Cong demands SEBI probe into Adani Group over ‘stock manipulation’ and ‘accounting fraud’

News Network
January 27, 2023

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As the Adani Group is on the defence after the Hindenburg research accused the business entity of “brazen stock manipulation” and “accounting fraud”, the Congress on Friday issued a statement seeking "serious investigation" by the SEBI into the matter.

"The allegations require serious investigation by those who are responsible for the stability and security of the Indian financial system, viz. the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI)."

Senior Congress leader Jairam Ramesh also questioned the Modi government for turning a blind eye to their "favourite business group".

"For all its posturing about black money, has the Modi government chosen to turn a blind eye towards illicit activities by its favourite business group? Is there a quid pro quo? Will SEBI investigate these allegations to the fullest and not just in name?"

Hinting at the "close relationship" that Adani Group and Modi government share, Ramesh said that as a "responsible" Opposition, Congress urges SEBI and RBI "to play their roles as stewards of the financial system and to investigate these allegations in the wider public interest."

Jairam Ramesh said that though it is not for them to react on research report on an individual company, Adani Group is "no ordinary conglomerate," since it has been a close ally of the PM Modi since the time he was the CM of Gujarat.  

"The Modi Sarkar can try and impose censorship. But in an era of globalisation of Indian businesses and financial markets can Hindenburg-type reports that focus on corporate misgovernance be simply brushed aside and dismissed as being 'malicious'?" the statement said.

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News Network
March 7,2024

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Bengaluru: The BJP, which aims to secure significant victories in Karnataka in the upcoming Lok Sabha polls, may nominate two of its former Chief Ministers -- Basavaraj Bommai and Jagadish Shettar, both hailing from the dominant Lingayat community, considered the party's core vote-base. Providing indications about this, veteran party leader B S Yediyurappa said discussions have taken place regarding candidates for all 28 Lok Sabha seats in the state, including Bommai and Shettar, with Union Home Minister Amit Shah and the party's national president J P Nadda, but no final decision has been made.

Yediyurappa, a former Chief Minister and a member of the BJP's Parliamentary Board and Central Election Committee, also hinted that the BJP may allocate two to three seats to its alliance partner JD(S) in Karnataka, with the final decision to be made by the party's national leadership, including Prime Minister Narendra Modi. BJP leaders from various states are meeting Shah and Nadda ahead of the party's Central Election Committee, which includes Modi and other senior leaders, holding its second meeting later this week to finalize the party's candidates for the Lok Sabha polls. The party has so far announced candidates for 195 Lok Sabha seats out of the total 543 across the country.

"Yesterday, Amit Shah ji, Nadda ji, and all of us together discussed candidates for all 28 Lok Sabha seats. Who should be given the ticket has not yet been finalized. All of that will be discussed with the Prime Minister, and we might get clarity in two to three days," Yediyurappa told reporters in the national capital. He added, "Everything has been discussed, but who will be given a ticket from where has not yet been finalized. Discussions have happened about Bommai and Jagadish Shettar."

Speculations are rife within the state BJP circles that Bommai, currently an MLA from Shiggaon, may be fielded from Haveri, with the party's sitting MP Shivakumar Udasi announcing retirement from electoral politics after the current term ends. Shettar may be fielded from Belgaum (Belagavi), currently represented by Mangala Angadi, the widow of former Union Minister of State Suresh Angadi. She won by a margin of over 5,000 votes in the 2021 bypolls against the Congress strongman Satish Jarkiholi when the seat fell vacant due to her husband's death.

BJP aims to replace Mangala with a strong candidate to retain the seat, and Shettar’s name is doing the rounds as he also happens to be a relative of the Angadi family and was the poll incharge of this seat during the bypoll. Shettar, who quit the BJP to join the Congress ahead of the state assembly polls last year after being denied the ticket, rejoined his old party in January. Both Bommai and Shettar are from the Lingayat community, which is considered the strong vote-base of the BJP in Karnataka. According to party sources, the community's "slight shift" away from the saffron party in the Assembly polls last year is said to be one of the major reasons for its defeat. Yediyurappa is also a Lingayat.

According to Yediyurappa, there will be another round of discussions with the BJP's central leadership on Thursday at which some decisions may be taken. He also expressed confidence about winning at least 25 seats, and noted that efforts are underway in this direction. Regarding the seats that will be given to JD(S), he said the decision made by Modi and Shah is final. "It is not yet finalized as to which seats will be given to them. Two to three seats may be given to them," he added.

BJP and JD(S) have held discussions on seat sharing, but there is no official announcement yet. As per available information, JD(S) may contest in three seats -- Mandya, Hassan, and Kolar. There may also be a possibility of a JD(S) candidate contesting on the BJP symbol, according to sources, and it is likely to be noted cardiac surgeon and former Prime Minister H D Deve Gowda's son-in-law Dr. C N Manjunath from the Bangalore Rural segment, where sitting MP and Deputy Chief Minister D K Shivakumar's brother D K Suresh is likely to be the Congress candidate once again. There is also pressure from party workers on Gowda's son -- former CM and JD(S) state President H D Kumaraswamy -- to contest from the Vokkaliga bastion of Mandya, JD(S) sources added.

The BJP aims to repeat or surpass its 2019 Lok Sabha polls performance, when it swept the state, winning 25 out of the total 28 seats, and ensured the victory of a party-supported independent candidate in Mandya. The Congress and the JD(S), which were running a coalition government back then and fought the election together, each won just one seat. However, the political landscape has changed significantly; the Congress scored a resounding victory in the Assembly elections in May last year and now appears battle-ready, determined to put up a strong show in the Lok Sabha polls. It is also a role reversal of sorts for JD(S), which joined the BJP-led NDA in September last year and aims to prove that it is still a force to be reckoned with, particularly in South Karnataka.

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News Network
March 16,2024

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Ottawa, Mar 16: An Indian-origin couple and their teenage daughter were killed in a "suspicious" fire which tore through their home last week in Canada's Ontario province, police said on Friday.

A fire engulfed a home at the Big Sky Way and Van Kirk Drive area of Brampton on March 7, a press release by the Peel Police said.

After the blaze was put out, investigators located what was believed to be human remains within the gutted house, but the number of people killed couldn't be ascertained at the time.

The charred remains were on Friday identified as those of three family members: 51-year-old Rajiv Warikoo; his wife, 47-year-old Shilpa Kotha; and their 16-year-old daughter, Mahek Warikoo.

Police said that they resided at the address before the fire.

Peel police Constable Taryn Young on Friday said the fire had been deemed suspicious, the CTV news channel reported.

"At this time, we are investigating this with our homicide bureau, and we are deeming this as suspicious as the Ontario Fire Marshal has deemed that this fire was not accidental," the report quoted Young as saying.

"There's not much left to it," Young said when asked about the possible cause of the fire.

"Looking into something like that as a fire marshal, I'm sure it's very tough when there is not much left to look at. But we are exhausting all avenues," she said.

The deceased family's neighbour, Kenneth Yousaf, said that the family had lived on the street for about 15 years, and he never noticed any problems with them.

Yousaf said he was alerted to the fire last week by a family member, who heard a big "bang." "When we came out, the house was on fire. So sad. Within a few hours, everything was down to the ground," the report quoted Yousaf as saying.

In a press release, police said they are continuing to investigate the deaths of the three family members and urged anyone with information to come forward.

"The circumstances surrounding the house fire remains the focus of an active investigation, and anyone with information or video footage (dashcam or otherwise) is urged to contact Homicide detectives," police said.

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News Network
March 13,2024

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Bengaluru, Mar 13: Karnataka government has not yet discussed the issue of implementation of the Citizenship (Amendment) Act (CAA) in the State, and the Cabinet will take a call on it, Home Minister G Parameshwara said on Wednesday.

The Centre on Monday announced the implementation of the Citizenship (Amendment) Act, 2019, a move that comes four years after the contentious law was passed and paves the way for citizenship to undocumented non-Muslim migrants from Pakistan, Bangladesh and Afghanistan.

"We have not yet discussed it. If the Chief Minister says it has to be discussed and decided in the Cabinet, we will decide it. Whether to accept or reject it has to be decided by the Cabinet," Parameshwara told reporters.

The rules were notified days ahead of the expected announcement of the Lok Sabha elections. With this, the Modi government will now start granting Indian nationality to self-proclaimed persecuted non-Muslim migrants — Hindus, Sikhs, Jains, Buddhists, Parsis and Christians — from the three countries.

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