Business
Adani’s world’s biggest coal basin heads for export amid protests

Just six weeks after the Glasgow climate summit (COP26), where the world agreed to phase down coal, Australia is opening the world’s biggest new coal basin, the Galilee Basin in Queensland.
Coal giant Adani is commencing its first exports of coal from the Carmichael mine.
Adani says the first coal for export is “being assembled” at its coal port in Bowen, the North Queensland Export Terminal. Adani plans for the mine to be Australia’s biggest, but has faced 10 years of opposition from Wangan and Jagalingou traditional owners and climate campaigners.
Responding to the development, Joseph Sikulu, 350.org Pacific Coordinator, recently returned from COP26, says: “Just last month I was at the Glasgow climate summit when global governments pledged to phase down coal. Adani is doing the opposite of this agreement.
“Adani and the governments who enabled them are throwing a wrecking ball at global efforts to protect the Pacific from the impacts of climate change. But we won’t let them, we stand in solidarity with the Wangan and Jagalingou people.
“We are in the fight of our lives to stop dangerous climate change. We simply cannot afford for Adani’s mine to expand to 60 million tonnes per year. We will fight to keep every single tonne of coal in the ground where it belongs.”
Julien Vincent, Executive Director of Market Forces said: “People power has kept tens of millions of tonnes of Adani’s coal in the ground. We’ll keep fighting to prevent as much climate-wrecking coal from being mined and burned by Adani as we can.
“At this point in the climate crisis, every tonne of coal counts if we are to avoid catastrophic climate impacts like mega fires and superstorms. Adani plans to pour fuel on the fire, continuing to build the Carmichael mine to be Australia’s biggest, as well as new coal mines and plants overseas.
“We’re so close to denying Adani a critical source of finance it needs to be able to keep running the Carmichael mine: insurance. Over 100 companies have walked away from this disastrous project so far. If we keep pushing, we can stop it, permanently.”
On opposition to Adani’s mine, Adrian Burragubba, Senior Elder and spokesperson for the Nagana Yarrbayn, Wangan and Jagalingou Cultural Custodians, said: “Wangan and Jagalinagou people first said no to Adani’s mine in 2012, and we continue to say no. Adani has never had free prior and informed consent from the Wangan and Jagalingou people.
“We will continue to resist Adani’s coal mine, practice our culture, and assert our human rights as the first nations people of this country. We are not going away: this is our land and we have human rights.”
Wangan and Jagalingou people have been conducting the cultural ceremony Waddananggu for over 120 days on Wangan and Jagalingou country and Adani’s mining lease.
“This Ceremony will continue and our Human Rights to practice ceremony on the country must be respected,” Burragubba added.
Business
SEBI confirms ban on LS Industries and key individuals amid fraud probe

Mumbai, May 31: The Securities and Exchange Board of India (SEBI) has confirmed the suspension of LS Industries, its promoter Profound Finance, and four other individuals from participating in the securities markets.
The action comes as part of an ongoing investigation into allegations of fraudulent activities and manipulation of the company’s share price.
The individuals barred include Jahangir Panikkaveettil Perumbarambathu, the promoter of Profound Finance, as well as Suresh Goyal, Alka Sahni, and Shashi Kant Sahni HUF, a Dubai-based NRI shareholder of LS Industries.
SEBI has extended the deadline for completing the investigation until November 15 and has directed all involved parties to cooperate fully with the inquiry.
Back in February 2025, SEBI had issued an interim order banning LS Industries and its associates from trading in the stock market due to suspicious activities.
The regulator also ordered Perumbarambathu to return illegal gains of Rs 1.14 crore that he allegedly earned through the sale of shares under the suspected scheme.
SEBI ‘s probe centres on LS Industries and its associates being involved in a scheme to artificially boost the company’s share price.
Despite having reported almost no revenue for three consecutive financial years (FY22 to FY24) and the first three quarters of FY25, the company’s stock surged dramatically.
Between July 23 and September 27, 2024, the share price skyrocketed from Rs 22.50 to Rs 267.50 — raising the company’s market valuation to an eye-popping Rs 22,700 crore.
This sharp rise in share price occurred without any improvement in the company’s financial performance, raising red flags.
SEBI’s interim findings noted dubious transfers of shares to Perumbarambathu and unusual trading patterns by some individuals.
The regulator stated that these factors strongly suggested a deliberate plan to mislead investors and manipulate the stock.
SEBI emphasised that it appeared, on the surface, that LS Industries and the other parties were involved in a coordinated effort to deceive the market.
“The investigation is ongoing, and the parties will remain barred from market activities until its conclusion,” the market regulator stated.
Crime
Woman drug supplier arrested in Delhi’s Mangolpuri; ganja seized

New Delhi, May 31: A woman drug supplier was arrested from Delhi’s Mangolpuri area and 427 grams of ganja was recovered from her possession, police said on Saturday.
The accused was identified as ‘M’. The arrest comes amid the Delhi Police’s ongoing crackdown on narcotics under its ‘Zero Tolerance’ policy and the broader objectives of the Nasha Mukt Bharat Abhiyan (NMBA).
Acting on a tip-off received by Constable Bajrang of Police Station Mangolpuri that a female was allegedly in possession of ganja, a raid was conducted at the specified location.
Constable Bajrang and a female staff member observed a suspicious female carrying a white polythene bag.
“On noticing the presence of police personnel, the suspect attempted to hide. However, the alert police team, with the assistance of a female staff namely W/HC Pooja, swiftly apprehended her,” said Sachin Sharma, Deputy Commissioner of Police, Outer District, New Delhi.
A polythene bag containing 427 grams of ‘ganja’ and Rs 1,470 in cash was recovered from the possession of the accused.
The accused was booked under Section 20(A) of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985 at Police Station Mangolpuri.
Further investigation is underway to identify and apprehend other associates involved in the illegal drug trade, the police said.
In another case on May 29, the Anti-Narcotics Task Force (ANTF) of the Delhi Police Crime Branch arrested Jameel Ahmad, the alleged mastermind of a major drug trafficking syndicate. Ahmed has been absconding for six years.
The case dates back to June 2019, when the then Narcotics Cell (now ANTF) of the Crime Branch seized 500 kg of ganja from a truck at Metcalfe Bus Stand, Kashmere Gate.
Three persons — Aslam Khan and Mausam Khan, both from Nuh district in Haryana, and Jakam Khan from Alwar, Rajasthan — were arrested in connection with the consignment, who revealed that they had committed the crime at the behest of Ahmed.
National
Delhi records wettest May; IMD issues ‘Orange Alert’ for today

New Delhi, May 31: Delhi recorded a minimum temperature of 34.8 degrees Celsius on Saturday morning, marking one of the warmer days of the season. However, despite the high morning temperature, this May has been unusual in many ways, including below-normal daytime temperatures, unprecedented frequent rains, and the absence of any heatwave conditions.
In terms of rainfall, May 2025 has been historic for Delhi, with the capital receiving 188.9 mm of rainfall, the highest-ever rainfall recorded in the month of May. This is over 202 per cent more than the normal monthly average of 62.6 mm. In contrast, May 2024 saw just 0.4 mm of rain, which was 99 per cent below average, with not a single rainy day recorded.
According to the India Meteorological Department (IMD), this is only the third time in the last five years that Delhi has seen the mercury stay below 40 degrees Celsius throughout May. Not a single day this month recorded conditions severe enough to be classified as an intense heatwave, making it a rare exception in the typically scorching summer month.
The current spell of unusual weather is being attributed to the early arrival of the monsoon in Mumbai, which has had a ripple effect on weather systems in northern India, including Delhi. However, meteorologists have clarified that the monsoon has not yet arrived in the national Capital, even though conditions have turned significantly cooler and wetter.
The IMD has issued an ‘Orange Alert’ for Delhi-NCR tonight, warning residents to stay alert as thunderstorms and heavy rain are likely. An ‘Orange Alert’ signals potentially disruptive weather, and people are advised to prepare for sudden changes in conditions.
The forecast suggests rain accompanied by thunder and strong winds will continue across Delhi and surrounding areas till June 4. A ‘Yellow Alert’ is also in place for Saturday, with the possibility of rain showers at any time during the day.
Meanwhile, the Air Quality Index (AQI) stood at 167, placing it in the ‘moderate’ category, according to the Central Pollution Control Board (CPCB).
The AQI scale defines values between 101–200 as ‘moderate,’ while 201–300 is ‘poor,’ and 301–400 is considered ‘very poor’.
With unpredictable weather continuing, Delhi people are advised to remain cautious and plan accordingly as the city experiences one of its most unusual Mays in recent history.
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