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Hindenburg Row: TMC MP Mahua Moitra alleges Adani’s involvement in SEBI committee

Where till some time ago Adani was at number 3 in the list of the world’s richest, now he is not even in the top 20.

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TMC MP Mahua Moitra and Gautam Adani

After America’s Hindenburg Research Agency accused well-known industrialist Gautam Adani of stock manipulation and accounting irregularities, politics has also intensified on this matter. And now Trinamool Congress (TMC) leader Mahua Moitra has made serious allegations against the Adani family.

She said that there is a nexus between the Adani family and SEBI officials, so everything was done arbitrarily. She further added that Adani’s relatives also work in SEBI’s committee, due to which such rigging was carried out.

Adani’s associates also included in SEBI committee, says Mahua

Mahua Moitra said that famous lawyer Cyril Shroff, a friend of Adani, works in SEBI’s committee. She further added that Cyril Shroff’s daughter is married to industrialist Gautam Adani’s son. TMC MP Mahua tweeted that biggest respect for veteran lawyer Cyril Shroff but his daughter is married to Gautam Adani’s son. Shroff serves on SEBI’s Committee on Corporate Governance and Insider Trading. If SEBI India is probing the Adani case, Shroff should recuse himself from it and sometimes perceptions are reality.

Read Also: Adani-Hindenburg row: PIL in Supreme Court seeks action against US short-seller for defrauding investors

Also after Dow Jones Sustainability Indices announced delisting of Adani Enterprises shares with effect from 7 February 2023, the TMC MP questioned that why the NSE is not re-evaluating the index membership of Adani shares?

She wrote on Twitter that S&P Dow Jones removed Adani Enterprises from the Dow Jones Indices due to allegations of stock manipulation and accounting fraud. Why is NSE India not re-evaluating the index membership of Adani stocks while international ones are?

Hindenburg Row

For the unversed, on January 25, Hindenburg released a 32,000-word report regarding the Adani Group. The findings of the report included 88 questions. It claimed that the group has been involved in stock manipulation and account fraud for decades. It further stated that Adani Group founder Gautam Adani’s wealth has increased by $1 billion to $120 billion in three years due to rising share prices. During this period, the shares of 7 companies of the group have increased by an average of 819 percent.

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Chaos mars Lionel Messi’s Kolkata GOAT Tour event as fans protest poor arrangements

Lionel Messi’s brief appearance in Kolkata was overshadowed by chaos as fans alleged mismanagement, prompting an apology and an official enquiry by the state government.

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Messy event Chaos kolkata

Lionel Messi’s much-anticipated appearance in Kolkata turned chaotic on Saturday after thousands of fans alleged mismanagement at the Yuva Bharati Krirangan, leaving many unable to even see the Argentine football icon despite holding high-priced tickets

Fans express anger over limited access

The Kolkata leg of the G.O.A.T. Tour was billed as a special moment for Indian football fans, with ticket prices ranging between Rs 5,000 and Rs 25,000. However, discontent grew rapidly inside the stadium as several attendees claimed their view of Messi was obstructed by security personnel and invited guests positioned close to him.

As frustration mounted, some fans resorted to throwing chairs and bottles from the stands, forcing organisers to intervene and cut the programme short.

Event cut short amid disorder

Messi reached the venue around 11:15 am and remained there for roughly 20 minutes. He was expected to take a full lap of the stadium, but that plan was abandoned as the situation deteriorated soon after he emerged from the tunnel.

The disorder also meant that prominent personalities, including actor Shah Rukh Khan, former India cricket captain Sourav Ganguly and West Bengal Chief Minister Mamata Banerjee, could not participate in the programme as scheduled.

Organisers whisk Messi away

With fans breaching security and some vandalising canopies set up at the Salt Lake Stadium, the organisers, along with security personnel, escorted Messi out of the venue to prevent further escalation.

Several attendees described the event as poorly organised, with some fans calling it an “absolute disgrace” and blaming mismanagement for spoiling what was meant to be a celebratory occasion.

Mamata Banerjee apologises, orders enquiry

Chief Minister Mamata Banerjee later issued a public apology to Messi and the fans, expressing shock over the mismanagement. She announced the formation of an enquiry committee headed by retired Justice Ashim Kumar Ray, with senior state officials as members.

The committee has been tasked with conducting a detailed probe, fixing responsibility and suggesting steps to ensure such incidents are not repeated in the future.

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Delhi enforces new law to regulate fees in private schools

Delhi has notified a new law to regulate private school fees, capping charges, banning capitation fees and mandating transparent, committee-approved fee structures.

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Delhi School fees

The Delhi government has officially brought into force a new law aimed at regulating fees in private schools, notifying the Delhi School Education (Transparency in Fixation and Regulation of Fee) Act, 2025. The notification was issued on Wednesday, nearly four months after the Bill was cleared by the Delhi Assembly and received approval from Lieutenant Governor V K Saxena.

The Act establishes a comprehensive framework to govern how private unaided schools fix and collect fees, with a clear emphasis on transparency, accountability and relief for parents facing repeated fee hikes.

What the new Act provides for

Under the legislation, private unaided recognised schools can charge fees only under clearly defined heads such as registration, admission, tuition, annual charges and development fees. The law caps registration fees at Rs 25, admission charges at Rs 200 and caution money at Rs 500, which must be refunded with interest. Development fees have been restricted to a maximum of 10 per cent of the annual tuition fee.

Schools have also been directed to disclose all fee components in detail and maintain separate accounts for each category. Any fee not specifically permitted under the Act will be treated as an unjustified demand.

The law strictly prohibits the collection of capitation fees, whether direct or indirect. It further mandates that user-based service charges must be collected strictly on a no-profit, no-loss basis and only from students who actually use the service.

Accounting norms and restrictions on surplus funds

To ensure financial transparency, schools are required to follow prescribed accounting standards, maintain fixed asset registers and make proper provisions for employee benefits. The transfer of funds collected from students to any other legal entity, including a school’s managing society or trust, has been barred.

Any surplus generated must either be refunded to parents or adjusted against future fees, according to the notification.

Protection for students and parents

The Act also places restrictions on punitive action by schools in fee-related matters. Schools are prohibited from withholding results, striking off names or denying entry to classrooms due to unpaid or delayed fees.

The law applies uniformly to all private unaided schools in Delhi, including minority institutions and schools not built on government-allotted land.

School-level committees to approve fees

A key feature of the legislation is the mandatory formation of a School-Level Fee Regulation Committee by July 15 each year. The committee will include five parents selected through a draw of lots from the parent-teacher association, with compulsory representation of women and members from Scheduled Castes, Scheduled Tribes and socially and educationally backward classes.

A representative from the Directorate of Education will also be part of the panel, while the chairperson will be from the school management.

Schools must submit their proposed fee structure to the committee by July 31. The committee can approve or reduce the proposed fees but cannot increase them. Once finalised, the fee structure will remain fixed for three academic years.

The approved fees must be displayed prominently on the school notice board in Hindi, English and the medium of instruction, and uploaded on the school website wherever applicable.

The Delhi government had earlier described the legislation as a significant step towards curbing arbitrary fee hikes after widespread complaints from parents at the start of the academic session.

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Delhi air quality nears severe as smog blankets city, airport issues advisory

Delhi recorded very poor to severe air quality on Saturday, with dense smog affecting visibility and prompting an advisory from the city airport.

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Delhi pollution

Residents across Delhi and adjoining areas woke up to dense smog on Saturday morning, with air quality levels edging close to the ‘severe’ category in several locations

Data from the Central Pollution Control Board showed the overall Air Quality Index (AQI) at 390 at 8 am, placing it in the ‘very poor’ category. However, multiple monitoring stations in the national capital recorded AQI readings in the ‘severe’ range.

Areas reporting severe air quality included Anand Vihar (435), Ghazipur (435), Jahangirpuri (442), Rohini (436), Chandni Chowk (419), Burari Crossing (415), and RK Puram (404). The high pollution levels were accompanied by a mix of smog and shallow fog, which reduced visibility in several parts of the city during the early hours.

Smog reduces visibility, health risks rise

As per AQI classification, readings between 401 and 500 fall under the ‘severe’ category, indicating serious health risks. Officials note that prolonged exposure at such levels can trigger respiratory problems even among healthy individuals, while those with existing conditions face higher risks.

Dangerous pollution levels have become a recurring concern in Delhi during the winter months. On Friday as well, a thick haze covered the city, with the overall AQI recorded at 386 and visibility remaining poor in several localities.

Delhi airport activates low visibility procedures

Amid the deteriorating air quality, Delhi airport issued an advisory stating that low visibility procedures were in place. In a post on X, the airport confirmed that flight operations were normal at present but advised passengers to stay in touch with their respective airlines for the latest updates.

Despite some marginal improvement over recent weeks, large parts of the capital continue to remain under a blanket of toxic smog. The worsening situation has also intensified political sparring over pollution control measures in the city.

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