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Adani issue: Supreme Court says no to Centre’s sealed cover panel suggestion

Citing the need to maintain “full transparency”, the Supreme Court, Friday, turned down a sealed cover suggestion from the Centre on a proposed panel of experts to strengthen regulatory measures for the stock market in the wake of the recent rout in the shares of the Adani Group.

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Citing the need to maintain “full transparency”, the Supreme Court, Friday, turned down a sealed cover suggestion from the Centre on a proposed panel of experts to strengthen regulatory measures for the stock market in the wake of the recent rout in the shares of the Adani Group.

A bench comprising Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala, told the Centre that it will not accept the sealed cover suggestion because the apex court wants to maintain full transparency in the interest of the investors.

Taking into account the Adani Group share crisis, the Supreme Court had on February 10, said the interests of investors in the country need to be protected against market volatility while also directing the Centre to consider setting up panel of domain experts headed by a former judge to look into strengthening the regulatory measures.

Adani Group has endured over $120 billion in market losses- nearly half of the conglomerate’s estimated value—since the damning report released by US short-seller Hindenburg Research last month.

Hindenburg Research published a report last month, accusing the Adani Group of indulging in improper use of offshore tax havens and stock manipulation while also raising concerns about high debt and the valuations of seven listed Adani companies.

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The group has denied the allegations, saying the short-seller’s narrative of stock manipulation has “no basis” and stems from an ignorance of Indian law, adding that it has always made the necessary regulatory disclosures.

However, the short-seller hit back with a scathing response titled “Fraud cannot be obfuscated by nationalism or a bloated response that ignores every key allegation we raised,”.

Hindenburg Research accused the Adani Group of holding back India’s progress by draping itself in the Indian flag while systematically looting the nation.

On February 2, Thursday, the National Stock Exchange (NSE) put Adani Ports, Adani Enterprises, and Ambuja Cements under additional surveillance measure (ASM) framework, thus requiring 100 precent margin to trade in their shares.

The Adani Group, led by billionaire chairman Gautam Adani—who himself has faced a massive dip in personal fortune and dropped out of the Forbes top 10 rich list—cancelled its fully subscribed Rs 20,000 crore Follow-On Public Offering (FPO) and returned money to its investors.

The Adani crisis also put the Prime Minister in the firing zone as Opposition parties have levelled allegations of a nexus between Gautam Adani meteoric rise since Narendra Modi’s election to the nation’s top post in 2014. However, PM Modi hasn’t directly issued a response instead resorting to taking snide jibes at his political opponents without naming anyone.

Adani’s downfall will weaken PM Modi, spur democratic revival in India: George Soros

Madhya Pradesh court sentences fire department officer to 4 years in jail for submitting fake engineering degree

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Pawan Khera faces fresh setback as Supreme Court refuses relief in passport row case

Congress leader Pawan Khera faces fresh setback as Supreme Court refuses interim relief and directs him to seek bail from Guwahati High Court.

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Pawan Khera

Congress leader Pawan Khera suffered another legal setback on Friday after the Supreme Court of India declined to extend protection in a case linked to his remarks about Himanta Biswa Sarma’s wife.

A bench of the apex court refused to interfere with an earlier order that had stayed the transit anticipatory bail granted to Khera by the Telangana High Court. This decision leaves the Congress leader open to possible arrest by Assam Police in connection with the case.

During the hearing, Khera’s counsel sought interim protection, but the court declined the request and advised him to approach the appropriate court in Assam for relief. The bench clarified that the Guwahati High Court should decide any bail plea independently and on its merits.

“Am I a terrorist?” remark during hearing

While seeking protection, Khera’s legal team expressed concern over the urgency of the situation. In court, his counsel remarked, “Am I a terrorist?” highlighting the plea for temporary relief until a fresh bail application could be filed.

The Supreme Court also raised concerns over the submission of incorrect documents during the proceedings, adding another layer to the legal complications faced by the Congress leader.

Case linked to remarks on CM’s wife

The case stems from a press conference held earlier this month, where Khera made allegations regarding the citizenship status and financial assets of the Assam Chief Minister’s wife, Riniki Bhuyan Sharma.

He had claimed that she possessed multiple passports and owned undisclosed overseas properties. These allegations were strongly denied by the Chief Minister’s family, who termed them fabricated and misleading.

Legal battle intensifies

Earlier, the Telangana High Court had granted Khera temporary transit anticipatory bail, allowing him time to seek relief from a competent court in Assam. However, the Supreme Court stayed that order following a challenge by Assam authorities, escalating the legal battle.

With the latest ruling, Khera is now expected to move the Guwahati High Court for anticipatory bail as the case continues to unfold.

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Congress suspends 5 Haryana MLAs over cross-voting in Rajya Sabha polls

Congress suspends five Haryana MLAs for cross-voting in Rajya Sabha elections, citing serious indiscipline and anti-party activities.

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The Congress has suspended five of its MLAs in Haryana for cross-voting during the recent Rajya Sabha elections, taking disciplinary action over what it described as “anti-party activities”.

The move came after the state unit reviewed the conduct of certain legislators during the polls, where some were found to have voted against the party’s authorised candidate.

Five MLAs suspended after disciplinary process

According to party sources, the MLAs were issued show-cause notices seeking an explanation for their actions. After reviewing their responses, the Congress disciplinary committee recommended suspension.

The decision was approved by the party leadership, including Congress president Mallikarjun Kharge, and has been implemented with immediate effect.

Party calls it ‘grave indiscipline’

Haryana Congress chief Udai Bhan said the action was necessary to uphold party discipline, stressing that defying the official party line during elections weakens organisational unity.

He said the party takes such violations seriously and will continue to act against any form of indiscipline.

Leadership backs strict action

Senior Congress leader and Leader of Opposition Bhupinder Singh Hooda supported the decision, saying it was taken after due consideration.

He noted that while Rajya Sabha elections are conducted through an open ballot system, allowing legislators some flexibility, the party retains the authority to initiate internal disciplinary action in cases of deviation.

Background

The action follows cross-voting reported during the recent Rajya Sabha elections in Haryana, which led to internal concerns within the party. The development has highlighted organisational challenges and prompted the leadership to take corrective steps to reinforce discipline.

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Harivansh set to be elected Rajya Sabha Deputy Chairperson unopposed

Harivansh is set to be elected unopposed as Rajya Sabha Deputy Chairman after no opposition nominations were filed before the deadline.

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Former Rajya Sabha Deputy Chairman Harivansh is set to be re-elected to the same post unopposed in the election due to be held later today.
The date has been fixed by the Chairman under the relevant rules governing the conduct of business in the Upper House.
According to sources, the deadline for submitting motions for the election was 12 noon on April 16. A total of five notices were received within the stipulated time, all proposing Harivansh for the post.

Multiple nominations, single candidate
The motions were submitted by members across parties, including Jagat Prakash Nadda, Nitin Nabin, Nirmala Sitharaman, Sanjay Kumar Jha, and Jayant Chaudhary, each backed by seconding members.
All five motions explicitly state that Harivansh be chosen as the Deputy Chairman of the Rajya Sabha.

No opposition nomination filed

Notably, no motion was submitted by the Opposition before the deadline. This effectively clears the path for a unanimous election, as there is no contest for the position.
As per parliamentary procedure, motions will be taken up one by one. Once any one motion is adopted by the House, the remaining motions will not be put to vote.

Likely to be elected by voice vote
In line with established practice, the first motion — expected to be moved by Nadda — may be adopted through a voice vote. Following this, the Chairman will formally declare Harivansh as elected Deputy Chairman.
After the declaration, Harivansh will be escorted to the Chair by members from both the Treasury and Opposition benches, adhering to parliamentary convention.

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