MSCI seeks feedback on Adani Group after Hindenburg expose

News Network
January 28, 2023

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Index provider MSCI said on Saturday, January 28, it is seeking feedback on Adani Group and associated securities and is aware of a report issued by short-seller Hindenburg Research.

The US short-seller said on Wednesday it held short positions in the Indian conglomerate, accusing it of improper use of offshore tax havens and flagging concerns about high debt, leading to a massive sell-off of India-listed shares of the conglomerate's companies.

"MSCI is closely monitoring publicly available information regarding the situation and the factors that may impact the eligibility of those relevant securities for the MSCI Global Investable Market Indexes," it said in a statement. 

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News Network
March 13,2024

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An LPG tanker overturned on the Bengaluru-Mangaluru National Highway 75 on Wednesday morning. 

According to police, the tanker overturned at a curve near Double Turn, on Shiradi Ghat road, in Sakleshpur taluk, as the driver lost control.

As there was LPG leakage due to the mishap, the authorities have closed the highway for vehicular movement, as a precautionary measure.

The Fire and Emergency Services personnel and police were rushed to the spot and taken precautionary measure to prevent any fire mishap.

Several vehicles have been stranded midway as the police have closed the road for traffic.

The police have been diverting vehicles plying between Bengaluru-Hassan-Mangaluru, Mangaluru-Hassan-Bengaluru on alternative routes.

According to Deputy Commissioner C Sathyabhama, the vehicular movement has been banned on NH-75, until Wednesday midnight.

The DC's order stated that the vehicle moving from Sakleshpur to Mangaluru will have to pass through Sakleshpur-Hanubalu-Mudigere to reach Mangaluru.

The vehicles from Bengaluru to Mangaluru will pass via Hassan-Bhuvanahalli Cross-Belur. The vehicles from Mangaluru to Bengaluru are diverted via Suliya-Sampaje route. 

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News Network
March 11,2024

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The Prime Minister Narendra Modi-led government on Monday announced the implementation of the Citizenship Amendment Act (CAA). The move to notify the rules of the contentious Citizenship (Amendment) Act came before the enforcement of the Model Code of Conduct (MCC) ahead of the upcoming Lok Sabha elections.

Notably, the CAA was an integral part of the Bharatiya Janata Party’s manifesto for the 2019 Lok Sabha elections. The law was passed by Parliament on December 11, 2019 after Modi government 2.0 came to power.

“Ministry of Home Affairs (MHA) will be notifying today, the Rules under the Citizenship (Amendment) Act, 2019 (CAA-2019). These rules, called the Citizenship (Amendment) Rules, 2024 will enable the persons eligible under CAA-2019 to apply for grant of Indian citizenship,” the Ministry of Home Affairs said in a statement on X.

“The applications will be submitted in a completely online mode for which a web portal has been provided,” it added.

RULES NOTIFIED BEFORE LOK SABHA POLLS

The issue of CAA has drawn massive protests across India in 2019, with some parties calling the legislation divisive.

The government has debunked such narratives and called CAA a “law of the land” that would be implemented.

Speaking at a business summit last month, Union Home Minister Amit Shah said that the CAA rules will be implemented before the Lok Sabha polls.

“Our Muslim brothers are being misled and instigated (against the CAA). The CAA is only meant to give citizenship to those who came to India after facing persecution in Pakistan, Afghanistan and Bangladesh. It is not for snatching anyone’s Indian citizenship,” he had said.

ABOUT CAA

The notification of the rules is set to pave the way for the migrants from neighbouring countries to find citizenship in India.

The CAA amends the Citizenship Act of 1955 to provide Indian citizenship to migrants from Afghanistan, Bangladesh and Pakistan who belong to Hindu, Sikh, Jain, Parsi, Buddhist, and Christian communities and had entered India on or before December 31, 2014, due to religious persecution in their home countries.

The CAA will help refugees from these neighbouring countries, who don’t have documents.

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News Network
March 11,2024

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The Madhya Pradesh High Court on Monday directed the Archaeological Survey of India (ASI) to conduct a scientific survey of the Kamal Maula Mosque complex in Dhar, which according to worshippers is Bhojshala Temple.
 
Previously, the ASI carried out a controversial survey of the disputed Gyanvapi Mosque complex.
 
Bhojshala is an ASI-protected monument, revered by Hindus as a temple of Vagdevi (Saraswati), while the Muslim community regards it as Kamal Maula Mosque.
 
According to an ASI order issued on April 7, 2003, Hindus are permitted to worship inside the Bhojshala complex every Tuesday, while Muslims are allowed to offer Namaz at the site every Friday.

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