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Opposition hits out at Centre over Hindenburg report on Adani Group

US-based Hindenburg Research’s new report which claimed that the SEBI chief Madhabi Buch herself was involved in the case as she had stakes in the company.

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The Opposition parties on Sunday hit out at Prime Minister Narendra Modi-led Central government over US-based Hindenburg Research’s new report which claimed that the SEBI chief Madhabi Buch herself was involved in the case as she had stakes in the company.

In a post on X, Congress general secretary Jairam Ramesh said that SEBI’s strange reluctance to investigate the “Adani MegaScam” had been noted for a long time. He also demanded a probe by a Joint Parliamentary Committee.

SEBI’s strange reluctance to investigate the Adani MegaScam has been long noted, not least by the Supreme Court’s Expert Committee, he said. Adding that Committee had pointed out in its report that SEBI had in 2018 diluted and, in 2019, entirely deleted the reporting requirements relating to the ultimate beneficial (i.e. actual) ownership of foreign funds.

In his statement, he added that this had tied its hands to the extent that ‘the securities market regulator suspects wrongdoing, but also finds compliance with various stipulations in attendant regulations. He further said citing experts that it is this dichotomy that has led to SEBI drawing a blank worldwide.

Hindenburg Research’s latest allegation raises fresh questions about Gautam Adani’s two 2022 meetings in quick succession with Buch shortly after she was appointed as SEBI chairperson, the Congress leader said in a statement.

Earlier, in another post, Ramesh used the Latin phrase ‘Quis Custodiet Ipsos Custodes’ (Who will guard the guards themselves) to take a swipe at Madhabi Buch.

Meanwhile, Congress MP Manish Tewari said that a JPC must be constituted to go into the entire Hindenburg saga.

Speaking on the matter, he said that there has been certain revelations by the Hindenburg Research which have been put out in the public space.

The Congress leader said that they require closer scrutiny, underlining that, there seems to be some semblance of an alleged conflict of interest and so therefore under those circumstances there has been a demand in the public space for a while that the entire Hindenburg saga needs to be investigated properly by a joint parliamentary committee is constituted to go into all these issues at length.

The Trinamool Congress MP Mahua Moitra also took a dig over the allegations, saying that in true Adani style, even the SEBI chairman is an investor in his group.“Crony Capitalism at its finest,” she said in a post on X.

Moitra also demanded that the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) investigate alleged money laundering.

The AAP leader and Rajya Sabha MP Sanjay Singh, taking to X,  wrote, “The Hindenburg revelations were hinted at 3 days before Modi ended the Parliament session. Modi Government is steeped in corruption from head to toe. To save his friend Adani, Modi Ji got the investigation done by the same SEBI Chairman who had committed the scam in connivance with Adani. SC should reconsider its decision.”

The Samajwadi Party leader Ghanshyam Tiwari also lashed out at the Central government and said that the tenure of PM Modi will be known for ‘Adani-waad’.

He said the whole world witnessed a different session with different ideologies but the term of PM Modi will be known as ‘Adani-waad’. In this Adani-waad, he said, they captured the whole economic system of India in such a way that Gautam Ad could benefit, it looks like this is the only motive of Prime Minister Modi.

The US short-seller Hindenburg Research released its reports on August 10 alleging market watchdog SEBI chairperson Madhabi Buch and her husband Dhaval Buch were involved in Adani Group’s offshore funds. The report further suggested that these obscure financial systems were allegedly used in the money-siphoning scandal.

However, at the centre of the storm, the SEBI chairperson and her husband issued a joint statement denying all charges. They said that it was an attempt of “character assassination.

According to the Hindenbur report, Madhabi Buch and her husband Dhaval Buch first appear to have opened their account with IPE Plus Fund 1 on June 5th, 2015 in Singapore, per whistleblower documents.

A declaration of funds, signed by a principal at IIFL states that the source of the investment is “salary” and the couple´s net worth is estimated at $10 million. 

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DU VC Prof Yogesh Singh entrusted with additional charge of AICTE Chairman

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Prof. Yogesh Singh, Vice Chancellor of the University of Delhi, has been entrusted with the additional charge of the post of Chairman, AICTE till the appointment of a Chairman of AICTE or until further orders, whichever is earlier.

It is noteworthy that AICTE Chairman Prof. TG Sitharam was relieved of his duties after his term ended on December 20, 2025. According to a letter issued by the Ministry of Education, Government of India, on Monday, Prof. Yogesh Singh’s appointment is until the appointment of a regular AICTE Chairman or until further orders whichever is earlier.

Prof. Yogesh Singh is a renowned academician with excellent administrative capabilities, who has been the Vice-Chancellor of University of Delhi since October 2021. He has also served as the Chairperson of the National Council for Teacher Education. In August 2023, he was also given the additional charge of Director of the School of Planning and Architecture (SPA).

Prof. Yogesh Singh served as the Vice-Chancellor of Delhi Technological University from 2015 to 2021; Director of Netaji Subhas Institute of Technology, Delhi from 2014 to 2017, and before that, he was the Vice-Chancellor of Maharaja Sayajirao University, Baroda (Gujarat) from 2011 to 2014. He holds a Ph.D. in Computer Engineering from the National Institute of Technology, Kurukshetra. He has a distinguished track record in quality teaching, innovation, and research in the field of software engineering.

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Goa nightclub fire case: Court extends police custody of Luthra brothers by five days

A Goa court has extended the police custody of Saurabh and Gaurav Luthra, owners of the nightclub where a deadly fire killed 25 people, by five more days.

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Luthra brothers

A court in Goa on Monday extended the police custody of Saurabh Luthra and Gaurav Luthra, the owners of the Birch by Romeo Lane nightclub, by five more days in connection with the deadly fire incident that claimed 25 lives on December 6.

The order was passed as investigators sought additional time to question the two accused in the case linked to the blaze at the Anjuna-based nightclub.

Owners were deported after fleeing abroad

According to details placed before the court, the Luthra brothers had left the country following the incident and travelled to Thailand. They were subsequently deported and brought back to India on December 17, after which they were taken into police custody.

Advocate Vishnu Joshi, representing the families of the victims, confirmed that the court granted a five-day extension of police custody for both Saurabh and Gaurav Luthra.

Another co-owner sent to judicial custody

The court also remanded Ajay Gupta, another owner of the nightclub, to judicial custody. Police did not seek an extension of his custody, following which the court passed the order, the victims’ counsel said.

The Anjuna police have registered a case against the Luthra brothers for culpable homicide not amounting to murder along with other relevant offences related to the fire incident.

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Delhi High Court issues notice to Sonia Gandhi, Rahul Gandhi in National Herald case

Delhi High Court has sought responses from Sonia Gandhi and Rahul Gandhi on the ED’s plea challenging a trial court order in the National Herald case.

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The Delhi High Court has sought responses from Congress leaders Sonia Gandhi and Rahul Gandhi on a petition filed by the Enforcement Directorate (ED) in connection with the National Herald case. The petition challenges a trial court order that refused to take cognisance of the agency’s prosecution complaint.

Justice Ravinder Dudeja issued notices to the Gandhis and other accused on the main petition, as well as on the ED’s application seeking a stay on the trial court’s December 16 order. The high court has listed the matter for further hearing on March 12, 2026.

The trial court had ruled that taking cognisance of the ED’s complaint was “impermissible in law” because the investigation was not based on a registered First Information Report (FIR). It observed that the prosecution complaint under the Prevention of Money Laundering Act (PMLA) was not maintainable in the absence of an FIR for a scheduled offence.

According to the order, the ED’s probe originated from a private complaint rather than an FIR. The court further noted that since cognisance was declined on a legal question, it was not necessary to examine the merits of the allegations at that stage.

The trial court also referred to the complaint filed by BJP leader Subramanian Swamy and the summoning order issued in 2014, stating that despite these developments, the Central Bureau of Investigation (CBI) did not register an FIR in relation to the alleged scheduled offence.

The ED has accused Sonia Gandhi, Rahul Gandhi, late Congress leaders Motilal Vora and Oscar Fernandes, Suman Dubey, Sam Pitroda, and a private company, Young Indian, of conspiracy and money laundering. The agency has alleged that properties worth around Rs 2,000 crore belonging to Associated Journals Limited (AJL), which publishes the National Herald newspaper, were acquired through Young Indian.

The agency further claimed that Sonia and Rahul Gandhi held a majority 76 per cent shareholding in Young Indian, which allegedly took over AJL’s assets in exchange for a Rs 90 crore loan.

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