National News
Congress Leader Jairam Ramesh Demands Strict Action Against Adani-Related Entities
The Congress Wednesday said a “cover-up” is in the making after reports claimed entities connected to the Adani Group have approached the SEBI seeking settlement in a case that alleges violations of public shareholding norms through unfair practices.
It asserted the “scam” requires serious punitive action, including arrests and raids by investigative agencies.
Congress general secretary in-charge communications Jairam Ramesh said a token settlement would make Indian institutions a laughing stock whose reputation has already been tarnished by the actions of Prime Minister Narendra Modi and “his cronies”.
His remarks come amid reports that several entities connected to Adani Group have approached the Securities and Exchange Board of India (SEBI) seeking settlement in a case that alleges violations of public shareholding norms through unfair practices at four listed companies of the infrastructure conglomerate.
“A cover-up is in the making. Reports that opaque offshore entities and individuals linked to the Adani Group — whose activities have been exposed by successive reports in the public domain — have offered to settle serious allegations of violations of securities laws for token amounts is a clear indicator of this,” Ramesh said in a statement.
These reportedly involve investments in four companies, Adani Enterprises, Adani Power, Adani Energy Solutions and Adani Ports and SEZ, he said.
“While any settlement would be proof of guilt, which vindicates our ‘Hum Adani Ke Hain Kaun’ campaign, it also appears to be heading towards a light slap on the wrist under the direct patronage of the PM,” the Congress general secretary said.
“The Adani Mega Scam requires serious punitive action, including arrests and raids by investigative agencies which has been the norm with all those who are not close friends and financiers of the prime minister. We urge SEBI to take the strictest action against these entities,” Ramesh said.
He further said that another reason for concern is the conflicts of interest of SEBI chairperson Madhabi Puri Buch who invested in the opaque offshore funds that have been accused of facilitating the violations of these very laws via benami investments.
“Far from resigning or being removed, she is now in a position to make a settlement with those whom she has been protecting all along,” Ramesh said.
“The violations are not simply of public shareholding norms; there is plenty of evidence that the money used to pump up Adani Group share prices was laundered by over-invoicing of thousands of crores of coal and power-equipment imports,” he alleged.
Adani-linked middlemen Chang Chung-Ling and Nasser Ali Shaban Ahli built up benami stakes of 8-14 per cent in these firms using shell companies in locations such as Mauritius, the UAE and the British Virgin Islands, he claimed.
The Congress has stepped up its attack on the Adani Group and the government after Gautam Adani, the founder chairman of the ports-to-energy conglomerate, his nephew Sagar and another key executive were charged by the US Department of Justice of being part of an alleged scheme to pay USD 265 million bribes to the Indian officials to win contracts for the supply of solar electricity that would yield USD 2 billion profit over a 20-year period.
The Adani Group has denied all allegations as baseless.
The Congress has been demanding a joint parliamentary committee probe into the Adani issue over allegations in India and abroad.
The opposition party has said that Adani’s indictment in a US court on bribery and fraud charges “vindicates” its demand for a JPC investigation into the various “scams” involving the billionaire industrialist’s conglomerate. Gandhi has sought Adani’s immediate arrest.
Business
Scams in UPA regime dragged down GDP growth rate to 5.6pc in 2012-13: BJP
New Delhi, Feb 7: The BJP has slammed the Congress for its primary claim of enabling “7.6 per cent growth”, pointing out that this was effectuated by the global economic boom between 2004-08 and conceals the decline to 5.6 per cent in 2012-13, caused by corruption and fiscal mismanagement.
The BJP’s factsheet highlights that the average growth rate during the 10 years of UPA (2004-2014) was restricted to 6.8 per cent compared to NDA’s 8.4 per cent average (2014-2024).
The UPA relied on reckless borrowing, leading to a ballooning current account deficit and 9.3 per cent inflation. On the other hand, despite the Covid pandemic and the Russia-Ukraine conflict, India’s GDP growth for 2024-25 is projected at 6.4 per cent, the highest among major economies, the factsheet states.
It cites the Economic Survey 2024-25 projection of a 6.3-6.8 per cent growth rate for FY25-26, in line with other financial bodies such as the IMF.
The rise in digital transactions from 2.2 billion in 2013-14 to over 208.5 billion in 2024, driven by Digital India, and the opening of 500 million bank accounts under PMJDY showcase inclusive economic growth, according to the BJP factsheet
It also mentions the JAM Trinity (Jan Dhan, Aadhaar, Mobile Network) ensured DBT payments of Rs 27,442.08 crore were made between March 24 and April 17, 2020 (24 days) during peak Covid-19 to 11.42 crore beneficiaries.
It also cites the Economic Survey 2024-25 for showing Financial Inclusion Index rose from 53.9 in 2021 to 64.2 in 2024 as an indicator of growth with equity.
The factsheet states that in “a resurgent India under Prime Minister Narendra Modi-led government, as many as 24.82 crore people have risen out of multidimensional poverty between 2014-15 and 2022-23”.
In contrast, the UPA government triggered one of India’s worst non-performing asset (NPA) crises in the banking sector. The ‘phone-a-loan’ scam under UPA led to a surge in bad loans, crippling businesses and financial institutions, the factsheet states.
By 2018, NPAs reached a staggering 11.6 per cent of gross advances, with the root cause traced back to bad lending decisions made between 2008-2014. High-profile defaulters like Nirav Modi, Vijay Mallya, and Mehul Choksi flourished under the lax regulatory environment of the UPA era, it observes.
Besides, the lack of a robust bankruptcy framework left struggling businesses with no structured exit mechanism, which was only brought in in 2016 with Insolvency and Bankruptcy Code (IBC) 2016, the BJP factsheet added.
Crime
Love or a trap? Cyber Police warns against romance scams this Valentine’s Week
Ranchi, Feb 7: As Valentine’s Week starts with promises of love, roses, and heartfelt commitments, cybercriminals are also gearing up to exploit emotions for financial fraud.
Amidst the celebration of romance, authorities are stepping up efforts to protect people from falling victim to “romance scams.”
To counter these digital deceptions, the Indian Cyber Crime Coordination Centre (I4C), under the Union Home Ministry, has launched a special awareness campaign on social media, running parallel to Valentine’s Week.
Using the hashtag #RomanceScamPreventionWeek, officials are spreading crucial information to help people identify and avoid online scams disguised as love.
The Jharkhand Police has also joined the initiative, posting alerts on its official social media handles. One of the campaign’s eye-catching posters, shared on the I4C X handle, poses a thought-provoking question: “What will you do if your online sweetheart asks you for money?”
The post further warns: “This romance season, don’t get duped in the name of love! Join Cyber Dost in Romance Scam Prevention Week and learn how to outsmart scammers.”
Authorities are urging people to stay vigilant and report fraud immediately by calling 1930 or lodging a complaint at cybercrime.gov.in.
A cyber police officer in Ranchi highlighted a recent case where a woman fell prey to a romance scam. She met a man through a matrimonial site, exchanged numbers, and began building a connection. The man planned a visit to Ranchi, but just before their meeting, he claimed he was detained at Delhi airport and needed urgent financial help. Believing his story, she transferred Rs 7 lakh — only to realise later that his profile had vanished without a trace.
With online romance on the rise, the cyber police’s message is clear — Trust your heart, but verify with your mind. Don’t let emotions cloud your judgment — because in the digital world, not every love story is real.
Maharashtra
‘We don’t laugh at the same joke again and again’: Fadnavis takes dig at Rahul Gandhi
Nagpur, Feb 7: Maharashtra Chief Minister Devendra Fadnavis on Friday hit back at Congress MP and Leader of the Opposition in the Lok Sabha, Rahul Gandhi, after he raised concerns over the rise in voter numbers during the Maharashtra Assembly elections.
Taking a swipe at Gandhi, Fadnavis said, “Rahul Gandhi is firing cannonballs in anticipation of his party’s defeat in the Delhi elections. After the Delhi results, Congress will be wiped out. He is simply practicing how to spin a new narrative. But we don’t laugh at the same joke over and over again.”
Dismissing Gandhi’s concerns over voter numbers, Fadnavis added, “The Election Commission has already provided all answers regarding voter lists — where names were added, where they were deleted — so there’s no need for further clarification. Rahul Gandhi knows the Delhi results will be a disaster for Congress, so he’s preparing his script in advance.”
He further criticised the Congress leader, saying, “As long as Rahul Gandhi keeps avoiding real introspection and instead focuses on misleading statements, there is no possibility of a Congress revival.”
Fadnavis’ remarks came after Rahul Gandhi, joined by Shiv Sena (UBT) MP Sanjay Raut and NCP (SP) MP Supriya Sule, at a press conference in Delhi on Friday questioned the Election Commission of India (ECI) on how 9.7 crore votes were cast when Maharashtra’s adult population stands at 9.4 crore. Gandhi clarified that the opposition was not making accusations but was merely demanding transparency in the voters’ list.
However, his comments drew sharp criticism from the ruling BJP and its allies.
Shiv Sena Parliamentary Party chief Shrikant Shinde demanded a public apology from Rahul Gandhi, stating, “He must apologize not just to Maharashtra but to the entire nation for his reckless remarks. He should accept the will of the voters with humility instead of habitually trying to discredit India’s electoral integrity for short-term political gains.”
Shinde further asserted, “Maharashtra witnessed its highest voter turnout in 30 years, a testament to the strength of our democracy. Full credit goes to the Election Commission and Maharashtra’s Chief Electoral Officer for ensuring a free and fair election.”
Mumbai BJP chief and state IT Minister Ashish Shelar accused Rahul Gandhi of indulging in “public melodrama” instead of reflecting on Congress’ defeat. “Rahul Gandhi and the Congress are still reeling from Maharashtra’s rejection,” he said.
Maharashtra BJP president and state Revenue Minister Chandrashekhar Bawankule expressed similar sentiments, stating, “The Congress and its allies have not recovered from the shock of their crushing defeat. Instead of accepting the people’s verdict, they are casting doubt on voter turnout. The Election Commission has repeatedly clarified the increase in voters, yet they continue to make misleading allegations, undermining democracy.”
Bawankule also linked Gandhi’s remarks to the upcoming Delhi Assembly election results, saying, “As the inevitable defeat looms, he is trying to shift focus to Maharashtra’s election process. This is nothing but desperation.”
Taking a further jab, he remarked, “Supriya Sule, who sat next to him at the press conference, had previously said, ‘I won on this EVM.’ But Rahul Gandhi, who thrives on political stunts, refuses to acknowledge the truth. Rahulji, believe in democracy — stop defaming it with baseless allegations. The people have already seen through your lies.”
NCP chief spokesperson Anand Paranjape also dismissed Gandhi’s claims, attributing them to Congress’ fear of an impending defeat in Delhi.
“Since the Census has not been conducted yet, some discrepancies between the population and voter lists are expected. Moreover, the increase in voter numbers between Lok Sabha and Assembly elections is natural, as all parties push for new voter registrations. The Election Commission has also increased the number of polling stations, which further explains the rise in voter turnout,” he explained.
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