Sebi's delay in Adani probe allowed Modi to navigate polls without addressing role in his friend’s illicit activities: Congress

News Network
August 12, 2024

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New Delhi: Stepping up the attack over the Adani issue, the Congress on Monday pounded on the Securities and Exchanges Board of India (Sebi), alleging that the market regulator is seeking to project an “image of hyperactivity” following the new Hindenburg report on its chief Madhuri Buch, but reminded that what matters is actions not activities.

Rejecting the Sebi statement defending its action on Adani Group and giving a clean chit to its chief, the party demanded that the Supreme Court must transfer the investigation to the CBI or a Special Investigation Team “given the likelihood of Sebi’s compromise”.

Congress General Secretary (Communications) Jairam Ramesh also reiterated the party’s demand for Buch’s resignation and a probe by the Joint Parliamentary Committee (JPC). “At a minimum, the Sebi Chairperson must resign to restore Sebi’s integrity,” he said.

He said the Sebi response on the ongoing probe into Adani Group has “sought to project an image of hyperactivity” by referring to issuance of 100 summons, 1,100 letters and emails and examining documents running into 12,000 pages. “This must have been very exhausting, but it diverts attention from the core issues involved. Actions matter, not activities,” he said.

In a statement, he said the “illusion” that the Sebi Chairperson and her husband had separated their finances has been “shattered by the revelation” that after joining Sebi, she had transactions in the fund from her personal email account on February 25, 2018.

It is “shocking to discover” that the Sebi Chairperson and her husband invested in the same Bermuda and Mauritius-based offshore funds where Vinod Adani and his close associates, Chang Chung-Ling and Nasser Ali Shaban Ahli, also invested, he said, adding that both these funds were currently under Sebi investigation.

“Did the Sebi Chairperson recuse herself from the Adani investigations? Do these conflicts of interest explain the prolonged investigation, a delay that has benefited both Adani and the Prime Minister while damaging Sebi’s reputation? How can a match proceed if the umpire herself is compromised?” Ramesh said.

On SC’s March 2023 order to investigate the allegations of stock manipulation by Adani Group, he said the Sebi investigation remains incomplete . The fact is that Sebi’s seeming inability to close two of its 24 investigations against Adani Group has delayed the publication of its findings for over a year, he said.

This “delay conveniently” allowed Prime Minister Narendra Modi to navigate an entire general election without addressing his role in facilitating his “close friend’s illicit activities”, he alleged.

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News Network
February 11,2025

Mysuru: On Monday night, tensions escalated in front of Mysuru's Udayagiri Police Station as thousands gathered to protest a controversial social media post. The post, which critics say portrayed Muslims negatively, featured images resembling political figures Rahul Gandhi, Aravind Kejriwal, and Akhilesh Yadav, and was titled "three idiots." The post also showed a person performing namaz with Arabic script prominently displayed, further intensifying the allegations of communal insensitivity.

Protesters blocked Mahadevapura Main Road and, at times, resorted to stone pelting directed at the police station, police vehicles, and public property. In response, law enforcement used batons and tear gas to disperse the crowd. The ensuing clashes resulted in injuries to several people, including both protestors and police personnel.

By Tuesday morning, normalcy had largely returned. Senior officials—including ADGP R. Hitendra, Police Commissioner Seema Latkar, and DCPs M. Muthuraj and S. Janhnavi—visited the police station to review the situation. Security was significantly increased around the area, and civic workers from the Mysuru City Corporation cleared stones and debris left behind by the demonstrators.

Police have initiated a suo moto case and arrested 32-year-old Suresh, a resident of Kalyangiri Nagar, in connection with the incident. The unrest not only disrupted pedestrian movement but also significantly hampered traffic on Mahadevapura Main Road and its intersections, with city buses bearing the brunt of the blockade.

Despite initial dispersal following police action, the mob reconvened within minutes. It was only around midnight, after assurances from senior police officials—including DCP Muthuraj—that strict action would be taken against those responsible, that the protesters finally dispersed.

Speaking to media on Tuesday morning, ADGP R. Hitendra confirmed that seven police personnel were injured during the stone pelting and announced that a special team had been formed to identify and apprehend the instigators. “The mob was misled by certain individuals who believed that the accused, who shared the derogatory post, would be let off. We will probe thoroughly to determine who is behind this incident,” he stated. 

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News Network
February 11,2025

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Dubai: The Consulate General of India in Dubai recently awarded Aim India Forum with an appreciation award in recognition of its significant contributions to the Indian community in the UAE.

In September 2024, the UAE government launched an amnesty initiative aimed at promoting respect for the law, tolerance, compassion, and social cohesion. This initiative allowed individuals who chose to leave the country during the amnesty period to do so without facing overstay fines, exit fees, or entry bans, while retaining the right to re-enter the UAE at any time.

Aim India Forum was invited to collaborate with the Indian Consulate during this amnesty period. Our Founder President, Shirali Shaikh Muzaffer, accepted the invitation and dedicated four months to this important initiative. Alongside other community organizations, including DUBAI KMCC, IPF UAE, FOI UAE, and others, Aim India Forum worked tirelessly to support fellow Indian nationals in need.

His Excellency Satish Kumar Sivan, Consul General of India, acknowledged and congratulated Founder President Shaikh Muzaffer and Board Member Mohammed Niyaz for their unwavering dedication and efforts throughout this project.

The Aim India Forum played a pivotal role in the safe repatriation of distressed and stranded Indian citizens in the UAE. An amnesty help desk was set up at the Indian Consulate to assist those seeking amnesty. This desk offered a range of services at no cost, including Emergency Certificates (one-way travel documents), labor cancellation, case clearance, and the issuance of exit permits/outpasses. Through these efforts, the Consulate General of India in Dubai successfully assisted 15,000 Indian nationals.

In partnership with various Indian diaspora organizations, CGI Dubai facilitated the issuance of 2,117 passports, 3,589 emergency certificates, and supported the acquisition of over 3,700 exit permits. Many individuals also benefitted from our guidance in securing fee and penalty waivers from UAE authorities.

As this operation concludes, we extend our deepest gratitude to the UAE Government for its unwavering support. We also wish to express our sincere thanks to the dedicated volunteers from diaspora organizations who played an instrumental role in the success of this initiative.

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News Network
February 7,2025

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Governor Thaawarchand Gehlot returned to the State Government the Karnataka Micro Loan and Small Loan (Prevention of Coercive Actions) Ordinance, 2025, suggesting that the ordinance will benefit borrowers while no provision has been made to provide protection to lenders.

Sources in the government said that the Governor felt the need for a detailed discussion on the ordinance in the legislature. Since the budget session will commence in March 2025, he advised the government to discuss the issue during the session, instead of bringing in the ordinance in a hurry.

The Governor advised the State Government to deliberate on the issue in detail and bring an effective enactment in the interest of the affected people and to protect their rights.

Following alleged harassment by microfinance companies seeking repayment of loans, more than a dozen borrowers had committed suicide in Karnataka. To check the harassment from MFIs, the government has proposed the ordinance.

The Raj Bhavan is of the opinion that it is the duty of the State to protect the vulnerable persons of the society. But, it is also necessary to protect the lawful and genuine rights of the persons who have lent to needy persons within the existing laws with proper checks and balance mechanism.

Mr Gehlot noted: “If all the pending loans with interest as on date is discharged, the lawful and genuine lenders may face trouble. Further, they have no remedy to recover their pending amounts, which may lead to legal battle.”

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