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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.

Read Also: UK journalist’s reaction visiting Tamil Nadu for first time goes viral | WATCH

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

2024 Lok Sabha Elections

Lok Sabha elections 2024: 102-year-old man walks to polling booth to cast his vote in Jammu

The lowest voter turnout so far was noted in Ramgarh at 1.53%.

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A 102-year-old man showed up at a Jammu polling place to cast his vote in the second phase of the Lok Sabha elections on Friday. Haji Karam Din arrived at the Reasi district polling place in the Jammu constituency with a walking stick in hand and a family member who assisted him with the pre-voting process.

Haji Karam Din, who is 102-year-old, showed his inked finger and posed for pictures outside the polling booth after casting his vote. He said voting at this polling place at this age makes him very happy. He has always cast his vote. Even at the age of 102, this experience is still ongoing, he said.

Reasi district is a part of the Jammu parliamentary constituency, and 22 candidates are up for vote with around 17.81 lakh eligible voters.

BJP’s sitting member Jugal Kishore Sharma is aiming for a third term in office following wins in the elections of 2014 and 2019. Former minister and Congress candidate Raman Bhalla is his main opponent.

Voting in the Jammu-Reasi Lok Sabha constituency began with eager voters showing up at the polling places. Some of them were wearing traditional Dogra attire.

In 2,416 polling places around the constituency, voting got underway at 7 a.m., and 10.39% of the total votes were cast by 9 a.m. In the 2019 Lok Sabha elections, Jammu recorded a 74% voter turnout.

Following the repeal of Article 370 and the division of the former state into two Union Territories five years ago, this is Jammu’s first significant election.

The Akhnoor segment received the highest percentage of votes, 14.24%, followed by Reasi (14.13%), Gulabgarh (13.53%), Shri Mata Vaishnodevi (12.71%), Marh (12.31%), Samba (8.56%), R S Pura Jammu South (8.17%), and Suchetgarh (5.67%), according to the officials. Ramgarh recorded the lowest voter participation of 1.53% so far.

Low attendance was observed in the border areas of the districts of Jammu and Samba till nine in the morning, according to poll data.

The officials said that big lines of voters were observed at several polling places throughout Jammu city. Voters were observed heading towards polling places early in the morning.

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Salman Khan house firing case: NIA interrogates arrested shooters Sagar Pal, Vicky Gupta for three hours

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The investigation into the shocking firing incident that took place outside Salman Khan’s house on April 14 keeps bringing new updates with every passing day. In this case, Sagar Pal and Vicky Gupta, the two suspected shooters, have already been taken into custody.

The two shooters have reportedly been questioned by the National Investigation Agency (NIA), according to a new development. Every day that goes by, more information is revealed about the inquiry into the shocking firing incident that happened outside Salman Khan’s house on April 14. Sagar Pal and Vicky Gupta, the two accused shooters, are being held in custody after their first arrests.

It was recently discovered that the two shooters were questioned by the National Investigation Agency (NIA).

NIA has reportedly begun questioning Sagar Pal and Vicky Gupta, who were detained a few days ago for firing openly outside Salman Khan’s Galaxy Apartments in Mumbai, according to a recent update posted on their X (Twitter) account. NIA has interrogated shooters Vicky Gupta and Sagar Pal, arrested in the firing case, the tweet said.

According to the reports, two Punjabi residents were taken into custody by the Mumbai Crime Branch yesterday on suspicion of being involved in the recent shooting incident outside the house of Bollywood actor Salman Khan.

The two men, Sonu Subhash Chander and Anuj Thapan, provided guns to Sagar Pal and Vicky Gupta, the shooters, according to information released by the Mumbai Crime Branch. It was also reported that they had communication with the Bishnoi gang. For those who don’t know, hours after the incident, Anmol Bishnoi, the brother of gangster Lawrence Bishnoi, allegedly took credit for the firing in a Facebook post.

The shooters’ custody has been extended by Mumbai’s Esplanade Court until April 29.

Meanwhile, on the workfront Salman Khan was last seen in Tiger 3 alongside Katrina Kaif.

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2024 Lok Sabha Elections

PM Modi calls for high voter turnout in second phase of Lok Sabha elections 2024, says your vote is your voice

Prime Minister Narendra Modi urges citizens to participate in record numbers during the second phase of polling for the Lok Sabha Elections 2024.

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Prime Minister Narendra Modi took to social media as the second phase of voting for the Lok Sabha Elections of 2024 got underway across the country to encourage voters to cast votes in huge numbers. PM Modi emphasized in his speech the value of voting in preserving democracy and notably urged women and young people to cast votes.

Taking to social media X, formerly Twitter, PM Modi wrote, urging everyone in constituencies to participate in record numbers in today’s second phase of the Lok Sabha elections. He said our democracy is strengthened by high voter turnout. He especially urged female and youth voters to cast votes in large numbers. Your vote is your voice, he added.

It is important to remember that 88 Lok Sabha constituencies—spread among 13 states and Union Territories—are presently holding polls. Twenty seats in Kerala, fourteen in Karnataka, thirteen in Rajasthan, eight in Uttar Pradesh and Maharashtra, six in Madhya Pradesh, five in Assam and Bihar, three in Chhattisgarh and West Bengal, and one in each of Tripura, Jammu & Kashmir, and Manipur are currently up for election. Notably, the untimely death of a Bahujan Samaj Party (BSP) candidate has resulted in the Madhya Pradesh constituency of Betul being spared from voting on April 26.

Meanwhile, Chief Election Commissioner Rajiv Kumar emphasized the thorough planning that has taken place over the previous two years and reassured the public of careful security measures at every voting place. They have been preparing for the last two years, he said. At each booth, the arrangements are ready. Everything has been prepared for the voters, including fans and drinking water. Voters must turn out to cast their votes. Safety has been considered. There is zero information available anywhere regarding violence. However, there will be forces at every booth.

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