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Here’s what Supreme Court told SEBI during Adani-Hindenburg report hearing

SC said SEBI cannot take as long time as it want and granted it a period of 3 months to complete the probe.

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Gautam Adani

The Supreme Court said it can grant the Securities and Exchange Board of India (SEBI) an extension of three months to finish the investigation into allegations made by American short-seller Hindenburg in their report of alleged manipulation in Adani Group stocks. 

The apex court said it cannot grant 6 months which SEBI had asked for and said the regulatory body should be pro-active in its investigation.

The Court asked SEBI to prepare a team and granted time till mid-August to submit the final report. The Supreme Court said SEBI cannot take as long a time as it wants and said it can grant a 3-month period to complete the probe.

The Court reserved its order for May 15, Monday. The Bench that heard the matter was led by Chief Justice of India DY Chandrachud and comprised Justice PS Narasimha and Justice JB Pardiwala.

On March 2, the Supreme Court had ordered an investigation into violations, if any, of the securities law by the Adani Group after a bloodbath at the stock market following the Hindenburg report. The Adani Group suffered a loss of more than USD140 billion after the claims.

Read Also: Delhi government moves Supreme Court over transfer of services dept chief

The apex court had ordered the investigation to SEBI, which regulates the capital market in the country, and had also constituted a six-member probe committee headed by retired SC judge Justice AM Sapre.

During the hearing, the CJI-led bench said the Justice Sapre committee had submitted its probe. SEBI had filed an application last month seeking extension in the time provided to it to probe the matter by six months.

In the application, SEBI mentioned that 12 transactions that were mentioned in the Hindenburg report requires rigorous investigations, which in the normal course need 15 months to complete, but looking at the situation, they would require at least 6 months to complete the probe.

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India News

PM Modi welcomes Vladimir Putin with warm hug as Russian President begins India visit

Russian President Vladimir Putin began a high-profile visit to India on Thursday, welcomed by PM Narendra Modi as both nations prepare to discuss defence, energy and trade cooperation.

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Vladimir Putin rides in Indian PM Narendra Modi's car on India visit

Russian President Vladimir Putin arrived in New Delhi on Thursday evening for a 27-hour visit focused on strengthening defence, energy and trade cooperation. The visit, marked by a warm embrace and a brief car ride shared with Prime Minister Narendra Modi, underscores the continuity of the India-Russia strategic partnership amid shifting global geopolitics.

Putin receives ceremonial welcome and packed schedule ahead

Putin landed in Delhi around 6:35 pm, where PM Modi personally received him at Palam airport. The two leaders shared a hug before leaving together, with the Prime Minister set to host a private dinner in honour of the visiting President — a reciprocal gesture to the hospitality extended during Modi’s Moscow visit last year.

On Friday, Putin will begin his official engagements with a ceremonial welcome at Rashtrapati Bhavan, followed by a visit to Rajghat to pay homage to Mahatma Gandhi. He is also scheduled to attend the India-Russia Annual Summit at Hyderabad House, where both sides will hold a working lunch.

The Russian President will later inaugurate a new India-based channel of Russia’s state broadcaster and attend a state banquet hosted by President Droupadi Murmu, before departing India on Friday night.

Defence, energy and trade to dominate agenda

Officials have indicated that discussions will centre on defence, energy and trade — the three pillars of the bilateral relationship. Agreements are expected across sectors including shipping, healthcare, fertilisers and connectivity.

Ahead of the summit, defence ministers from both countries held extensive talks, covering additional procurement of S-400 air defence systems and delayed military hardware shipments affected by the Ukraine war. The S-400 platform, procured under a USD 5 billion deal, played a major role during Operation Sindoor.

The Kremlin has also hinted that Russia may propose the Su-57 fifth-generation fighter jet, which would put Moscow in direct competition with Western aircraft makers.

Energy ties face renewed pressure

India remains among the largest buyers of discounted Russian crude. However, fresh US sanctions on key Russian oil producers have led to a dip in purchases.

Putin’s visit also comes at a time of strain in India-US ties, with Washington recently imposing steep tariffs on Indian goods — including measures linked directly to India’s continued oil trade with Russia.

Massive security deployment in Delhi

Delhi Police have stationed over 5,000 personnel across central and New Delhi districts, supported by SWAT teams, anti-terror units, snipers, quick-reaction teams, anti-drone systems, HD-CCTV networks and layered surveillance measures for the visit.

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India News

Putin begins two-day India visit today, defence, energy and trade talks on agenda

Russian President Vladimir Putin arrives in New Delhi today for a two-day visit that will focus on defence, energy and trade, including S-400 deliveries and crude oil supply discussions.

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Russian President Vladimir Putin arrives in New Delhi today for a two-day visit that is set to focus on defence cooperation, energy supplies, mobility agreements and trade expansion. His trip includes a private dinner hosted by Prime Minister Narendra Modi and the 23rd India-Russia Annual Summit.

Key highlights of the visit

President Putin is scheduled to land in the capital this evening, where an informal dinner with PM Modi will set the stage for formal discussions on Friday. He will receive a ceremonial welcome in the morning before visiting Rajghat to pay homage at Mahatma Gandhi’s memorial. The two leaders will then meet at Hyderabad House for the annual summit, followed by a working lunch.

India is expected to raise the issue of pending military hardware deliveries, which have slowed since the Ukraine conflict began. The agenda also includes additional S-400 air defence systems — part of a USD 5 billion contract under which three squadrons have already been delivered. Two more units are expected by mid-next year.

Kremlin spokesperson Dmitry Peskov has indicated that talks may also touch upon India’s interest in the Su-57 fifth-generation fighter aircraft, with New Delhi currently assessing several next-generation platforms.

Energy cooperation will be another crucial component of the dialogue. Russia is expected to update India on efforts to maintain steady crude oil supplies amid US sanctions that have impacted shipments. Peskov noted that supplies may dip briefly, but Moscow is working to stabilise flows.

On the sidelines, Defence Minister Rajnath Singh and his Russian counterpart Andrey Belousov are expected to hold discussions on key military programmes.

President Putin’s visit comes as India navigates recent friction with Washington, including steep tariffs — 50 per cent across several categories and an additional 25 per cent linked to Russian crude oil imports.

The Russian President is also expected to brief PM Modi on the latest US diplomatic moves concerning the Ukraine conflict. India continues to advocate for a resolution based on dialogue and diplomacy while refraining from criticising Moscow.

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India News

IndiGo flight cancellations cross 200 as crew shortage and new duty norms hit operations

IndiGo’s operations witnessed major disruption for the second day, with over 200 cancellations and severe delays triggered by crew shortage under new duty norms.

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India’s largest airline, IndiGo, is grappling with widespread disruption across major airports as flight delays and cancellations continue for the second consecutive day. With operations strained and punctuality plunging sharply, thousands of passengers have been left inconvenienced across Delhi, Mumbai, Bengaluru and Hyderabad.

IndiGo’s on-time performance dips sharply

Government data showed the airline’s on-time performance had dropped to 35%, a rare slump for the carrier known for punctuality. IndiGo, which operates more than 2,200 flights daily, saw over 1,400 flights delayed on Tuesday, followed by around 200 cancellations by Wednesday afternoon.

Mumbai Airport issued an advisory alerting passengers to check their flight status, citing airline-related operational issues impacting departures and arrivals.

New duty norms trigger severe crew shortage

A major factor behind the disruptions is the implementation of revised Flight Duty Time Limitation (FDTL) rules last month. The updated norms mandate longer rest hours and more humane rosters for pilots and cabin crew. Sources indicated many flights were grounded over the past 48 hours as crew availability dipped sharply.

IndiGo acknowledged a “multitude of unforeseen operational challenges” including technology glitches, winter schedule adjustments, weather-related issues and the new rostering norms. The airline said it has begun calibrated schedule adjustments for the next 48 hours to restore normalcy.

FDTL rules cap crew flying to eight hours a day and mandate a minimum rest period of 10 hours within a 24-hour window, with rest time amounting to twice the flight duration.

Airports across India see cancellations

The ripple effect of IndiGo’s disruptions has been felt nationwide:

  • Hyderabad’s RGIA reported 33 cancellations, leading to long queues and disrupted travel plans.
  • Bengaluru Airport saw 42 cancellations, including 22 arrivals and 20 departures, impacting routes to Delhi, Mumbai, Chennai, Goa and Kolkata.
  • Delhi Airport also saw congestion as a slowdown in the Amadeus system, used for check-ins and reservations, added to delays.

Passengers vent frustration

Several passengers took to social media to share their ordeal.
One traveller stranded in Hyderabad since early morning said they missed an important meeting due to continuous delays. Another flyer complained their Udaipur-bound flight was repeatedly delayed, calling the experience “a joke”.

IndiGo issues apology, offers rebooking

IndiGo said it is offering alternate travel options or refunds to affected travellers and urged passengers to check their flight status before leaving for the airport. The airline reiterated its commitment to stabilising operations “as quickly as possible”.

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