Achche din for Adani brothers: tycoons get discharged in cheating case

June 23, 2014

Mumbai, Jun 23: In a major relief to Gautam Adani and Rajesh Adani, a local court has discharged the industrialists in a case of cheating and criminal conspiracy related to purchase and sale of shares.

adani
Adani brothers have close relationship with Indian prime minister Narendra Modi. It is believed that they have even spent huge amount of money for the election campaign for Mr Modi during recent Lok Sabha polls.

The Serious Fraud Investigating Office (SFIO) had, in 2012, filed a charge sheet against twelve accused including the Adani brothers, Adani Exports Limited and Adani Agro Private Limited.

According to SFIO, Adani Agro allegedly provided funds and shares to Ketan Parekh entities for running illegal activities in the capital.

The agency also alleged that the promoters off-loaded their share holding when share price was at peak and started purchasing it when the prices went down, to maintain their share holding in the company and earn profit.

"Mere allegation that the Adanis have purchased the shares when the prices were low and sold it when the prices were high does not constitute an offence of cheating," observed Additional Chief Metropolitan Magistrate R M Khan in the order recently.

Though the Adanis were discharged on May 9, the copy of the detailed order was given last week only.

The court observed that "deception" is the necessary ingredient for the offence of cheating under the section.

"The complainant (SFIO) is therefore necessarily bound to prove that the inducement has been caused by the deception exercised by the accused," the court said. It also observed that the case of conspiracy was also not made out.

"In order to bring home the charge of conspiracy, it is necessary to establish that there was an agreement between the parties for doing an unlawful act by illegal means," the court noted.

"There is no averment in complaint sufficient to show that the Adanis have committed an act of criminal conspiracy or cheating," it said.

The judge also observed that there was no "report" by any member of the public against the Adanis that they have been cheated.

Adani's counsel had argued that there is no material which prima facie constitutes any offence. However, the SFIO had argued in the court that there are specific allegations against the Adanis mentioned in the charge sheet.

Meanwhile, department sources said that they would study the order in detail and then decide in due course of time whether to challenge it in a higher court.

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coastaldigest.com news network
December 20,2025

Mangaluru, Dec 20: City Police Commissioner Sudheer Kumar Reddy has issued a high-alert warning to vehicle owners regarding a surge in cyber fraud targeting those looking to pay traffic violation fines. Fraudsters are reportedly exploiting recent government discount schemes on traffic penalties to deceive citizens.

The Scam: How Fraudsters Strike

Criminals are using SMS, WhatsApp, and social media to circulate suspicious links and APK files (Android application packages). They claim these apps allow users to pay e-challans at a discount.

•    Device Hacking: Downloading these unauthorized apps gives hackers full access to the victim's smartphone.

•    Financial Theft: Once the phone is compromised, fraudsters intercept OTPs and personal data to drain bank accounts.

•    Phishing Sites: Fake websites mimicking official portals are also being used to harvest banking credentials.

Already, two residents within Mangaluru city limits have reported significant financial losses after falling victim to these fraudulent apps.

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News Network
December 19,2025

Mangaluru: Public transport in Mangaluru is set for a state-led transformation as the government moves to deploy 100 new electric govt buses to replace unreliable private services. The initiative aims to provide a dependable alternative to private operators who have been frequently "cutting trips," leaving thousands of commuters stranded.

The announcement was made by Deputy Commissioner and MCC Administrator Darshan HV during a public phone-in session. The move specifically targets routes where private bus service has become erratic, ensuring that citizens no longer have to rely on a fluctuating private sector for their daily commute.

Restoring the Govt Presence

The transport crisis was brought to the forefront by Ramayya, a resident of Bajal, who highlighted a growing trend of private buses skipping morning and night trips. With the previous KSRTC (govt) services discontinued, residents have been left without a fallback option.

To fix this, the DC confirmed that the PM-eBus Sewa Scheme will bring 100 government-owned electric buses to the city:

•    Phased Deployment: The first 50 of the new 100 government buses are scheduled to arrive by March 2026.

•    State Infrastructure: Two new government depots, including one at Mudipu, are being prepared for operations.

•    Recruitment: The state has already begun training a new batch of government bus drivers to ensure the fleet is operational the moment it arrives.

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News Network
December 15,2025

Mangaluru police have arrested a 27-year-old NRI on his return from Saudi Arabia in connection with an Instagram post allegedly containing derogatory and provocative remarks about the Hindu religion, officials said on Monday.

The accused, Abdul Khader Nehad, a resident of Ulaibettu in Mangaluru, was working in Saudi Arabia when the post was uploaded, police said.

A suo motu case was registered at the Bajpe police station on October 11 after an allegedly offensive post circulated from the Instagram account ‘team_sdpi_2025’. Police said the content was flagged for being provocative and derogatory in nature.

During the investigation, technical analysis traced the Instagram post to Nehad, who was residing abroad at the time, a senior police officer said. Based on these findings, a Look Out Circular (LOC) was issued against him.

On December 14, Nehad arrived from Saudi Arabia at Calicut International Airport in Kerala, where he was taken into custody on arrival. Police said further investigation is underway.

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