India News
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.

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
India News
IMD predicts cyclone Biparjoy to strengthen in next 36 Hours
The weather department had also advised fishermen not to venture into the cyclone hit areas in the Arabian Sea.

The India Meteorological Department (IMD) on Friday, warned Cyclone Biparjoy is likely to strengthen in the next 36 hours.
The weather department noted, the cyclone will be heading north-northwestward in the next two days.
Earlier on Friday, the IMD said, the cyclone was over the east-central Arabian Sea and was situated 840 kilometers west-southwest of Goa and 870 km west-southwest of Mumbai at 11:30 pm on June 8.
The weather department had also advised fishermen not to venture into the cyclone hit areas in the Arabian Sea.
In addition, the IMD predicted that the weather conditions are favourable for further advancement of the Southwest monsoon into some parts of the central Arabian Sea, remaining parts of Kerala, few parts of Tamil Nadu and Karnataka.
The Southwest monsoon might also advance into some more parts of the southwest, Central and northwest Bay of Bengal, and some parts of northeastern states during the next 24 hours, as per the weather department.
The weather department further predicted, light to moderate rain at isolated places in South Gujarat region like Navsari, Valsad, Daman and Dadara Nagar Haveli. Dry weather is anticipated in all the districts of Saurashtra-Kutch and Diu.
In South India, light rainfall with thunderstorm is likely over Kerala, Lakshadweep, Coastal & South Interior Karnataka.
Isolated and scattered rainfall is expected over North Interior Karnataka, Tamil Nadu and Andhra Pradesh in the next 5 days.
Further, heavy rainfall is predicted over Andaman & Nicobar Islands on June 9 and 10, Kerala from June 9 to 13, Lakshadweep from June 9 to 11 and Coastal and South Interior Karnataka during June 10-13.
In Northeast India, scattered to fairly widespread rainfall with thunderstorms is expected over the northeast region in the next 5 days.
Meanwhile, Manipur, Mizoram and Tripura is likely to witness very heavy rainfall on June 9. Assam and Meghalaya will also witness heavy rainfall on June 12 and 13. In the Northwest India, the weather department forecasts an increase in maximum temperature by about 2 degree Celsius over the plains during the next two days.
India News
Haryana: 4 independent MLAs meet BJP’s Biplab Deb as rift arises within the ruling BJP-JJP alliance
Deb said, Haryana MLAs Dharam Pal Gonder, Rakesh Daulatabad, Randhir Singh and Somveer Sangwan met him on Thursday and expressed confidence in PM Modi’s leadership.

Amid the reports of the strife between ruling BJP-Jannayak Janata Party(JJP) alliance in Haryana, 4 independent MLAs meet BJP state in-charge Biplab Kumar Deb expressing confidence in Prime Minister Narendra Modi’s leadership.
Deb said, Haryana MLAs Dharam Pal Gonder, Rakesh Daulatabad, Randhir Singh and Somveer Sangwan met him on Thursday and expressed confidence in PM Modi’s leadership.
Deb said, the party believes in PM Modi’s slogan Sabka Saath and Sabka Vikas and is leaving no stone unturned for the growth and development of Haryana. The BJP had taken the support of JJP to form the government in Haryana in 2019, since it failed to get a majority in the state election.
JJP leader Dushyant Chautala has been holding the Deputy Chief Minister’s post since 2019, after the government formation with Manohar Lal Khattar as the Chief Minister. There has been tension arising between the two parties as leaders of the two parties had a war of words with each other. Deb even said the JJP did no favor to the BJP by supporting it, as JJP is also part of the government in Haryana.
There have been reports of recent disagreement between the two parties on contesting the upcoming elections in 2024 together. Chautala when asked whether the two parties will contest together in 2024, he diplomatically replied, he is not an astrologer and cannot predict what the future has in store for the parties. He told the media that both parties will contest for 90 seats on their own in the 2024 elections.
The news on Twitter started spreading like wildfire as diverse comments on the tweet started appearing, where one user said BJP should take support of these four candidates as the alliance government has done a lot of corruption in the state.
Another user hailed the BJP alliance government and said, Har Har Modi Ghar Ghar Modi. Another user said that this is all hypocrisy of the BJP in Haryana.
India News
Open AI CEO Sam Altman meets PM Modi to discuss AI opportunities in India
OpenAI is the firm behind ChatGPT, an artificial chatbot.

On Thursday, Open AI Chief Executive Officer (CEO) Sam Altman met Prime Minister Narendra Modi in New Delhi.
Altman in his meeting with PM Modi discussed the need for global regulation related to artificial intelligence.
OpenAI is the firm behind ChatGPT, an artificial chatbot.
Altman’s meeting with PM Narendra Modi holds significance as India is in the process of regulating AI through the upcoming Digital India Bill, which is likely to replace the Information Technology (IT) Act. As per reports, during the meeting PM Modi and Altman discussed the potential and opportunities of artificial intelligence in India together with the need for regulations to address the loopholes of this emerging technology.
Addressing the Digital India Dialogues event at IIT Delhi, Altman expressed his satisfaction with the meeting and added that the Prime Minister provided great answers on why India has embraced ChatGPT. In addition, he further elaborated that they talked about India’s prospects, the necessary steps for the country along with the importance of global regulations to avert negative consequences.
Furthermore, speaking about his company Altman said, they have spent almost 8 months on GPT for making sure that it was safe enough to release.
He mentioned that they build the technology and have worked with organisations to figure out what the limits should be and tested them all.
He also acknowledged that they think, coordination and self-regulation is important. However, the world should not be left entirely in the hands of the companies.
In addition, narrating about his plan for India, Altman mentioned, the first thing he will do in India is to fund startups. Considering, India’s strong IT industry along with large set of data, AI-based utilities can leverage huge potential in the country.
Although, AI is still in its early stages. He expressed that they were always amazed and quite grateful for the quality of Indian startups. Following the meeting, PM Modi thanked Altman for the insightful conversation. He tweeted that the potential of AI in enhancing India’s tech ecosystem is indeed vast and that too among the youth in particular. He also welcomed collaborations that can accelerate digital
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