Leader of Opposition Rahul Gandhi on Thursday demanded immediate arrest of industrialist Gautam Adani after the billionaire industrialist was charged in the United States for alleged bribery and fraud.
After subdued earnings in the first half amid global headwinds, India Inc is taking a cautious approach on their capital expenditure (capex) for the second half of the financial year ending March 2025, according to management commentary. Minutes from the October monetary policy meeting show the Reserve Bank of India's (RBI's) optimism about private investments picking up.
The take by the Economic Survey 2024-25 on work hour week had come weeks after Larsen & Toubro Ltd Chairman and Managing Director SN Subrahmanyan sparked off a raging debate on social media when he said employees should work 90-hour a week, including on Sundays rather than sit at home.
Both Houses of Parliament were adjourned for the day after repeated disruptions amid uproarious scenes as members of treasury and opposition benches traded charges on the Soros and Adani issues.
Billionaire Gautam Adani's younger son Jeet on Friday married fiance Diva Shah at a small and intimate, traditional ceremony with a close group of friends and family in attendance.
Pranav Adani has come a long way since 1999, when he first got actively involved with the Adani Group's businesses, run by his uncle, Gautam Adani.
US short-seller Hindenburg Research had shared an advance copy of its damning report against Adani group with New York-based hedge fund manager Mark Kingdon about two months before publishing it and profited from a deal to share spoils from share price movement, according to market regulator Sebi. The Securities and Exchange Board of India (Sebi), in its 46-page show cause notice to Hindenburg, detailed how the US short seller, the New York hedge fund and a broker tied to Kotak Mahindra Bank benefited from the over USD 150 billion routs in the market value of Adani group's 10 listed firms post-publication of the report.
Adani group is all set to launch fruits and vegetables supply in a big way.
Adani group plans to invest about Rs 1.3 lakh crore across its portfolio companies this fiscal as it doubles down on its $100 billion investment guidance over the next 7-10 years to grow businesses, group CFO said on Tuesday. The investment across portfolio companies that range from ports to energy, airports, commodities, cement and media will be 70 per cent met through internal cash generation and the remaining through debt, Group CFO Jugeshinder 'Robbie' Singh told reporters in Ahmedabad.
Days after violence erupted over a survey of a Mughal-era mosque in Sambhal, an imam of another mosque was fined Rs 2 lakh for allegedly using a loudspeaker at high volume. The incident occurred in the Anar Wali Masjid, prompting authorities to take action. The imam, identified as Tahzeeb, was fined and granted bail, with orders to refrain from similar conduct for six months. The incident comes amid ongoing tensions in Sambhal following the November 24 violence during a court-ordered survey of the Shahi Jama Masjid, which resulted in four deaths and several injuries. The incident has become a major political controversy, with Congress leader Priyanka Gandhi Vadra raising the issue in Parliament.
If Hindenburg or its partner do not join the investigation, then Sebi may pass an ex-parte order against it, which may be enforced as a foreign award in US courts.
According to the government, the additional chief secretary of the state housing department is designated to sign an agreement with the Union government for the land lease transfer.
The airport, being developed by the Adani Group, is expected to start commercial operations early next year.
Singh, who opened up the economy as finance minister and served as prime minister for two consecutive terms, died on Thursday at the age of 92. "History will forever honour his pivotal role in the transformative 1991 reforms that reshaped India and opened its doors to the world.
A plea has been filed in the Supreme Court seeking review of its January 3 verdict by which it refused to transfer the probe into allegations of stock price manipulation by the Adani Group to a special investigation team or the CBI. In a significant win for the Adani Group, the apex court had declined to order a CBI or SIT probe and said in its judgement that market regulator Sebi was conducting a "comprehensive investigation" into the allegations and its conduct "inspires confidence".
The petition claimed there were "mistakes and errors" in the judgment, and in light of certain new material that had been received by the counsel for the petitioner, there were sufficient reasons for a review of the verdict.
Life Insurance Corporation of India (LIC) has made the most of the stock market boom by reducing stakes in all its top conglomerates during the financial year 2023-2024 (FY24). However, even after reducing exposure, the value of its remaining stake has gone up substantially across all groups, according to data collated from stock exchange filings.
Weighing in on the 90-hour workweek controversy, ITC Ltd chairman Sanjiv Puri said that it is more important for the workers to be aligned to the grander vision of the company rather than the number of hours put in. Giving an analogy of many workers building a castle, he said, "If you ask a mason what he is doing, he might say he is laying a brick, another might say he is building a wall but some might say he is building a castle.
Leaders of various INDIA bloc parties have written to Lok Sabha Speaker Om Birla, urging him to allow leaders of the opposition in both Houses of Parliament to speak during the Constitution Day function to be held on Tuesday. The function will be addressed by President Droupadi Murmu, Vice President Jagdeep Dhankhar, and Lok Sabha Speaker Om Birla. The letter, signed by leaders of various opposition parties, states that they believe in the best traditions and interests of Parliamentary democracy, the Leaders of Opposition (LoPs) in both Houses should also be given an opportunity to speak on this historic occasion. Parliamenary Affairs Minister Kiren Rijiju, however, said that Prime Minister Narendra Modi will not be addressing the event and accused "some of the Opposition parties " of giving reactions without knowing the actual arrangement. He added that sitting arrangements have been made for the Leaders of Opposition of both Lok Sabha and Rajya Sabha on the dais.
What some of our politicians were up to on Friday, October 18, 2024.
The opposition on Sunday asked the Centre to allow discussions in the Parliament on the United States prosecutors' bribery charges against the Adani Group even as Union minister Kiren Rijiju made it clear that the matters to be taken up in the two Houses will be decided by their authorised committees with the consent of the respective Chair.
Challenging the decision of the Biden Administration to investigate the activities of Indian billionaire Gautam Adani and his companies, an influential Republican lawmaker on Tuesday said such selective actions risk damaging critical alliance partners.
Thackeray wondered whether the state government was trying to favour the Adani Group at the cost of residents of Dharavi, a sprawling slum colony.
But half the land lies unused due to legal hurdles, lack of investor interest.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
US short seller Hindenburg Research, which had rocked the Adani Group with allegations of stock market manipulation and accounting fraud, on Tuesday said it has received a show cause notice from Indian capital market regulator Sebi over alleged violations in placing bets on the conglomerate stocks. Hindenburg termed the show cause notice as "nonsense" and "concocted to serve a pre-ordained purpose: an attempt to silence and intimidate those who expose corruption and fraud perpetrated by the most powerful individuals in India."
Deccan Chronicle holds 80 per cent stake in Deccan Chargers and had paid $107 million for the IPL franchise.
Bollywood stars attended Prime Minister Narendra D Modi and his ministry's swearing-in ceremony at Rashtrapati Bhavan on Sunday, June 9, 2024. evening.
The combined market capitalisation of Adani group companies increased to Rs 15.11 trillion last week. As a result, Gautam Adani's family raced ahead of Mukesh Ambani of Reliance Industries, reclaiming the title of India's wealthiest promoter.
Siddharth Roy Kapur's RKF aims to raise around $50 million by offering up to a 50 per cent stake in the company.
The Adani group on Monday said it will offer eligible residents of the Dharavi slum clusters new flats measuring 350 sq ft. The Adani group, which is redeveloping Dharavi slums in collaboration with the Maharashtra government, claimed the flat size was "17 per cent more" than what is offered as part of slum redevelopment projects. The new flats will have a kitchen and toilet, Adani said in a statement, adding that earlier, the dwellers of informal settlements were given houses measuring 269 sq ft.
The collective wealth of the 100 richest went past $1 trillion for the first time.
Billionaire banker Uday Kotak founded bank as well as brokerage created and oversaw an offshore fund used by an unnamed investor to profit from a plunge in Adani shares that followed a damning Hindenburg report, the US short seller said on Tuesday. Hindenburg Research, which had in a January 2023 report alleged stock market manipulations and accounting fraud at the Adani group, said it has received a show cause notice from the Indian markets regulator Sebi over gains made from betting on the conglomerate's shares.
Earlier in the day, an IndiGo A320 passenger aircraft landed successfully at 1.32 pm at runway 08/26 of the under-construction Navi Mumbai International Airport, paving the way for the Navi Mumbai International Airport Ltd (NMIAL) to seek an aerodrome licence from the aviation safety regulator Directorate General of Civil Aviation (DGCA) to start commercial flight services.
With the US filing civil and criminal charges against billionaire Gautam Adani and seven others over a multi-million-dollar bribery scheme, a prominent attorney here has said that the case could escalate significantly, potentially leading to arrest warrants and even extradition attempts. Adani, India's second-richest man, and seven others, including his nephew Sagar Adani, have been charged by the US Department of Justice with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion in profit over 20 years.
Much of the discussion is happening at a "family level, not a corporate level". That means it is an Ambani or a Goenka in direct talks with Johar.
The government and opposition parties on Monday reached an agreement to break the impasse in Parliament with dates announced for discussions on the Constitution in the Lok Sabha and the Rajya Sabha.
Raising the issue during Zero Hour, he said SBI has signed an MoU pledging one of the single largest loans to a corporate house despite five international banks refusing to lend to the Adani project.
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