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Tag: Row

  • Adani row: SC refuses to accept Centre’s suggestions on expert panel in sealed cover

    Adani row: SC refuses to accept Centre’s suggestions on expert panel in sealed cover

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    Will consider the question of rehabilitation, says SC on night shelter demolition

    New Delhi: The Supreme Court on Friday refused to accept in a sealed cover the Centre’s suggestion on a proposed panel of experts for strengthening regulatory measures for the stock market.

    Observing that it wants to maintain full transparency in the interests of investors, a bench comprising Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala said it would rather not accept the Centre’s suggestion in a sealed cover.

    “We will not accept the sealed cover suggestion by you because we want to maintain full transparency,” the bench said.

    On February 10, the top court had said the interests of Indian investors need to be protected against market volatility in the backdrop of the Adani Group stock rout and asked the Centre to consider setting up a panel of domain experts headed by a former judge to look into strengthening the regulatory mechanism.

    Till now, four PILs have been filed in the top court on the issue by lawyers M L Sharma and Vishal Tiwari, Congress leader Jaya Thakur and activist Mukesh Kumar.

    Adani Group stocks have taken a beating on the bourses after the Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation, against the business conglomerate.

    The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

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    #Adani #row #refuses #accept #Centres #suggestions #expert #panel #sealed #cover

    ( With inputs from www.siasat.com )

  • ‘Bang your thalis at 6 pm’: Mahua mocks Irani on Soros-Adani row

    ‘Bang your thalis at 6 pm’: Mahua mocks Irani on Soros-Adani row

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    TMC MP Mahua Moitra on Friday mocked union minister Smriti Irani for asking Indians to give fitting reply to billionaire investor George Soros for his remarks on the Adani-Hindenburg row and Prime Minister Narendra Modi.

    “Every Indian urged by Hon’ble Cabinet Minister to give fitting reply to George Soros. Please bang your thalis at 6 pm sharp today,” she tweeted.

    After billionaire investor George Soros foretold that Prime Minister Narendra Modi would ‘have to answer questions’ as a result of Indian business tycoon Gautam Adani’s recent stock market woes, union minister Smriti Irani urged Indians to stand as one against “foreign powers who try to intervene in India’s democratic processes.”

    “The man who broke the Bank of England, and is designated by the nation an economic war criminal, has now pronounced his desire to break Indian democracy. George Soros, an international entrepreneur, has declared his ill-intention to intervene in democratic processes of India,” the fiery BJP leader said.

    She claimed that these groups work to overthrow governments in other nations in order to install ‘their hand-picked people.’

    In a speech on Thursday, 92-year-old George Soros predicted that Prime Minister Narendra Modi would be undermined by Gautam Adani’s financial woes. Adani’s companies experienced a severe stock market crash after US-based short seller Hindenburg published a report accusing the Adani group companies of stock manipulation, ‘opening the door’ to a democratic revival in the nation.

    “PM Modi would have to answer questions from foreign investors and parliament on allegations of fraud and stock manipulation at Mr. Adani’s industrial empire,” Soros said.



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    #Bang #thalis #Mahua #mocks #Irani #SorosAdani #row

    ( With inputs from www.siasat.com )

  • Adani row: George Soros says ‘Modi will have to answer’, Govt calls it ‘attempt to break Indian democracy’

    Adani row: George Soros says ‘Modi will have to answer’, Govt calls it ‘attempt to break Indian democracy’

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    Words are of Kejriwal spoken by Italia, says Smriti Irani

    After billionaire investor George Soros foretold that Prime Minister Narendra Modi would “have to answer questions” as a result of Indian business tycoon Gautam Adani’s recent stock market woes, Union Minister Smriti Irani urged Indians to stand as one against “foreign powers who try to intervene in India’s democratic processes.”

    “The man who broke the Bank of England, and is designated by the nation an economic war criminal, has now pronounced his desire to break Indian democracy. George Soros, an international entrepreneur, has declared his ill-intention to intervene in democratic processes of India,” the fiery BJP leader said.

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    #Adani #row #George #Soros #Modi #answer #Govt #calls #attempt #break #Indian #democracy

    ( With inputs from www.siasat.com )

  • Karnataka min invoking Tipu while targeting Siddaramaiah sparks row

    Karnataka min invoking Tipu while targeting Siddaramaiah sparks row

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    Bengaluru: Senior Congress leader Siddaramaiah on Thursday accused Karnataka Minister C N Ashwath Narayan of trying to ‘instigate’ people to kill him as he took exception to the latter’s statement that he should be “knocked out and sent off” like the 18th-century ruler of erstwhile Mysuru Kingdom, Tipu Sultan.

    He urged Chief Minister Basavaraj Bommai to immediately initiate action against Narayan by sacking him from the cabinet.
    The Leader of the Opposition in the state assembly was referring to Narayan’s recent remark in Mandya while targeting him.

    “Tipu’s son Siddaramaiah will come…. Do you want Tipu or Savarkar? Where should we send Tipu Sultan? What did Uri Gowda and Nanje Gowda do? In the same way, he should be knocked out and sent off,” Narayan had said.

    A section in the old Mysuru belt claims that Tipu did not die fighting the British, but was killed by two Vokkaliga chieftains Uri Gowda and Nanje Gowda, which has been disputed by some historians.

    Narayan on his part said, his statement was not personally directed at Siddaramaiah and in case the Congress legislature party leader is hurt, he will express regret.

    He also clarified that he only meant defeating electorally and not causing any physical harm, as being misinterpreted.

    “Higher Education Minister Ashwath Narayan has appealed to people to kill me the way Tipu was killed. Ashwath Narayan, Why are you trying to instigate people? Get the gun yourself,” Siddaramaiah said.

    Expressing surprise that no action has been taken against the minister who has openly appealed people to kill, the former CM in a series of tweets said this shows that Bommai, Home minister Araga Jnanendra and their “incompetent cabinet is sleeping and is in agreement with Ashwath Narayan”.

    Has Gujarat BJP culture crept into Karnataka BJP as well? he asked while seeking to know whether Prime Minister Narendra Modi will remain silent even now just as he was in 2002 (Gujarat riots).

    “Kannadigas will never let Karnataka to become like Gujarat.”

    Urging Bommai to immediately sack Narayan from the cabinet and arrest him, Siddaramaiah said, “If no action is taken, it only means that BJP is in agreement with the appeal or they think Ashwath Narayan has become ‘Mentally Unstable”.

    With his statement snowballing into a controversy, eliciting sharp reaction from opposition party leaders, especially the Congress, Narayan said attempts are being made to present his statement by misinterpreting it.

    “People will not accept such things. He (Siddaramaiah) is the one who compared the Chief Minister to a puppy, called state BJP President a joker, Prime Minister Modi as narahanthaka (mass murderer) I have never tried to divide the society like him in the name of religion and caste. I only meant defeating him in the election through votes and not personal comment or causing any harm to him physically,” he added.

    Addressing reporters in Hubballi, Siddaramaiah said, “Narayan has no business to continue as a Minister, I request the Governor to dismiss him from the cabinet.”

    He was responding to a query regarding Narayan’s regret.

    Claiming that the intention is to polarise votes as they (BJP) fear losing election, Siddaramaiah said, “I will not file any complaint, but it is a fit case in which police have to take suo moto action against Ashwath Narayan.”



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    #Karnataka #min #invoking #Tipu #targeting #Siddaramaiah #sparks #row

    ( With inputs from www.siasat.com )

  • SC being used as ‘tool’ by anti-India forces: RSS-affiliated weekly on BBC docu row

    SC being used as ‘tool’ by anti-India forces: RSS-affiliated weekly on BBC docu row

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    New Delhi: The Supreme Court is allegedly being used as a “tool” by anti-India forces, RSS-linked weekly Panchjanya has said while criticising the apex court for issuing notice to the Centre over pleas challenging its order to block social media links to the BBC documentary on Prime Minister Narendra Modi.

    After efforts to “save” terrorists in the name of human rights, creating “hurdles” in India’s growth in the name of environment, now it is being tried that forces against the country should have the right to do propaganda against it in India itself, an editorial in the latest edition of the magazine said.

    Citing the apex court notice to the Centre on the BBC documentary, the editorial alleged, the “Supreme Court was created for safeguarding the interests of our country but it is being used as a tool by the opponents of India in their efforts to clear their way.”

    The Supreme Court runs on taxpayers’ money and works according to Indian law for the sake of the country, it noted.

    Dubbing the BBC documentary as a “propaganda” to defame India, the editorial said it is “false” and “based on fiction”.

    The editorial also stated that all anti-national forces take advantage of the provisions of “our democracy, our generosity, and our civilisational standards,” against us.

    The Supreme Court has last week dismissed a plea seeking the imposition of a complete ban on the BBC in India in the wake of the controversial documentary, terming the petition “entirely misconceived” and “absolutely meritless”.

    Another set of petitions challenging the government’s decision to block the documentary will be heard in April next.

    On January 21, the government issued directions to block multiple YouTube videos and Twitter posts sharing links to the documentary.

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    #tool #antiIndia #forces #RSSaffiliated #weekly #BBC #docu #row

    ( With inputs from www.siasat.com )

  • China claims US balloons flew over Tibet and Xinjiang as spying row rumbles on

    China claims US balloons flew over Tibet and Xinjiang as spying row rumbles on

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    Diplomatic friction has worsened between the United States and China after Beijing claimed, without evidence, that US high-altitude balloons flew over its Xinjiang and Tibet regions, and threatened unspecified measures against US entities for undermining Chinese sovereignty.

    Washington and Beijing are locked in a tussle over flying objects after the US military this month shot down what it called a Chinese spy balloon over the coast of South Carolina. Beijing said it was a civilian research vehicle mistakenly blown off course, and that Washington overreacted.

    This week, China has claimed US balloons have flown over its airspace without permission more than 10 times on round-the-world flights since May 2022. The White House has disputed this. Beijing has not produced any evidence or specifics of its claims, but on Wednesday claimed US balloons were spotted over the highly securitised regions of Tibet and Xinjiang where Beijing is accused of extensive human rights abuses against the non-Han population.

    “Without the approval of relevant Chinese authorities, it has illegally flown at least 10 times over China’s territorial airspace, including over Xinjiang, Tibet and other provinces,” Chinese foreign ministry spokesperson Wang Wenbin told a regular daily briefing on Wednesday.

    The US deputy secretary of state, Wendy Sherman, reiterated that China’s claims about US balloons were false.

    “They have now said that there have been a gazillion balloons by the US over China. That is absolutely not true. There are no US government balloons over China,” she told an event at the Brookings Institution in Washington.

    Wang also accused Japan’s government of making “unfounded allegations” after the saga prompted the defence ministry in Tokyo to reanalyse sightings of unidentified aerial objects since November 2019.

    The ministry announced late on Tuesday that new analysis “strongly” suggested they were Chinese spy balloons and it had “strongly demanded China’s government confirm the facts”.

    Wang accused Japan of “smearing” China “without any solid evidence … China has repeatedly shared information on the unintended entry of a Chinese civilian unmanned airship into US airspace. Japan should adopt an objective and just position, view this unexpected incident caused by force majeure in the right way, and stop following the US’s suit in dramatising it.”

    Washington has added six Chinese entities to an export blacklist over connections to Beijing’s suspected surveillance balloon programme. Wang called the sanctions illegal. “China is firmly opposed to this and will take countermeasures against relevant US entities that undermine China’s sovereignty and security in accordance with the law,” Wang said, without specifying the measures.

    The balloon dispute has delayed efforts by both sides to try to patch up frayed relations, although Joe Biden, the US president, has said he does not believe ties between the two countries have been weakened.

    The US secretary of state, Antony Blinken, who postponed a planned trip to Beijing over the balloon, is considering meeting China’s top diplomat, Wang Yi, in Munich this week, sources have said.

    His deputy, Wendy Sherman, said on Wednesday that communication with China had not stopped but gave no details about any future high-level meetings.

    “We hope when conditions make sense that we will be seeing each other face-to-face again. No announcements today,” she said.

    With Reuters

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    #China #claims #balloons #flew #Tibet #Xinjiang #spying #row #rumbles
    ( With inputs from : www.theguardian.com )

  • Adani-Hindenburg row: SC agrees to hear fresh PIL of Congress leader on Feb 17

    Adani-Hindenburg row: SC agrees to hear fresh PIL of Congress leader on Feb 17

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    2023 2img02 Feb 2023 PTI02 02 2023 000029B scaled

    New Delhi: The Supreme Court on Wednesday agreed to hear on February 17 a fresh plea of a Congress leader seeking investigation under the supervision of a sitting apex court judge against the Adani Group of companies in light of the allegations made by the US-based Hindenburg Research.

    A bench comprising Chief Justice D Y Chandrachud and Justice P S Narasimha took note of the submissions of a lawyer, representing Congress leader Jaya Thakur, that the plea needed an urgent hearing.

    The bench initially agreed to list the PIL for hearing on February 24 and later decided to hear on Friday after the lawyer pointed out that two other PILs are listed on February 17.

    Thakur has also sought a direction for investigating the role of the Life Insurance Corporation of India (LIC) and the State Bank of India (SBI) in investing huge amounts of public money in Adani Enterprises.

    On Monday, the Centre had agreed to the apex court’s proposal to set up a panel of experts to look into strengthening the regulatory mechanisms for the stock market following the recent Adani group shares crash triggered by Hindenburg Research’s fraud allegations.

    The top court seized two petitions alleging exploitation of innocent investors and “artificial crashing” of the Adani Group’s stock value.

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    #AdaniHindenburg #row #agrees #hear #fresh #PIL #Congress #leader #Feb

    ( With inputs from www.siasat.com )

  • Adani row: Jairam Ramesh urges RBI, SEBI to probe allegations

    Adani row: Jairam Ramesh urges RBI, SEBI to probe allegations

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    New Delhi: Senior Congress leader Jairam Ramesh has written to the Reserve Bank of India (RBI) Governor Shaktikanta Das and Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch and sought an investigation into allegations of financial irregularities and stock manipulation against the Adani Group.

    In his letter to Das posted on Twitter on Wednesday, Ramesh urged the RBI to ensure that “excessive debt exposure” by the Adani Group currently and in the future does not destabilise India’s banking system.

    “The Adani Group has been described as ‘deeply over-leveraged’ – if the Adani Group has artificially inflated the value of its stock through manipulation by offshore shell companies and raised funds by pledging those overvalued shares, the recent sell off in stock prices is creating vulnerabilities for the Adani Group to find financing, and by implication for India’s banking system,” the Congress MP said in his letter dated February 14.

    Ramesh called on the RBI to look into two aspects what is the true Adani Group exposure of the Indian banking system and what are the explicit and implicit guarantees that the Adani Group has been given that it will be bailed out by Indian banks if foreign funding dries up.

    “Will the RBI ensure that Indian banks are not forced to step in to substitute for any shortfall in foreign financing, especially given the Adani Group’s political connections,” Ramesh asked.

    Public sector financial institutions like the Life Insurance Corporation of India and the State Bank of India have been “unusually generous” to the Adani Group in recent years, the Congress leader alleged.

    The RBI must ensure that risks to financial stability are investigated and contained, he said in his letter.

    The risks of contagion from any collapse in the Adani Group’s ability to secure financing must be monitored constantly, Ramesh argued.

    “As the steward of the financial system, the RBI must do everything possible to protect India’s banks and financial institutions, and we urge you to act in the national interest to ensure that India’s taxpayers do not pay the price for the ‘misgovernance’ and potential ‘illegalities’ of one influential business house,” he wrote to Das.

    Ramesh also posted his letter to SEBI chief Buch on Twitter saying, many Indian citizens were disturbed by the allegations that the Adani Group has indulged in “brazen stock manipulation” and “accounting fraud” via a “vast labyrinth of offshore shell entities”.

    “Apart from the potential violation of several Indian laws, this goes against everything that the Securities and Exchange Board of India (SBI) stands for. We urge you to investigate all potential violations and to ensure complete transparency about who is investing in Adani Group companies,” Ramesh said.

    “Given the Adani Group’s size and political connections, it is incumbent that such investigations are seen as fair and complete, with no favour shown to the influential business group,” the Congress general secretary stressed.

    Any failure to do so will cast a shadow on Indian corporate governance and on India’s financial regulators, and could affect our ability to raise funds globally, he argued.

    In his letter, Ramesh asked why financial institutions of national importance such as the Life Insurance Corporation of India (IIC) and the State Bank of India (SBI) have “heavily bought” Adani Group equity when most private funds have been severely underweight because of concerns over corporate governance and indebtedness.

    “LIC, which 30 crore Indians trust with their life savings, has lost thousands of crores in Adani Group stock in recent days. Should we not ensure that such public sector financial institutions are more conservative in their investments than their private sector counterparts and free from pressure from above?” Ramesh said.

    The inclusion of Adani Enterprises in the widely used National Stock Exchange Nifty 50 index in September 2022 occurred despite the firm’s weak fundamentals, an excessive price-to-earnings ratio and a tiny free float, he alleged.

    He further claimed that adding Adani Enterprises compelled supposedly conservative Nifty index funds to make significant purchases of this risky stock, including the Employees Provident Fund Organisation, India’s largest pension fund.

    “In recent days, global stock indices have suspended Adani Group companies while the matter is investigated, but the NSE has failed to take any similar action to protect investors,” Ramesh said.

    Is it not SEBI’s responsibility to ensure that index investors are protected from investing in questionable firms, he asked.

    “We urge SEBI to play its role as the steward of India’s financial markets on behalf of the crores of Indians who have faith in the fairness of India’s financial markets,” the Congress leader said.

    Ramesh shared the letters on Twitter and said that he has expressed the hope that a “full-fledged independent investigation will be carried on the numerous allegations against the ‘PM-blessed’ Adani Group”.

    The Congress has been demanding a Joint Parliamentary Committee probe into the allegations against the Adani Group by US-based short-seller Hindenburg.

    The Adani Group has dismissed the allegations as baseless.



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    #Adani #row #Jairam #Ramesh #urges #RBI #SEBI #probe #allegations

    ( With inputs from www.siasat.com )

  • After row, HAL removes Lord Hanuman’s picture from HLFT-42 aircraft

    After row, HAL removes Lord Hanuman’s picture from HLFT-42 aircraft

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    hanuman

    Bengaluru: Hindustan Aeronautics Limited (HAL) removed the picture of Lord Hanuman from the HLFT-42 aircraft model displayed at the Aero India 2023 airshow following controversy.

    The picture of Lord Hanuman was embossed on the tail of the HLFT-42 aircraft model.

    Union Minister for Mine, Coal, Law and Parliamentary Affairs Pralhad Joshi on Monday tweeted about the Lord Hanuman picture and expressed his happiness over it.

    Taking a line of the prayer dedicated to Lord Hanuman, Joshi had shared the pictures of HLFT-42, a super jet model. “The picture of Bajrangbali (Lord Hanuman) is specially highlighted on the jet,” he had said.

    The pictures went viral on social media stirring a debate on printing the image of the Hindu God image over the fighter jet. Some critical voices said that the armed forces should not have any religious representation as that would affect the morale of the soldiers.

    HAL after noticing the controversy removed the picture thereby putting an end to the debate in this regard.

    HLFT-42, Hindustan Lead in Fighter Trainer is regarded as the ‘Next Generation Supersonic Trainer’. The HAL is displaying the model for the first time at the Aero India Show 2023.

    The jet is expected to play a critical role in modern combat aircraft training with state-of-the-art avionics like Active Electronically Scanned Array, Electronic Warfare Suite, Infrared Search and Track with Fly by Wire Control system.

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    #row #HAL #removes #Lord #Hanumans #picture #HLFT42 #aircraft

    ( With inputs from www.siasat.com )

  • Why not JPC in Hindenburg Adani row, asks Congress after Centre response in SC

    Why not JPC in Hindenburg Adani row, asks Congress after Centre response in SC

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    To say demonetisation was upheld is misleading, wrong: Congress on SC verdict

    New Delhi: In wake of the Centre telling the Supreme Court that the government has no objections on committee to probe the matter in wake of the Adani-Hindenburg Group episode, Congress leader Jairam Ramesh on Monday questioned the government on why it was not agreeing to a joint parliamentary committee (JPC).

    “Today in Supreme Court Solicitor General said Govt has no objection to a commitee to examine the Hindenburg report on Adani. Then why the stubborn refusal to a JPC which will anyway be dominated by BJP & its allies? But will the proposed committee investigate Hindenburg or Adani?” he said.

    Various opposition parties have been demanding a JPC to examine the whole issue as they alleged that many PSBs and LIC have lost money.

    The Central government on Monday informed the Supreme Court that the existing structure, which includes the Securities and Exchange Board of India (Sebi) and others agencies, are fully equipped to handle the situation which occurred after Hindenburg report on Adani group, and it would not oppose the court’s suggestion to constitute a committee to strengthen the existing regime.

    It stressed that the court could permit it to suggest the remit of that committee with possible suggestions of names of the committee.

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    #JPC #Hindenburg #Adani #row #asks #Congress #Centre #response

    ( With inputs from www.siasat.com )