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SC sets up committee headed by ex-SC judge to probe Adani-Hindenburg controversy

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The Supreme Court on Thursday formed a committee headed by its retired judge A.M. Sapre to probe into the Adani-Hindenburg controversy.

A bench headed by Chief Justice of India D.Y. Chandrachud and comprising Justices P.S. Narasimha and J.B. Pardiwala delivered the order on a batch of petitions filed by advocates Vishal Tiwari, M.L. Sharma, Congress leader Jaya Thakur, and one Anamika Jaiswal.

The top court said the committee will consist of O.P. Bhat, Justice J.P. Devadhar (retired), K.V. Kamat, Nandan Nilekani and Somasekhar Sundaresan.

The bench added that the expert committee will be headed by retired justice Abhay Manohar Sapre, former judge of the Supreme Court.

The committee will provide an overall assessment of the situation and the causal factors led to the volatility in the security markets. The committee will suggest measures to strengthen investors’ awareness and also investigate whether there has been regulatory failure in the alleged contravention of laws pertaining to the securities markets in connection with Adani group or other companies, it added.

On February 17, the Supreme Court had said it would not accept sealed cover names of experts suggested by the Centre for inclusion on the committee to be set up to examine Hindenburg report, which resulted in crashing of Adani group company share prices and caused massive loss to investors.

The top court had said the court will select experts and maintain full transparency, and if the court were to take names suggested by the central government, then it would amount to a government constituted committee.

The bench added that the court wants full transparency for protection of interest of investors and it will form a committee so that there is a sense of confidence in the court.

On the aspect of the remit of the committee, Solicitor General Tushar Mehta, representing the Centre, submitted that there should be a holistic view and no unintended impact is caused in the security market. The bench orally observed that it cannot be denied that investors have lost a lot.

Mehta added that “so far as your lordship’s suggestion that a former judge should sit on it, we don’t mind”.

In a written response, the central government had told the Supreme Court that the “truthfulness” of allegations made by a US short seller against the Adani Group should be examined and a fact-finding exercise required to be undertaken as a one-time measure and without making it a precedent.

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At Navkar Mahamantra event, PM Modi’s special gesture in the spotlight

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New Delhi, April 9: Prime Minister Narendra Modi inaugurated and participated in the Navkar Mahamantra Divas programme at Vigyan Bhawan on Wednesday. He spoke highly of the spiritual experience of the Navkar Mantra and also emphasized its ability to bring peace and stability to the mind.

However, what caught everyone’s attention and also earned all-round admiration was PM Modi’s special gesture at the event.

PM Modi walked into the Vigyan Bhawan, the venue for the Navkar Mahamantra Divas programme, without any footwear as a mark of reverence. He also shunned the dais and chose to sit among the people. This heartfelt gesture of PM Modi won the hearts of people present there.

Notably, PM Modi has broken the protocol at earlier occasions also to show solidarity with the common people and make them feel like a family.

Addressing the Navkar Mahamantra event, PM Modi extolled the Jain dharma and described ‘Jain literature as the backbone of intellectual glory of India’.

He also proposed nine resolutions on the Navkar Mahamantra Divas and also urged everyone to adopt them, after collective chanting of Navkar Mantra.

He proposed ‘water conservation’ as the first resolution and recalled the words of Buddhi Sagar Maharaj Ji, who predicted 100 years ago that water would be sold in shops. He emphasized the need to value and save every drop of water.

‘Ek Ped Maa ke Naam’ was the second resolution, where he highlighted the importance of planting trees and urged everyone to plant a tree in their mother’s name.

Other resolutions that he stressed upon and urged everyone to imbibe in their lives included — Cleanliness Mission, Vocal for Local, Explore India, Adopting Natural Farming, Healthy Lifestyle, Incorporating Yoga and Sports.

He proposed ‘Helping the Poor’ as the ninth and final resolution, saying that assisting the underprivileged is the true essence of service.

PM Modi emphasised that these resolutions align with the principles of Jainism and the vision of a sustainable and harmonious future.

“These nine resolutions will infuse new energy into individuals and provide a fresh direction to the younger generation. Their implementation will foster peace, harmony, and compassion within society,” he added.

Notably, the Navkar Mahamantra Divas is a momentous celebration of spiritual harmony and ethical consciousness that seeks to unite people through the collective chanting of the Navkar Mahamantra — the most revered and universal chant in Jainism.

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All wings of CBI in Kolkata to be under one roof soon

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Kolkata, April 9: The Central Bureau of Investigation (CBI) has now decided to bring the offices of all its wings in Kolkata under the same roof.

Sources aware of the development said that the decision has been taken to ensure better inter-departmental coordination.

Currently, the offices of the four wings of the CBI in Kolkata, namely the Anti-Corruption Branch, Special Crime Branch, Economic Offenses Wing, and the bank securities and fraud branch, operate from two separate offices.

The first is at Nizam Palace in central Kolkata, and the second is at the Central Government Office (CGO) complex at Salt Lake on the northern outskirts of Kolkata.

However, sources said, all four wings of the central office will now operate from a 14-storey building at New Town, also on the northern outskirts of Kolkata. Four floors in the new building have been allotted to the CBI.

Sources said that work has already started on shifting documents and gadgets from the Nizam Palace and CGO Complex offices to New Town.

The aim is to start operating from the new office by this month or maximum by next month.

Currently, the different wings of the CBI, especially those sleuths attached to the Anti-Corruption Branch, Special Crime Branch, Economic Offenses Wing are burdened with too many high-profile cases in West Bengal namely the cash-for-school jobs probe, municipalities’ recruitment irregularities case, ration distribution scam, and R.G, Kar rape-murder case, among others.

Certain cases, like those related to the R.G. Kar incident, are handled by officers of two different departments of the CBI.

While the sleuths of the Special Crime Branch are investigating the aspect of rape and murder and the possibility of a larger conspiracy behind the mishap, the officers of the Anti-Corruption Branch are probing the case of alleged financial irregularities at R.G. Kar.

So in such a situation, added sources, it was necessary to bring the offices of all the wings under the same roof to attain larger inter-departmental coordination, and precisely keeping that in mind the decision was taken to shift to a new office at New Town.

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LS Speaker reprimands Sonia Gandhi over Waqf bill ‘bulldozed’ remarks

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New Delhi, April 4: Lok Sabha Speaker Om Birla on Friday reprimanded former Congress president Sonia Gandhi over her remarks that the Waqf (Amendment) Bill was bulldozed through the Parliament.

Taking strong objection to her claims of Waqf Bill passed ‘forcefully’ in the House, Om Birla termed the comments as ‘unfortunate’ and said that the allegations by senior Congress member was a violation of the democratic norms of the Parliament.

The Speaker noted that the bill was discussed for 13 hours and 53 minutes, with every party participating in the debate and followed by three rounds of voting but despite that Congress member was making such allegations.

“Three rounds of voting were conducted, and the Bill was passed according to the rules of the House. It is unfortunate that, despite following all the parliamentary procedures, such allegations are being made. This is not in line with the democratic norms of Parliament,” Speaker said.

Om Birla’s objection to Sonia’s claims of Waqf bill ‘bulldozed through’ the Parliament came after Parliamentary Affairs Minister Kiren Rijiju raised the matter in Lok Sabha today.

Rijiju, alluding to Congress RS MP Sonia Gandhi, said that extensive discussions took place in both the Houses over the Waqf bill, still the Opposition was making ‘baseless and absurd’ claims that the bill was passed with force.

He also demanded that the Speaker issues an “appropriate order” in response to these remarks.

Rijiju also highlighted that the Waqf reform debate broke the previous record of longest discussion in the Rajya Sabha.

“The previous record for a long discussion in the Rajya Sabha was during the ESMA (Essential Services Maintenance Act) discussion in 1981, which lasted for 16 hours and 51 minutes. Yesterday, this record was broken with a 17-hour and 2-minute discussion, making it the longest debate so far,” he informed the House.

A day ago, after Lok Sabha passed the Waqf Bill after marathon debate, Sonia Gandhi made her displeasure over the amendments known to party leaders, while addressing the Congress Parliamentary Party (CPP) meet yesterday. She stated that the bill was bulldozed through the House and termed it a brazen assault on the Constitution.

“Yesterday, the Wakf Amendment Bill, 2024 was passed in the Lok Sabha and today it is scheduled to come up in the Rajya Sabha. The bill was in effect bulldozed through. Our party’s position is clear. The Bill is a brazen assault on the Constitution itself,” she said.

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