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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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Congress chief Kharge says PM Modi was addressing rally in Bihar after skipping all-party meet on Pahalgam terror attack

“If you stop the water, where will you store it? Do we have the dams for it? These issues will be addressed later, not now,” he cautioned.

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Congress president Mallikarjun Kharge sharply criticized Prime Minister Narendra Modi on Saturday for skipping an all-party meeting in Delhi convened to address the Pahalgam terror attack, which killed 26 people.

Kharge accused the Prime Minister of not treating the tragedy with the seriousness it deserved, pointing out that Modi chose to address an election rally in Bihar instead of attending the crucial discussion.

Speaking to reporters, Kharge revealed that the all-party meeting, attended by himself, Leader of Opposition Rahul Gandhi, and representatives from various political parties, saw Defence Minister Rajnath Singh, who chaired the session, acknowledge security lapses in the attack.

“I raised the issue of the Prime Minister’s absence right at the start. When 26 lives have been lost and many injured, his absence shows a lack of seriousness,” Kharge said, expressing dismay at Modi’s decision to prioritize a campaign event over national security deliberations.

Kharge lamented the government’s failure to protect citizens despite a three-tier security system in Pahalgam. “Instead of addressing us on how this happened—whether it was a security, intelligence, or police failure—Modi was busy delivering speeches in Hindi and English at a rally,” he remarked.

He disclosed urging Union Home Minister Amit Shah to treat the incident as a challenge and ensure such tragedies are prevented in the future. “Shah assured us that steps would be taken to avoid recurrence,” Kharge noted, stressing the need for robust arrangements.

Emphasizing national unity, Kharge affirmed the Opposition’s support for the government’s decisions in combating terrorism. “We stand together to protect the country. This isn’t the time to pinpoint flaws but to unite,” he said, refraining from immediate criticism of specific measures.

However, he raised concerns about India’s suspension of the 1960 Indus Waters Treaty with Pakistan, questioning the government’s preparedness. “If you stop the water, where will you store it? Do we have the dams for it? These issues will be addressed later, not now,” he cautioned.

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Pakistan PM Sharif says ready for neutral investigation into Pahalgam terror attack

Prime Minister Narendra Modi vowed on Thursday to “track and punish” those responsible for the attack, promising to pursue terrorists and their supporters relentlessly.

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Pakistan Prime Minister Shehbaz Sharif expressed readiness for a “neutral, transparent, and credible” investigation into the deadly Pahalgam terror attack in Jammu and Kashmir, which killed 26 people on April 22.

Speaking at a military academy event in Abbottabad, Sharif rejected India’s accusations of Pakistan’s involvement in “cross-border terrorism,” emphasizing Islamabad’s openness to an impartial probe to uncover the truth behind the attack that targeted tourists in the scenic Baisaran meadow.

Sharif also underscored the strength of Pakistan’s military, stating, “Our armed forces are fully equipped to safeguard our sovereignty and territorial integrity against any aggression, as proven by their resolute response to India’s reckless incursion in February 2019.”

His remarks came amid escalating tensions, with both nations imposing severe retaliatory measures. India suspended the Indus Waters Treaty, citing Pakistan’s alleged support for terrorism, while Pakistan closed its airspace to Indian airlines and warned that any attempt to disrupt Indus water flows would be treated as an “act of war.”

The situation along the Line of Control (LoC) worsened, with the Indian Army reporting “unprovoked” small arms fire from multiple Pakistani posts overnight on Friday, marking the second consecutive night of cross-border exchanges.

“Indian troops responded appropriately with small arms,” the Army stated, noting no casualties. Pakistan has not officially confirmed the incident, though both sides acknowledged similar gunfire the previous night.

Diplomatic relations have deteriorated sharply. Pakistan expelled Indian diplomats and military advisers, revoked visas for Indian nationals (except Sikh pilgrims), and closed the Wagah border crossing. India, in turn, implemented measures like suspending visa services for Pakistanis and reducing diplomatic staff in Islamabad.

Prime Minister Narendra Modi vowed on Thursday to “track and punish” those responsible for the attack, promising to pursue terrorists and their supporters relentlessly.

The United Nations has called for “maximum restraint” from both nations, which have a history of multiple wars, while U.S. President Donald Trump minimized the crisis, suggesting it would be resolved “one way or another.”

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MP tourism department rejects association with influencer Tanya Mittal after she says terror has no religion amid Pahalgam attack uproar

Critics argued that her comment oversimplified a fraught issue, failing to resonate with a nation mourning the Pahalgam victims and navigating heightened security concerns.

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Influencer Tanya Mittal has ignited a firestorm of controversy with her statement, “Terrorism has no religion,” made in the wake of the devastating Pahalgam terror attack in Jammu and Kashmir that claimed 26 lives.

The remark, shared across her sizable Instagram and YouTube platforms, aimed to denounce terrorism but instead triggered widespread backlash for appearing to trivialize the tragedy’s gravity.

Social media erupted with criticism, with many users slamming Mittal for her perceived insensitivity at a time when the nation grapples with the attack’s aftermath. The timing and context of her comment, seen as glossing over the complex religious and political dimensions of the incident, fueled heated debates online.

While a few supporters defended her call for unity, the majority deemed her words ill-judged, arguing that addressing terrorism requires acknowledging its deeper roots rather than resorting to broad platitudes.

Amid the uproar, speculation swirled about Mittal’s alleged ties to the Madhya Pradesh Tourism Department, prompting the agency to issue a swift clarification.

“Ms. Tanya Mittal is not associated with MP Tourism in any capacity,” the department stated, countering erroneous media reports and social media posts that had linked her to their campaigns. The move aimed to shield the department’s reputation from the influencer’s controversial stance.

The episode underscores the delicate role influencers play in shaping public discourse. With millions of followers, figures like Mittal wield significant sway, but their statements on sensitive issues like terrorism carry weighty responsibilities. Critics argued that her comment oversimplified a fraught issue, failing to resonate with a nation mourning the Pahalgam victims and navigating heightened security concerns.

The Madhya Pradesh Police have also intensified their crackdown on inflammatory online content related to the attack, recently arresting two individuals in Damoh for posting objectionable material. This reflects India’s growing vigilance over digital narratives surrounding national security.

The controversy has sparked broader discussions about influencer accountability. While Mittal’s intent may have been to promote peace, her words highlighted the risks of addressing complex issues without nuance.

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