inputs from www.siasat.com )

  • Plea in Delhi HC against sexual harassment allegations on WFI chief

    Plea in Delhi HC against sexual harassment allegations on WFI chief

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    New Delhi: A plea was moved in the Delhi High Court on Monday against the sexual assault allegations made on Wrestling Federation of India (WFI) chief Brij Bhushan Sharan Singh by multiple wrestlers, including Sakshi Malik, Vinesh Phogat, and Bajrang Punia.

    The lawyer, who submitted the plea said the plea has been filed by Vicky, who is Bhushan’s cook at his official residence.

    In the plea, it is said that Phogat, who is also the first respondent in the plea, started blackmailing him for resigning from the post of WFI president on the pretext of protesting against the sexual harassment of the wrestlers.

    It is said that the media thinks of itself as Janata Adalat and has started intervening in the proceedings of the court.

    It is contended that wrestlers, instead of moving to court, have approached the media to show their concern, said the petition.

    In the petition, it has been argued that respondents (wrestlers) have crossed all their limits to approach the issue and that his reputation and dignity was being tarnished.

    It further claimed that sexual harassment laws were being misused and an extortion was being done on him.

    This writ petition is filed against the complete misuse of sexual harassment laws by wrestler women, the petition read.

    It is in the petition that wrestlers are trying to get their own benefits out of this issue.

    Earlier, a huge protest by the wrestlers at Delhi’s Jantar Mantar was called off following assurances from the Centre that grievances would be addressed and Brij Bhushan Sharan Singh was asked to step aside for four weeks.

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    #Plea #Delhi #sexual #harassment #allegations #WFI #chief

    ( With inputs from www.siasat.com )