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
May 6,2024

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The Israeli regime is forcibly evacuating Palestinians from the eastern part of Rafah in the southern Gaza Strip amid the prospect of its widely-discouraged ground invasion.

“The estimate is around 100,000 people,” an Israeli military spokesman told journalists on Monday when asked how many people were being evacuated.

International organizations, including the United Nations, have repeatedly warned the regime against invading the city, citing its hosting around 1.5 million Palestinian refugees.

UN Secretary-General Antonio Guterres said a ground assault on Rafah would “put the final nail in the coffin” for humanitarian aid operations in the Gaza Strip.

The UN Office for the Coordination of Humanitarian Affairs also said, “Any ground operation would mean more suffering and death,” with an official saying “It could be a slaughter of civilians.”

Multiple aid agencies, including the Norwegian Refugee Council, have likewise warned against a Rafah offensive.

The NRC said such an invasion “would profoundly exacerbate the already catastrophic levels of need and the humanitarian emergency for millions of civilians with nowhere left to go.”

The official alleged Hamas had killed three Israeli forces on Sunday, attacking them from Rafah.

The evacuation order came a sat least 22 people lost their lives in the regime’s airstrikes killed in Rafah earlier on Monday.

Rafah’s evacuation “is part of our plans to dismantle Hamas,” the Israeli spokesman added, referring to the Palestinian resistance movement that has been defending Gaza in the face of the war.

The Palestinians have fled there from the ravages of a war that the regime began waging against Gaza on October 7, following a retaliatory operation by the coastal sliver’s resistance groups.

At least 34,683 Palestinians, mostly women and children, have been killed and 78,018 others injured so far during the brutal military onslaught.

On Friday, Hossam Badran, a member of Hamas’ Political Bureau, said Israeli prime minister Benjamin Netanyahu’s insistence on carrying out a ground invasion of Rafah was a key stumbling block in negotiations aimed at a truce agreement.

The Israeli premier has said the regime would go ahead with invading the city “with or without” a truce.

Hamas has, however, asserted that the regime has failed to defeat the resistance during the war.

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News Network
May 8,2024

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Congress leader Sam Pitroda has stepped down from the post of Chairman of the Indian Overseas Congress and his resignation was accepted by the party. Congress leader Jairam Ramesh took to X and announced that Sam Pitroda had decided to resign from the key post "of his own accord".

Pitroda had been under fire over his controversial remark that Indians in the East resemble the Chinese while those in the South look like Africans.

"We could hold together a country as diverse as India -- where people on East look like Chinese, people on West look like Arab, people on North look like maybe White and people in South look like Africans. It doesn't matter. We are all brothers and sisters," Pitroda said during an interview with The Statesman.

The Congress immediately distanced itself from Pitroda's remarks, terming them "unacceptable".

"The analogies drawn by Mr Sam Pitroda in a podcast to illustrate India's diversity are most unfortunate and unacceptable. The Indian National Congress completely dissociates itself from these analogies," Jairam Ramesh said in a post on X.

The BJP also hit out at the Congress over Pitroda's remarks and termed them "racist and divisive".

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News Network
May 17,2024

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Bengaluru: The India Meteorological Department (IMD) on Friday forecast heavy rainfall and thunderstorms in a few districts of Karnataka and said Bengaluru is likely to witness light to moderate rain and thunderstorms, with temperatures ranging from 30 degree Celsius to 22 degree Celsius in the next 24 hours.

Shivamogga, Chikkamagaluru, Kodagu, Hassan, Mysuru, Mandya, Chamrajanagara, Udupi and Dakshina Kannada districts are likely to experience heavy to very heavy rainfalls between May 17 and 21, said C S Patil, Director of Meteorological Centre, India Meteorological Department, Bengaluru.

According to India Meteorological Department, some places in Kodagu, Hassan, Mysuru, Mandya and Tumukuru districts will also witness, gusty winds (40-50 kmph) on May 18.

Moderate rain and thundershowers are also likely in Chikkaballapura, Chitradurga, Davangere, Kolar, Ramanagara and Vijayanagara districts.

IMD also predicts light to moderate rain very likely at some places over Bagalkote, Belagavi, Bidar, Dharwad, Gadag, Haveri, Kalaburgi, Koppal, Raichur and Yadgir districts.

On May 16, Channagiri in Davanagere district received the highest rainfall of 6 cm. 

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