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Here’s what Supreme Court told SEBI during Adani-Hindenburg report hearing

SC said SEBI cannot take as long time as it want and granted it a period of 3 months to complete the probe.

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Gautam Adani

The Supreme Court said it can grant the Securities and Exchange Board of India (SEBI) an extension of three months to finish the investigation into allegations made by American short-seller Hindenburg in their report of alleged manipulation in Adani Group stocks. 

The apex court said it cannot grant 6 months which SEBI had asked for and said the regulatory body should be pro-active in its investigation.

The Court asked SEBI to prepare a team and granted time till mid-August to submit the final report. The Supreme Court said SEBI cannot take as long a time as it wants and said it can grant a 3-month period to complete the probe.

The Court reserved its order for May 15, Monday. The Bench that heard the matter was led by Chief Justice of India DY Chandrachud and comprised Justice PS Narasimha and Justice JB Pardiwala.

On March 2, the Supreme Court had ordered an investigation into violations, if any, of the securities law by the Adani Group after a bloodbath at the stock market following the Hindenburg report. The Adani Group suffered a loss of more than USD140 billion after the claims.

Read Also: Delhi government moves Supreme Court over transfer of services dept chief

The apex court had ordered the investigation to SEBI, which regulates the capital market in the country, and had also constituted a six-member probe committee headed by retired SC judge Justice AM Sapre.

During the hearing, the CJI-led bench said the Justice Sapre committee had submitted its probe. SEBI had filed an application last month seeking extension in the time provided to it to probe the matter by six months.

In the application, SEBI mentioned that 12 transactions that were mentioned in the Hindenburg report requires rigorous investigations, which in the normal course need 15 months to complete, but looking at the situation, they would require at least 6 months to complete the probe.

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INDIA bloc releases manifesto for Bihar polls; promises govt jobs, free power, OPS restoration

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india bloc

The INDIA bloc on Tuesday released its manifesto for the Bihar assembly polls, promising, among other things, a government job to one member of every household, restoration of old pension scheme and 200 units of free power.

The 32-page-long ‘Bihar ka Tejashwi Pran’ (Tejashwi’s resolve) was released at a crowded press conference where the 35-year-old RJD leader was joined by alliance partners.

The INDIA bloc manifesto for the Bihar polls has 25 major points assuring practical solutions, Yadav said at the manifesto release.

“A new law guaranteeing employment would be introduced within 20 days of the INDIA bloc forming the government in Bihar,” he said.

An employment guarantee scheme will be implemented across Bihar within 20 months of the INDIA bloc government formation, he added.

All contractual workers in the Bihar government departments will be made permanent. Also, all ‘Jeevika Didis’ will be made permanent and given a monthly salary of Rs 30,000, the manifesto said.

The manifesto also promised IT parks, SEZs, dairy and agro-based industries, an education city and five new expressways in the state.

“People of Bihar want a crime-free and scam-free regime… they will teach a lesson to NDA in the polls,” Yadav said.

People want a government that would provide ‘padhai’ (better education), ‘dawai’ (better health facilities), ‘kamai’ (employment) and ‘sichai’ (better irrigation facilities), he said.

“The NDA has no vision for Bihar… they have not released the manifesto for the polls so far… BJP leaders and corrupt officials have made Chief Minister Nitish Kumar a puppet… The BJP is using Nitish Kumar to further its interest… Union Home Minister Amit Shah has already made it clear that Nitish will not be the CM face,” he alleged.

“The Bihar Prohibition and Excise Act has completely failed. If the INDIA bloc is voted to power, we will remove the ban on toddy (tari),” Yadav said.

“The INDIA bloc manifesto is the roadmap for the development of Bihar. It is a resolution to make the state number one,” he added.

A banner was put at the manifesto release venue featuring the photographs of all prominent INDIA bloc leaders.

A press conference of the INDIA bloc leaders held in Patna on October 23 triggered a controversy as the banner featured only the photograph of Tejashwi Yadav and no other leader of the alliance.

All prominent leaders of the INDIA bloc were present at the release of the manifesto. While senior Congress leader Pawan Khera represented his party, CPI(ML) Liberation general secretary Dipankar Bhattacharya, VIP party chief Mukesh Sahni and other INDIA bloc leaders were also present.

Leader of Opposition in Lok Sabha, Rahul Gandhi, will join the INDIA bloc campaign for the Bihar polls on Wednesday, said Khera and Yadav.

—PTI

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Modi pitches India as ‘steady lighthouse’ amid global tensions, trade disruptions

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Prime Minister Narendra Modi on Wednesday pitched India as a “steady lighthouse” for the world amid global tensions, trade disruptions and shifting supply chains.

“India stands as a symbol of strategic autonomy, peace and inclusive growth,” Modi said, addressing the Maritime Leaders Conclave at the India Maritime Week 2025 event in Mumbai.

India’s vibrant democracy and reliability are something which makes India special, Modi said.

“When the global seas are rough, the world looks for a steady lighthouse. India can play the role of such a lighthouse with a lot of strength,” he said.

“Amid global tensions, trade disruptions and shifting supply chains, India is symbol of strategic autonomy, peace and inclusive growth,” Modi said.

He said the country’s maritime and trade initiatives are a part of a broader vision and cited the India-Middle East-Europe Economic Corridor as an example of redefining trade routes in the future.

India’s maritime sector is advancing with great speed and energy, Modi said, adding that the country’s ports are now counted among the most efficient in the developing world.

“We have replaced over a century-old colonial shipping laws with modern and futuristic laws suited for the 21st century,” Modi said.

“Today, India’s ports are counted among the most efficient in the developing world. In many aspects, they are performing even better than those in the developed world,” Modi said.

The new shipping laws strengthen the role of state maritime boards and promote integration of digital technologies into port management, he said.

Under the Maritime India Vision, over 150 initiatives have been launched, resulting in significant improvements across the maritime sector, he said.

The capacity of India’s major ports has doubled, and turnaround times have been significantly reduced, Modi said.

Cruise tourism has gained substantial momentum and inland waterways have experienced remarkable growth, with cargo movement increasing by more than 700 per cent, he said.

The number of operational waterways has expanded from just three to an impressive 32, he said. “Furthermore, the net annual surplus of our ports has seen a nine-fold increase over the past decade,” Modi said.

The maritime sector is driving India’s growth, the PM said. Over the last decade, it has transformed significantly, boosting trade and port infrastructure, he added.

“A quarter of the 21st century has passed. The next 25 years of this century are even more crucial, so our focus is on Blue Economy and Sustainable Coastal Development,” Modi said.

“We are placing great emphasis on green logistics, port connectivity and coastal industrial clusters,” he said, adding that significant strides have been made to drive next-generation reforms in the maritime sector.

“The year 2025 has been a landmark year for the country’s maritime sector, marked by several significant achievements. India’s first deep-water international transshipment hub, Vizhinjam Port, became operational this year.

“Adding to the nation’s pride, the world’s largest container vessel recently docked at the port, showcasing its global capability,” Modi said.

During the fiscal year 2024–2025, India’s major ports achieved a record-breaking cargo throughput, setting new benchmarks in efficiency, he said.

Kandla Port made history by launching the nation’s first megawatt-scale indigenous green hydrogen facility, Modi said.

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President Murmu flies in Rafale fighter jet, calls it unforgettable experience

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President Murmu Rafale flight

President Droupadi Murmu on Wednesday took a sortie in a Rafale fighter jet from the Indian Air Force Station in Ambala, and described the experience as “unforgettable”, one that instilled a “renewed sense of pride” in India’s defence capabilities.

Murmu made history as she became the first President of India to fly in two different fighter aircraft of the Indian Air Force (IAF). Previously, she undertook a sortie in a Sukhoi 30 MKI in April 2023 from Tezpur in Assam.

Donning a G-suit and sporting sunglasses, Murmu, who is also the commander-in-chief of the Indian Armed Forces, was seen posing for pictures and flashing a thumbs-up gesture before the French-made jet, flown by Group Captain Amit Gehani, Commanding Officer of the 17 Squadron, took off at 11:27 am.

The sortie lasted for approximately 30 minutes, covering about 200 kilometres. The aircraft reached a height of about 15,000 feet above sea level and a speed of approximately 700 kilometres per hour, according to a statement from the President’s office.

Upon landing, the President shared her delight in the visitor’s book, saying, “The sortie on Rafale is an unforgettable experience for me. This first flight on the potent Rafale aircraft has instilled in me a renewed sense of pride in the nation’s defence capabilities. I congratulate the Indian Air Force.”

Air Chief Marshal A P Singh also flew a sortie in a separate aircraft from the same air base.

Upon arrival in Ambala, the President was accorded a ceremonial guard of honour. Prior to the flight, President Murmu was pictured with Squadron Leader Shivangi Singh, the country’s first woman Rafale fighter jet pilot.

Singh was claimed to have been captured during ‘Operation Sindoor’ by a pro-Pakistan social media handle. The Press Information Bureau Fact Check had previously confirmed this claim as fake.

President Murmu’s flight follows in the footsteps of former Presidents who have flown in fighter jets, starting with A P J Abdul Kalam (Sukhoi 30 MKI) on June 8, 2006, and Pratibha Patil (Sukhoi 30 MKI) on November 25, 2009.

Manufactured by Dassault Aviation, Rafale jets were formally inducted into the IAF’s 17 Squadron, the ‘Golden Arrows’, in September 2020 at the Ambala Air Force Station.

The first five Rafale aircraft, which had arrived from France on July 27, 2020, were inducted into the Squadron.

The jets were used in Operation Sindoor, which was launched on May 7 to destroy several terror infrastructures in territories controlled by Pakistan. The strikes triggered four days of intense clashes that ended with an understanding between the two neighbours on halting the military actions on May 10.

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