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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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Supreme Court

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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Abhishek Banerjee presents alleged dead voters at poll rally, attacks EC over SIR

Abhishek Banerjee displayed 10 people allegedly marked as dead in Bengal’s draft electoral rolls, accusing the Election Commission and BJP of undermining voting rights through the SIR exercise.

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Abhishek Banerjee

Trinamool Congress MP Abhishek Banerjee on Tuesday intensified his attack on the Election Commission and the BJP-led Centre, presenting 10 people at a public rally who were allegedly marked as dead in the draft electoral rolls during the ongoing Special Intensive Revision (SIR) exercise in West Bengal.

Addressing the gathering in Cooch Behar, the Trinamool national general secretary called the individuals on stage and claimed they had been wrongly declared deceased despite being residents of the district since birth. He alleged that their names were struck off the electoral rolls during the SIR process.

Banerjee accused the Election Commission of acting under political influence and said the ongoing exercise was effectively depriving citizens of their fundamental right to vote.

Allegations over voter list revision

The Diamond Harbour MP claimed that around 3.5 lakh residents of Cooch Behar district alone have received notices citing logical discrepancies during the SIR process. He urged Trinamool workers to ensure that all affected individuals are re-included in the voter list.

Banerjee also alleged that the EC was focusing on removing names from electoral rolls instead of safeguarding democratic participation. He claimed that anxiety related to the SIR exercise had led to the deaths of around 78 people in the state.

Earlier this month, Banerjee had presented three individuals at another rally in South 24 Parganas district, alleging that they too had been marked as dead voters in the draft rolls.

Attack on BJP over unfulfilled promises

Targeting the BJP-led Centre, Banerjee accused the ruling party of failing to fulfil electoral promises made to the people of Cooch Behar since 2014. He cited commitments related to the formation of the Narayani battalion, a training centre named after warrior Chilarai, international status for the Madan Mohan temple, and the upgradation of Cooch Behar airport.

He also claimed that the 9-seater aircraft service between Cooch Behar and Kolkata, introduced in February 2023, is likely to be discontinued by the end of the month, alleging neglect by the Centre.

Assembly polls and political messaging

Calling on voters to back Trinamool candidates in all nine assembly seats in Cooch Behar district, Banerjee said the upcoming assembly elections would be a contest between the people of Bengal and the BJP. In the 2021 assembly elections, the BJP had won six seats in the district, while Trinamool secured three.

He thanked voters for defeating former Union minister Nisith Pramanik in the 2024 Lok Sabha elections and asserted that the Trinamool Congress would return to power in West Bengal for a fourth consecutive term under Chief Minister Mamata Banerjee.

Banerjee also criticised recent central agency actions in the state and accused the BJP leadership of insulting Bengal’s cultural and political legacy. He further alleged excesses by border forces against farmers working near the India-Bangladesh border and objected to NRC notices allegedly being sent to some residents of Cooch Behar.

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Tej Pratap Yadav meets family, invites Lalu and Tejashwi for Dahi-Chura feast

Tej Pratap Yadav’s visit to his family ahead of Makar Sankranti and his Dahi-Chura invitation has sparked renewed talk of reconciliation within the Lalu family.

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Tej Pratap Yadav

A rare and emotionally charged family moment played out on Tuesday when Rashtriya Janata Dal leader Tej Pratap Yadav visited 10 Circular Road, the residence of former Bihar Chief Minister Rabri Devi, to meet his parents and younger brother Tejashwi Yadav.

The visit marked a notable departure from months of visible distance within the Lalu Prasad Yadav family and was centred around a formal invitation for a Dahi-Chura feast scheduled for January 14 on the occasion of Makar Sankranti.

Tej Pratap personally handed over the invitation letter to Tejashwi Yadav, the Leader of the Opposition in the Bihar Assembly, in a gesture widely interpreted as an attempt at reconciliation and reaffirmation of family unity.

Upon his arrival, Tej Pratap sought blessings by touching the feet of RJD supremo Lalu Prasad Yadav and Rabri Devi, underscoring the personal significance of the meeting.

Rare public warmth between the brothers

The meeting was particularly striking as it was the first time in a long while that Tej Pratap and Tejashwi were seen together with visible warmth in front of the media. For several months, the two brothers had been living separately and maintaining a noticeable distance on public platforms, fuelling speculation of a rift.

A deeply personal moment during the visit drew widespread attention when Tej Pratap lifted Tejashwi’s daughter, Katyayani, in his arms. The images of the interaction quickly circulated on social media, presenting a softer picture of family bonds beyond political equations.

Tej Pratap later described the moment as a memorable experience, reinforcing the impression that familial ties remain intact despite past differences.

Political and symbolic significance

Political observers see the visit as a significant shift after a prolonged phase of strained relations, often described as a “cold war” between the brothers. The timing of the outreach, on the eve of Makar Sankranti, has also blunted opposition narratives of a deep and irreversible divide within the Lalu family.

Attention has now shifted to the Dahi-Chura feast scheduled for Wednesday. Beyond its cultural importance, the event is being viewed as a symbolic display of unity within the family and the party.

The outreach has generated renewed enthusiasm among RJD workers, with many keenly watching how Tejashwi Yadav and other family members participate in the celebration, which could further cement this much-discussed rapprochement.

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Centre asks Blinkit, Zepto and Swiggy to stop 10-minute delivery claims

The Centre has urged Blinkit, Zepto and Swiggy to remove 10-minute delivery claims, citing safety concerns for delivery partners, government sources said.

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10 minutes delivery

The Centre has asked quick commerce platforms such as Blinkit, Zepto and Swiggy to remove claims related to 10-minute deliveries, citing concerns over the safety of delivery partners, according to government sources.

The issue was discussed during a meeting between Union Labour Minister Mansukh Mandaviya and representatives of major food and grocery delivery aggregators. Executives from platforms including Zomato, Swiggy, Blinkit and Zepto were present at the meeting, sources said.

Safety of delivery partners discussed in meeting

Government sources indicated that the minister raised concerns about strict delivery timelines and their potential impact on the safety and well-being of delivery partners. Platforms were advised to prioritise safe working conditions instead of promoting ultra-fast delivery promises.

The discussion focused on delivery expectations, rider pressure and the broader responsibility of aggregators towards their workforce, sources added.

Blinkit revises tagline after government intervention

Following the meeting, Blinkit has revised its marketing tagline. The platform earlier promoted “10,000 plus products delivered in 10 minutes” but has now changed it to “30,000 plus products delivered at your doorstep,” according to sources.

The revision reflects a shift away from highlighting delivery speed as a key promise, in line with the concerns raised during the discussions.

The government is expected to continue engaging with aggregators on labour welfare and safety-related issues, sources said.

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