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Factually baseless: SEBI on claims of investigations against Adani Group since 2016

The Securities and Exchange Board of India (SEBI) on Monday told the Supreme Court that all claims that the market regulator has been investigating the Adani Group since 2016 are “factually baseless” and one must not jump to “premature and wrong conclusions” in the case.

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Adani Group

The Securities and Exchange Board of India (SEBI) on Monday told the Supreme Court that all claims that the market regulator has been investigating the Adani Group since 2016 are “factually baseless” and one must not jump to “premature and wrong conclusions” in the case.

In an affidavit filed in the Apex court, SEBI said that no listed company of the Adani Group was among the list of 51 companies that it had investigated for issuing of Global Depository Receipts or GDRs.

According to the affidavit, filed in response to a plea claiming that SEBI had been investigating the Adani group since 2016 and had opposed a six-month extension to its ongoing probe, the market regulator clarified that the ‘investigation’ “referred to in paragraph 5 of the reply affidavit has no relation and/or connection to the issues referred to and/or arising out of the Hindenburg Report.”

It further said that matter pertains to the issuance of GDRs by 51 Indian listed companies which the SEBI was investigating, adding that no listed company of Adani Group was part of the aforesaid 51 companies.

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The SEBI said that after the completion of the investigation, appropriate enforcement actions were taken. Hence, the claims that the SEBI is investigating the Adani Group since 2016 are “factually baseless.”

The regulator said the six-month extension is to ensure that a thorough investigation is carried out keeping in mind the interest of investors and the securities market.

The Supreme Court had on March 2, directed the SEBI to investigate violations by the Adani Group, if any, before and after the release of the damning Hindenburg report.

The SEBI had been asked to file a report within two months, however, on April 29, the regulator filed for a six-month extension to complete the investigation.

Adani Group 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.

In its critical report, Hindenburg Research accused 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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Pakistan Defence Minister Khawaja Asif says his country has been supporting terrorist organisations for US for three decades

“If India launches an all-out attack, it will lead to an all-out war with catastrophic consequences,” he said, emphasizing the dangers of a clash between two nuclear powers.

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Pakistan Defence Minister Khawaja Asif sparked controversy by alleging that India “staged” the recent Pahalgam terror attack, which claimed 26 lives, while admitting that Pakistan has supported terrorist groups for decades at the behest of the US, Britain, and other Western nations.

In an interview with a British news channel, Asif warned that India’s response to the attack could precipitate an “all-out war” between the two nuclear-armed neighbours, urging the international community to be alarmed by the prospect of such a conflict.

Asif claimed that Pakistan’s military is “fully prepared” to counter any Indian aggression, promising a “measured response” to any provocation. “If India launches an all-out attack, it will lead to an all-out war with catastrophic consequences,” he said, emphasizing the dangers of a clash between two nuclear powers.

While expressing hope for a diplomatic resolution, he accused India of orchestrating the Pahalgam attack to create a regional crisis.

“Delhi’s reaction was predictable. We believe this was staged to stir trouble, especially for Pakistan,” he stated, without providing evidence. When pressed to clarify, Asif doubled down, asserting, “Absolutely, India creates such situations,” though he added that Pakistan’s government has unequivocally condemned terrorism in all forms.

Addressing Pakistan’s history of supporting terrorism, Asif made a startling admission: “For three decades, we did the dirty work for the United States, Britain, and the West. That was a grave mistake. If we hadn’t joined the wars against the Soviet Union and post-9/11, Pakistan’s record would have been spotless.”

He acknowledged the heavy toll this involvement has taken on Pakistan, citing it as a reason for the country’s tarnished reputation.

India has not yet officially responded to Asif’s provocative remarks. Following the Pahalgam attack, New Delhi announced stringent measures, including suspending the Indus Waters Treaty of 1960, closing the Attari Integrated Check Post, and revoking SAARC Visa Exemption Scheme privileges for Pakistani nationals, who were given 48 hours to leave. The strength of diplomatic missions in both countries was also reduced.

Prime Minister Narendra Modi vowed that the perpetrators and their conspirators would face severe consequences, asserting that the resolve of 1.4 billion Indians would dismantle terrorism’s remaining strongholds.

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Former ISRO chairman K Kasturirangan passes away, PM Modi pays condolences

ISRO announced that his body would be kept at the Raman Research Institute (RRI) on April 27 from 10:00 a.m. to 12:00 p.m. for the public to pay their last respects.

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Dr. K. Kasturirangan, the former chairman of the Indian Space Research Organisation (ISRO), passed away at his residence in Bengaluru on April 25, 2025, at 10:43 a.m. He was 84. Prime Minister Narendra Modi expressed deep condolences, hailing him as a luminary of Indian science and education.

ISRO announced that his body would be kept at the Raman Research Institute (RRI) on April 27 from 10:00 a.m. to 12:00 p.m. for the public to pay their last respects.

Dr. Kasturirangan, who served as ISRO’s fifth chairman from 1994 to 2003 and as Secretary of the Department of Space for over nine years, left an indelible mark on India’s space programme during his four-decade career.

He played a pivotal role in landmark missions, serving as project director for India’s first experimental earth observation satellites, BHASKARA-I and II, and leading the development of the first operational Indian Remote Sensing satellite, IRS-1A.

As director of the ISRO Satellite Centre, he oversaw the creation of advanced spacecraft, including the Indian National Satellite (INSAT-2), IRS-1A, IRS-1B, and scientific satellites like IRS-P3 and P4.

Under his chairmanship, the Polar Satellite Launch Vehicle (PSLV) was operationalised, and the Geosynchronous Satellite Launch Vehicle (GSLV) achieved its first successful flight test.

His leadership saw the launch of the world’s finest civilian satellites, IRS-1C and 1D, and the development of second- and third-generation INSAT satellites, cementing India’s position among the elite space-faring nations. ISRO credits his efforts with elevating India’s global standing in space technology.

A recipient of the Padma Shri, Padma Bhushan, and Padma Vibhushan, Dr. Kasturirangan earned his Bachelor’s and Master’s degrees in Physics from Bombay University and a Doctorate in Experimental High Energy Astronomy from the Physical Research Laboratory, Ahmedabad, in 1971.

Beyond ISRO, he served as a Rajya Sabha member and was part of the Planning Commission during the UPA government. More recently, he chaired the drafting committee for the National Education Policy 2020 and led the steering committee for the National Curriculum Framework.

His 2013 Kasturirangan Committee report identified 59,940 sq. km of the Western Ghats as ecologically sensitive, influencing conservation efforts across six states.

In his condolence message, Prime Minister Modi described Dr. Kasturirangan as a “towering figure” whose visionary leadership propelled India’s space programme to new heights and earned global acclaim.

“His dedication to innovation and ambitious satellite launches will inspire generations. His contributions to education and policy will remain etched in our nation’s history,” Modi said.

Dr. Kasturirangan’s passing marks the end of an era, but his legacy as a scientist, policymaker, and nation-builder will continue to guide India’s aspirations in space and beyond.

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Hafiz Saeed-directed terror module exposed after Pahalgam attack, Junaid Bhatt neutralised

Lashkar-e-Taiba module behind the recent Kashmir attacks has been busted with the killing of top operative Junaid Bhatt. Massive diplomatic retaliation follows.

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HAFIZ SAEED

A major counter-terror operation in Jammu and Kashmir has led to the elimination of Junaid Ahmed Bhatt, a high-ranking Lashkar-e-Taiba (LeT) terrorist involved in orchestrating a series of deadly attacks including the recent massacre in Sonamarg. Bhatt, classified as an ‘A+ category’ militant and originally from Kulgam, was gunned down by security forces during an encounter in Dachigam in December 2024.

Module operated under Lashkar leadership

Bhatt was a pivotal figure in a Lashkar-e-Taiba module that, according to intelligence reports, functions under the direct command of Lashkar chief Hafiz Saeed and his deputy Saifullah, both believed to be operating from Pakistani soil. The group reportedly receives not only ideological motivation but also strategic support from Pakistan’s military establishment and the Inter-Services Intelligence (ISI).

While the module includes a majority of foreign operatives, several local elements and overground workers from the Kashmir Valley assist the network by providing shelter and logistical support. Following coordinated attacks, the group’s operatives often go underground, using forest cover to evade security operations until fresh instructions arrive from handlers across the border.

Brutality of Pahalgam attack unveiled

The group’s involvement came into focus after the chilling Pahalgam attack, where terrorists targeted civilians at three different locations in the scenic Baisaran valley. In the gruesome assault, five people were shot dead at a single spot, two were gunned down in an open field, and more were targeted near a fenced enclosure. Survivors recounted that the attackers even engaged them in short conversations before opening fire, pointing to a calculated and cold-blooded execution.

The Jammu and Kashmir Police have released sketches of three suspects in the case. Two of them, identified as Hashim Musa alias Suleman and Ali Bhai alias Talha, are believed to be Pakistani nationals, while the third, Abdul Hussain Thokar, is a local from Anantnag. Authorities have announced a cash reward of ₹20 lakh for credible leads aiding in their arrest. A suspected hideout used by the module has also been uncovered in forested terrain nearby.

High-level security response and diplomatic measures

In response to the escalating threat, India’s top security panel—the Cabinet Committee on Security (CCS)—held an emergency meeting chaired by Prime Minister Narendra Modi. The panel, which included senior figures like Home Minister Amit Shah and National Security Adviser Ajit Doval, rolled out a series of stringent countermeasures.

From May 1, both India and Pakistan will downsize their diplomatic missions, slashing staff numbers from 55 to 30. Military and intelligence personnel from Pakistan stationed at its High Commission in Delhi have been ordered to leave India within a week, while Indian representatives in Islamabad will also be withdrawn.

Further, the SAARC Visa Exemption Scheme for Pakistani nationals has been suspended, and all existing visas under this provision have been revoked. Pakistani citizens residing in India under the scheme have been directed to exit the country by May 1. The Attari-Wagah border crossing has also been closed indefinitely. India has additionally suspended the Indus Waters Treaty of 1960.

Massive protests were witnessed outside the Pakistan High Commission in Delhi, as demonstrators demanded justice and accountability. Demonstrations have also spread across Jammu and Kashmir and other parts of India, underlining the widespread public outrage against the Pahalgam attack.

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