Ethics Committee Chairman Vinod Kumar Sonkar tabled the panel's first report when the House re-convened at noon after an adjournment during the Question Hour.
Moitra said she has been found guilty of breaching a code of ethics that does not exist and that there was no evidence of cash or gift given to her.
It bought Rs 410 crore of electoral bonds between financial years 2021-22 and 2023-24, but Reliance said the company is not a subsidiary of any Reliance entity.
He alleged that besides Modi and Shah, Finance Minister Nirmala Sitharaman had also commented on the stock markets ahead of elections, which has never happened in the past.
Over 87 per cent of active large-cap schemes failed to outperform the benchmark S&P BSE 100 (total return) in the 2022 calendar year (CY), significantly higher than the 2021 figure of 50 per cent, shows a report by S&P Dow Jones Indices. During the three-year period (CY 2020, '21, '22), the percentage of schemes underperforming the index was even higher at 97 per cent. While active large-cap schemes generally find it tough to outperform due to a rising efficiency in the market, 2022 proved to be even more challenging as mid-cap and small-cap stocks (where they have some allocation) performed poorly vis-a-vis the large-caps.
A top Sri Lankan official, who claimed before a parliamentary panel that Prime Minister Narendra Modi allegedly influenced President Gotabaya Rajapaksa to award a wind power project to the Adani Group in this island nation, resigned on Monday, a day after retracting his earlier statement.
"This is ENTIRE political science," Jairam Ramesh said apparently taking a dig at PM Narendra Modi.
A plea has been filed in the Supreme Court seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to enquire and investigate into the Hindenburg Research report which made a slew of allegations against the business conglomerate led by industrialist Gautam Adani. The fresh public interest litigation (PIL), filed by advocate Vishal Tiwari, has also sought directions to set up a special committee to oversee the sanction policy for loans of over Rs 500 crore given to big corporates. Last week, another PIL was filed in the apex court seeking prosecution of short seller Nathan Anderson of US-based firm Hindenburg Research and his associates in India and the US for allegedly exploiting innocent investors and the "artificial crashing" of Adani Group's stock value in the market.
The 'sudden volatility' in Adani stocks is entirely due to a series of events that was extreme and unique, and played out in too short a period. Investors and regulators pretended that it wasn't so. But then, along came Hindenburg, which forced some eyes to open, points out Debashis Basu.
The global billionaires list witnessed as many as 94 new entrants from India, stated a report by Hurun India on Tuesday. Following a net addition of 84, the country's billionaire tally touched 271 with their combined wealth at $1 trillion, noted the report. Mukesh Ambani, chairman & managing director of Reliance Industries, is the only Indian to make it into the top 10 of the Hurun Global Rich List 2024, a ranking of billionaires in US dollar terms.
Deora further said the Congress has not only failed to come back to power but has also failed to effectively serve as a constructive opposition at the Centre.
The Adani group plans to bid for setting up duty-free shops at the Macau international airport, as India's largest airport operator spreads its wings overseas. In a stock exchange filing, Adani Enterprises, the flagship firm of the conglomerate run by billionaire Gautam Adani, said it has completed the incorporation of a wholly-owned subsidiary, MTRPL Macau Ltd, in Macau on November 20. The subsidiary has been incorporated for the purpose of getting into the duty-free industry.
'I believe that as we produce more, our cost will come down further. We will maintain our competitiveness.'
The opposition leaders are expected to meet at Leader of Opposition in Rajya Sabha Mallikarjun Kharge's office in the Parliament complex around 10 am, sources said.
Both the Lok Sabha and Rajya Sabha were adjourned till 2 pm after opposition members held protest in Parliament seeking a discussion on the issue.
Qwik Supply, the third largest donor to political parities using electoral bonds, bought Rs 410 crore bonds between 2021-22 and 2023-24, and gave all but Rs 25 crore to the BJP.
Benchmark BSE Sensex and Nifty closed higher in a highly volatile trade on Monday, riding on the back of a recovery in IT, oil and financial stocks after a two-day fall. The 30-share Sensex recovered 169.51 points or 0.29 per cent to settle at 59,500.41. During the day, it rose by 313.34 points or 0.52 per cent to 59,644.24.
The on-time performance (OTP) of Indian carriers took a major dip in January as dense fog foiled their flight schedules. According to data from the Ministry of Civil Aviation reviewed by Business Standard, five out of six major Indian carriers - IndiGo, Air India, AIX Connect, Akasa Air, and Vistara - recorded their lowest OTPs in at least the last 11 months. In response to queries, an Air India spokesperson said that during this winter, northern India experienced unusually prolonged periods of dense fog affecting traffic at the airline's two largest hubs -- Delhi and Mumbai.
Trinamool Congress leader Abhishek Banerjee voiced support for MP Mahua Moitra on Monday, asserting that the party stands behind her in the face of a recommendation for expulsion from Lok Sabha over a 'cash-for-query' controversy.
In his Marathi autobiography Lok Maze Saangati published in 2015, Pawar has lavished praise on Adani describing him as 'hard-working, simple, down to earth' and with ambition to make big in the infrastructure sector.
Embattled billionaire Gautam Adani on Thursday spoke publicly for the first time since his ports-to-energy conglomerate publicly battled a short seller's accusation of stock manipulation and accounting fraud, saying the abrupt move to withdraw a fully-subscribed share sale at his flagship firm was due to market volatility. His group continued to lose on the stock market, with the cumulative rout now nearing $108 billion in a week -- one of the biggest wipeouts in India's history. "After a fully subscribed follow-on public offering (of Adani Enterprises Ltd), yesterday's decision of its withdrawal would have surprised many.
Lord Jo Johnson, younger brother of former British prime minister Boris Johnson, has resigned his non-executive directorship of a UK-based investment firm linked with the now-withdrawn Adani Enterprises Follow-on Public Offer (FPO). 'The Financial Times' newspaper referenced UK Companies House records to reveal that 51-year-old Lord Johnson had been appointed as a director of London-based Elara Capital Plc in June last year and resigned on Wednesday, the day when the Adani Group announced withdrawal of the FPO. Elara, which described itself as a capital markets business raising funds for Indian corporates, was among the bookrunners on the FPO.
Battling a hostile takeover bid, NDTV's promoter entity RRPR Holding Ltd has sought clarity from Sebi on whether its earlier order bars the conversion of warrants issued to VCPL, now owned by the Adani group. Passing an order on November 27, 2020, the Securities and Exchange Board of India (Sebi) has restrained NDTV founders Radhika and Prannoy Roy to access the securities market for a period of 2 years. As restrictions are still in force, hence a prior written approval from Sebi was required for Vishvapradhan Commercial Private Limited (VCPL) for the exercise of the conversion option on the warrants, NDTV founders had said.
"What would be your advice for investors?" 'Keep it simple. Don't panic.'
Despite Dharavi being located in the Mumbai North Central constituency and Mahalaxmi Racecourse in South Mumbai, the issues have caught the attention of all parties and their candidates.
The decline in LIC's share price makes it the biggest wealth destroyer among IPOs which hit the market after COVID-19 took hold globally in 2020.
Bangladesh has no concerns about Adani Group's ability to supply power from a plant in Jharkhand, said Tawfiq-e-Elahi Chowdhury, adviser to the country's prime minister on energy. Speaking on sidelines of the India Energy Week in Bengaluru, Chowdhury, who holds ministerial rank, said talks with Adani on the supply are private and can't be made public. "Electricity will come very timely. Summer peak is coming and that 600 MW of Adani Power is very helpful," he said.
The Supreme Court has agreed to hear on Friday a plea seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to inquire and investigate into the Hindenburg Research report which has made a slew of allegations against the business conglomerate led by industrialist Gautam Adani.
Adani Group is expected to report a 20 per cent rise in its earnings before interest, tax, depreciation, and amortisation (Ebitda) at Rs 61,200 crore for the year that ended in March 2023 (2022-23, or FY23), according to a note submitted by the group to lenders recently. The group had earned Ebitda of Rs 57,299 crore in the preceding financial year that ended in March 2022 (2021-22). The group's gross debt was Rs 2.27 trillion as of March 31, 2023, and has projected to not take on additional debt until it lowers its existing one.
The Congress on Friday claimed that a 'silent undercurrent' is brewing across western Uttar Pradesh against the 'failures' of the Modi government, as it flagged issues such as 'neglect' of sugarcane farmers and examination paper leaks.
The speech he gave in which he accused the Congress of getting black money in tempos from Ambani and Adani is remarkable.' 'It is a self-goal for sure, but indicates someone who has lost control, someone who is rattled.'
The Question Hour in Lok Sabha has been disrupted every day since March 13.
The Adani group will have understood the fragility of investor trust in the group. The group needs to improve transparency including in areas like share-ownership (which they have long and mistakenly believed can be side-stepped) and related-party transactions, among others, Amit Tandon and Hetal Dalal point out.
The committee headed by Bharatiya Janata Party MP Vinod Kumar Sonkar is meeting later on Thursday to adopt its draft report in what is likely to be hotly contested by opposition members of the panel.
However, there was no official word from the Lokpal.
BJP MP Nishikant Dubey has accused Moitra of asking questions in the Lok Sabha to target the Adani Group at the behest of businessman Darshan Hiranandani. He said it was Hiranandani who used her login to file questions from different places, mostly Dubai.
Ahmedabad could soon have an Indian Premier League team of its own after it was confirmed that billionaire Gautam Adani-owned Adani Enterprises had submitted its bid to buy a new franchise. It is learnt that top corporate houses like Sahara Group, Videocon Enterprises, ICICI are among the other bidders, while guardians of the law of the game Marylebone Cricket Club (MCC) are also in the running for the Pune franchise.
According to sources, Preneet Kaur, a Congress MP, is believed to have voted in support of the report.
The operator, Adani Group, said it has "planned a runway closure on October 18 from 11 am to 5 pm, for repair and maintenance work on both its runways", as part of its annual post-monsoon preventive maintenance exercise.
Days after completing a $6.5 billion acquisition of Ambuja Cements and ACC, billionaire Gautam Adani said his group has planned to double cement manufacturing capacity and become the most profitable manufacturer in the country. He saw a multifold rise in cement demand in India on the back of record-breaking economic growth and the government's infrastructure creation push, which will give significant margin expansion. In a speech made at an event to mark the completion of the acquisition on September 17, the Adani Group founder and chairman said the ports-to-energy conglomerate has in a single stroke become the second largest cement manufacturer in the country.
