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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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Jammu & Kashmir CM Omar Abdullah condemns grenade attack near Sunday market in Srinagar

According to reports, at least six people were injured when terrorists threw a grenade in a crowded flea market in the heart of the city.

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Jammu and Kashmir Chief Minister Omar Abdullah on November 3 condemned the grenade attack near a busy Sunday market in Srinagar and said there could be no justification for targeting innocent civilians.

According to reports, at least six people were injured when terrorists threw a grenade in a crowded flea market in the heart of the city. The injured have been shifted to Shri Maharaja Hari Singh Hospital (SMHS).

In a post on X, Abdullah said the last few days have been dominated by headlines of attacks and encounters in parts of the valley. “Today’s news of a grenade attack on innocent shoppers at the ‘Sunday market’ in Srinagar is deeply disturbing,” he added.

The security apparatus must do everything possible to end this spurt of attacks at the earliest so that people can go about their lives without any fear, the Jammu and Kashmir Chief Minister said.

The incident took place near the heavily guarded Tourist Reception Centre (TRC), occurring one day following the elimination of a top Pakistani commander of Lashkar-e-Taiba (LeT) by security forces in the Khanyar locality of downtown Srinagar.

Authorities have dispatched police and paramilitary forces to the scene to evacuate the injured and initiate a search operation for the terrorists. The explosion triggered panic in the area, causing shoppers to scramble for cover.

Meanwhile, Congress leader Ravinder Sharma said that this was a conspiracy to disturb the atmosphere in the valley. Such incidents have increased ever since elections have been held and the new government has been formed, he claimed. He prayed for the well-being of those injured in the attack.

Calling for strict actions, the Congress leader said such attacks prove that the militancy is still there in the valley, adding the central government has the entire law and order and security apparatus in its hand.

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Jharkhand elections: Amit Shah says will implement Uniform Civil Code in state

The party aims to create 500,000 job opportunities, including 287,000 government positions, to bolster employment in Jharkhand, the Union Home Minister promised.

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Union Home Minister Amit Shah on Sunday announced that if the BJP is elected to power in Jharkhand, it will implement the Uniform Civil Code (UCC) while excluding tribal communities from its provisions.

Speaking in Ranchi during the release of the party’s manifesto ‘Sankalp Patra’ for the upcoming Assembly elections, Shah emphasised that the Jharkhand Mukti Morcha (JMM) government’s claims that the UCC would threaten tribal rights and culture are unfounded.

“Our government will introduce UCC in Jharkhand but tribals will be kept out of its ambit. The JMM government is making false propaganda that UCC will impact tribal rights and culture, which is totally baseless as they will be kept out of its ambit,” the senior BJP leader said.

Additionally, Shah stated that the BJP, if successful in the elections, would address the Sarna religious code issue and establish a Displacement Commission to aid those affected by industrial and mining activities in the state.

“BJP, if voted to power in Jharkhand, will deliberate on the Sarna religious code issue, and take appropriate decisions. A Displacement Commission will be formed to ensure the rehabilitation of people displaced by industries and mines in Jharkhand,” She said.

The party aims to create 500,000 job opportunities, including 287,000 government positions, to bolster employment in Jharkhand, the Union Home Minister promised.

Shah also assured that the BJP would conduct investigations by the CBI and SIT into ongoing “paper leak” scandals and ensure that those responsible are held accountable.

Moreover, he highlighted plans to enact laws to reclaim land from illegal immigrants and to identify and deport these individuals, asserting that the rights of land, women, and food for local residents are at risk due to illegal immigration.

He accused the JMM-led government of facilitating illegal immigration, claiming it had resulted in a decline in the tribal population and significant demographic changes in the state. Shah expressed concerns over Hindu communities feeling under siege and criticised the state government for widespread corruption.

Shah arrived in Ranchi on Saturday night and was set to hold rallies in Ghatshila, Barkatha, and Simaria the following day. The state Assembly elections, which will elect members to the 81-seat assembly, are scheduled to occur in two phases on November 13 and 20, with the results to be counted on November 23.

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Death threat to Yogi Adityanath: 24-year-old woman arrested for threatening Uttar Pradesh CM

“The woman is well qualified but is mentally unstable,” the police said.

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The Mumbai police have arrested a 24-year-old woman, Fatima Khan, on Sunday for allegedly sending a death threat to Uttar Pradesh Chief Minister Yogi Adityanath.

Khan, who has a Bachelor’s degree in Information Technology, lives with her family in the Ulhasnagar area of the Thane district in Maharashtra; her father works in the timber business.

According to police, while she is well-educated, she is reportedly mentally unstable. “The woman is well qualified but is mentally unstable,” the police said.

The threat was communicated through a message received on the Mumbai traffic police’s WhatsApp number, warning that if Adityanath did not resign from his position within 10 days, he would face a fate similar to that of NCP leader Baba Siddique.

Following the investigation, police traced the message back to Khan.

The Mumbai Anti-Terrorism Squad (ATS), in collaboration with Ulhasnagar police, successfully located and detained her.

Authorities are continuing their investigation into the incident. With Adityanath expected to visit Maharashtra to campaign ahead of the November 20 state Assembly elections, police have increased security measures.

Notably, former Maharashtra Minister Baba Siddique was shot dead in Bandra, Mumbai, on October 12.

A few days earlier, a 20-year-old suspected caller was arrested today in Noida for threatening Baba Siddique’s son, Zeeshan Siddique and Bollywood actor Salman Khan.

According to reports, the suspected caller, identified as Mohammad Tayyab alias Gurfan, also demanded ransom from Zeeshan Siddique and Salman Khan. The 20-year-old was arrested in Noida’s Sector 39 area and the Mumbai Police brought him to the city on a transit remand.

In another threat, Mumbai Police had arrested Shaikh Hussain Shaikh Mausin, a 24-year-old vegetable seller from Jamshedpur, over a threat message received by Mumbai traffic police’s WhatsApp helpline.

Reportedly, a threat message demanding Rs 5 crore from Salman Khan was received on the Mumbai Traffic Police’s WhatsApp helpline, prompting the police to file a case and launch an investigation. 

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