English हिन्दी
Connect with us

India News

Hindenburg report: Congress slams PM Modi-led BJP Govt for defending Adani, SEBI, says Blackstone, Agora played important role

She further highlighted that despite the Supreme Court’s repeated requests for investment information, SEBI showed reluctance to provide the necessary details.

Published

on

The Congress on Sunday slammed Prime Minister Narendra Modi-led BJP government for defending Adani Group and SEBI after US-based short-seller Hindenburg Reserch’s latest report. Apart from this, the two companies Blackstone and Agora played an important role in the AdaniMega scam, the grand old party said.

Addressing a press conference, Congress spokesperson Supriya Shrinate questioned why the Adani mega scam was not being investigated. Shrinate raised concerns that the person responsible for the investigation might be involved in the scam. She further highlighted that despite the Supreme Court’s repeated requests for investment information, SEBI showed reluctance to provide the necessary details.

The report points out significant conflicts of interest involving Boch’s offshore investments, her consulting firm Agora, and Blackstone, Shrinate highlighted. These conflicts are so glaring that they cannot be ignored. The central question now is whether Madhabi Buch will continue as SEBI Chief, she said. The report undermines the credibility of the regulator and severely damages the integrity of India’s Prime Minister, she added.

Citing a report, the Congress leader said, “From April 2017 to March 2022, when Madhabi was an all-time member and chairperson at SEBI, she held a 100% stake in an offshore Singaporean consulting firm called Agora Partners.”

In March 2022, upon becoming SEBI Chairperson, she transferred her shares to her husband Dhaval Buch, the Congress leader claimed. “Agora Partners company was registered in Singapore in the year 2013. SEBI Chairperson Madhabi Buch currently holds a 99% stake in the company. Madhabi’s husband Dhawal Buch is its director. In 2022, Agora had earned a revenue of $2,61,000, which is about 4.5 times the salary of SEBI chief Buch”, she added.

The latest report spotlight falls on Blackstone, SEBI’s push for Real Estate Investment Trusts (REITs), and the public endorsement of REITs by Madhabi, she said. An accusation from Hindenburg suggests that during Madhabi’s tenure as SEBI chief, her husband became a senior advisor at Blackstone, she added.

Blackstone, a substantial player in India’s REIT sector, stands at the center of concerns raised by Hindenburg regarding regulatory changes benefiting REITs – particularly Blackstone, given Madhabi’s husband’s role at the company, Shrinate said.

Furthermore, she said that the discussion on these allegations comes alongside Blackstone’s significant sale of 33 crore units in Nexus Select Trust for Rs 4,550 crore, sparking questions about the timing and implications of the transaction.

The Congress spokesperson narrated a story to take a jibe at the BJP government. She said the situation has drawn parallels to a village robbery, where suspicions arose regarding the village head’s involvement with the robbers. Similarly, the Adani mega scam has garnered attention, with allegations of offshore funding and stock manipulation, she slammed.

Notably, Hindenburg’s recent report emphasises Madhabi and Dhaval’s investments in Bermuda/Mauritius funds associated with the Adani Group, prompting concerns about conflicts of interest and accountability within SEBI and the broader financial landscape.

Amid these revelations, probing questions have arisen regarding the credibility of SEBI Chief Buch, as well as the involvement of the PM Modi-led Central government. The allegations have also led to inquiries into Madhabi’s financial engagements during her SEBI tenure, including her investments and potential conflicts of interest, she alleged.

The allegations are raising widespread concerns about the transparency and integrity of SEBI’s operations and have prompted calls for immediate action, she said. Notably, the lines of questioning have been directed at Madhabi Buch, seeking clarification on her past financial involvements, disclosures, and interactions with companies associated with Adani and Blackstone, she added. These developments underscore the need for thorough investigations and potential repercussions for those implicated, the Congress said.

   

Entertainment

Bharti Singh, Haarsh Limbachiyaa welcome second child after she’s rushed to hospital mid-shoot

Comedian Bharti Singh and her husband Haarsh Limbachiyaa welcomed their second child after she was rushed to hospital during a television shoot.

Published

on

Bharti

Popular comedian and television personality Bharti Singh and her husband, writer-host Haarsh Limbachiyaa, have welcomed their second child. The baby was born on Friday after Bharti was taken to the hospital following a sudden medical emergency earlier in the day, according to media reports.

Emergency during television shoot led to hospitalisation

As per available information, Bharti Singh was scheduled to shoot for the television show Laughter Chefs on Friday morning when her water broke unexpectedly. She was immediately rushed to a nearby hospital, where she later delivered her second child. No further details about the baby have been shared publicly so far.

The news of the delivery comes weeks after the couple announced Bharti’s second pregnancy on social media.

Pregnancy announcement and maternity shoot

Bharti Singh and Haarsh Limbachiyaa had revealed the pregnancy during a family vacation in Switzerland. A few weeks ago, Bharti also shared pictures from her maternity photoshoot, where she was seen wearing a blue silk gown with white floral patterns.

Sharing the photos online, Bharti wrote, “2nd Baby Limbachiya coming soon,” along with a baby emoji.

Family background

Bharti Singh and Haarsh Limbachiyaa became parents for the first time in 2022, when they welcomed their son, Lakshya.

The couple is among the most well-known faces on Indian television. Bharti is widely recognised for her comic timing and distinctive on-screen persona, while Haarsh has made his mark as a writer and host. Apart from their television work, the two also co-host a podcast together.

Continue Reading

India News

Renaming MGNREGA removes core spirit of rural employment law, says Shashi Tharoor

Published

on

Shashi Tharoor

Congress MP Shashi Tharoor has strongly criticised the renaming of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), saying the move strips the rural employment programme of its core essence. His remarks came after Parliament cleared the Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin) Bill, also referred to as the VB-G RAM G Bill.

Speaking to media, Tharoor said the decision to remove Mahatma Gandhi’s name from the scheme “takes out the heart” of the rural employment programme that has been in place for years. He noted that the identity and philosophy associated with Mahatma Gandhi were central to the original law.

Tharoor also objected to the way the new name was framed, arguing that it unnecessarily combined multiple languages. He pointed out that the Constitution envisages the use of one language in legislation, while the Bill’s title mixes English and Hindi terms such as “Guarantee”, “Rozgar” and “Ajeevika”, along with the conjunction “and”.

‘Disrespect to both names’

The Congress leader said that inserting the word “Ram” while dropping Mahatma Gandhi’s name amounted to disrespecting both. Referring to Mahatma Gandhi’s ideas, Tharoor said that for Gandhi, the concepts of Gram Swaraj and Ram Rajya were inseparable, and removing his name from a rural employment law went against that vision.

He added that the name of Lord Ram could be used in many contexts, but questioned the rationale behind excluding Mahatma Gandhi from a programme closely linked to his philosophy of village self-rule.

Protests over passage of the Bill

The VB-G RAM G Bill was passed by the Lok Sabha on December 18 and cleared by the Rajya Sabha in the early hours of December 19 amid protests from Opposition members. Several MPs opposed the manner in which the legislation was pushed through, with scenes of sloganeering and tearing of papers in the House.

Outside Parliament, members of the Trinamool Congress staged a sit-in protest near Samvidhan Sadan against the passage of the Bill. Congress also announced nationwide protests earlier this week, accusing the government of weakening rights-based welfare schemes.

Despite opposition criticism, the government has maintained that the new law will strengthen rural employment and livelihood security. The Bill raises the guaranteed employment from 100 days to 125 days per rural household and outlines a 60:40 cost-sharing formula between the Centre and states, with a higher central share for northeastern, Himalayan states and certain Union Territories.

Continue Reading

India News

Rahul Gandhi attacks G RAM G bill, says move against villages and states

Rahul Gandhi has criticised the G RAM G bill cleared by Parliament, alleging it dilutes the rights-based structure of MGNREGA and centralises control over rural employment.

Published

on

Rahul Gandhi

Leader of the Opposition Rahul Gandhi has launched a sharp attack on the Modi government after Parliament cleared the Viksit Bharat Guarantee for Employment and Livelihood Mission (Rural) Bill, commonly referred to as the ‘G RAM G’ bill. He described the proposed law as “anti-state” and “anti-village”, arguing that it weakens the core spirit of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).

The new legislation, which is positioned as an updated version of MGNREGA, was passed amid protests by opposition parties and is expected to replace the existing scheme once it receives presidential assent.

‘Bulldozed without scrutiny’, says Rahul Gandhi

Rahul Gandhi criticised the manner in which the bill was cleared, saying it was pushed through Parliament without adequate debate or examination. He pointed out that the opposition’s demand to refer the bill to a standing committee was rejected.

According to him, any law that fundamentally alters the rural employment framework and affects crores of workers should undergo detailed scrutiny, expert consultation and public hearings before approval.

Claim of dilution of rights-based guarantee

Targeting the central government, the Congress leader said the proposed law dismantles the rights-based and demand-driven nature of MGNREGA and replaces it with a rationed system controlled from Delhi. He argued that this shift undermines the autonomy of states and villages.

Rahul Gandhi alleged that the intent behind the move is to centralise power and weaken labour, particularly impacting rural communities such as Dalits, OBCs and Adivasis.

Defence of MGNREGA’s impact

Highlighting the role of MGNREGA, Gandhi said the scheme provided rural workers with bargaining power, reduced distress migration and improved wages and working conditions, while also contributing to rural infrastructure development.

He also recalled the role of MGNREGA during the Covid period, stating that it prevented crores of people from slipping into hunger and debt. According to him, any rationing of a jobs programme first affects women, landless workers and the poorest communities.

Opposition to name change and provisions

The Congress has also objected to the renaming of the scheme, accusing the government of attempting to erase the legacy associated with Mahatma Gandhi. Opposition MPs staged a dharna within the Parliament complex, questioning provisions of the bill that they claim dilute the “soul and spirit” of the original law enacted in 2005.

Under MGNREGA, the government guaranteed 100 days of work in rural areas along with an unemployment allowance if work was not provided. The ‘G RAM G’ bill proposes to raise the guaranteed workdays to 125, while retaining other provisions. However, critics have flagged concerns over employment being linked to pre-approved plans.

The bill was cleared after a midnight voice vote in the Rajya Sabha, following its passage in the Lok Sabha amid protests and walkouts. It will become law once approved by the President.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com