Business
Supreme Court upholds delisting of ICICI Securities

New Delhi, May 28: The Supreme Court on Wednesday upheld the delisting of ICICI Securities from the stock exchanges, rejecting a plea by an individual investor who challenged the share valuation process as being unfair.
The investor, Manu Rishi Gupta, had questioned the delisting on the ground that a reverse book building mechanism might have resulted in a better price for shareholders.
ICICI Securities was delisted in March last year, and it became a wholly-owned subsidiary of ICICI Bank.
Gupta’s counsel contended in the apex court that the delisting of ICICI Securities was done in an opaque and rushed manner and termed it “shocking”.
The counsel for ICICI Securities informed the Supreme Court that Gupta continued to indulge in buying and selling of shares of ICICI Securities, including as recently as August 2024 which undermined his claims of unfair treatment.
Nearly 72 per cent of shareholder votes were cast in favour of the scheme of arrangement for the merger of ICICI Securities with its promoter ICICI Bank, the private sector lender had stated in a regulatory filing with the stock exchanges.
The voting was conducted after a National Company Law Tribunal (NCLT) directive in February 2024, which mandated a shareholder meeting to approve the plan. The meeting was attended by 161 equity shareholders including authorised representatives.
Earlier, in March this year, the National Compay Law Apellate Tribunal (NCLAT) had upheld the delisting of ICICI Securities Ltd from the stock exchanges, dismissing the pleas filed by shareholders Quantum Mutual Fund and individual investor Manu Rishi Gupta against the move.
Quantum Mutual Fund had approached NCLAT in September to oppose ICICI Securities’ delisting, citing concerns over its impact on minority shareholders. Earlier, the Ahmedabad bench of the National Company Law Tribunal (NCLT) had approved the delisting, dismissing the fund’s objections.
ICICI Securities in June 2023 announced its plan to delist and merge with its parent company, ICICI Bank Ltd. Shareholders approved the plan in March 2024. As part of the delisting, Under the proposed share-swap arrangement, shareholders were to receive 67 shares of ICICI Bank for every 100 shares of ICICI Securities.
International
Israeli military announces killing Hezbollah commander in Lebanon

Tel Aviv, June 19: The Israel Defence Forces (IDF) on Thursday announced that it had eliminated Yassin Abdel Menam Ezz al-Din, the commander of the artillery in the Litani sector of Hezbollah in Lebanon.
“Yesterday, the IDF attacked and eliminated, using aircraft, in the Barish area in southern Lebanon, the terrorist, Yassin Abdel Menam Ezz al-Din. The terrorist had launched numerous firing lines toward the north of the country during the war and engaged in attempts to rehabilitate the artillery forces of the terrorist organisation Hezbollah. Yassin Abdel Menam Izz al-Din’s actions constituted a blatant violation of the understandings between Israel and Lebanon,” the IDF said in a post on X.
The IDF asserted that it continues to monitor and thwart attempts by the “terrorist organisation Hezbollah to promote readiness to harm the State of Israel under the auspices of the war with Iran,” and will continue to work to eliminate any threat to the citizens of the State of Israel.
In a separate development, the IDF also mentioned that it had demolished the home of Samer Hussein, who carried out a shooting attack at the Gitti Avishar intersection in November 2024 in Ariel (West Bank).
“Engineering forces from the Samaria Brigade operated last night in the village of Einabus to demolish the home of terrorist Samer Hussein, who carried out a shooting attack at the Gitti Avishar intersection in Aerial. The attack injured 5 Israeli civilians and 4 soldiers,” the IDF posted on X.
The military reports that Samer Hussein was associated with Hamas. In November 2024, he opened fire on a bus and a bus stop where several soldiers were present. The attack resulted in injuries to nine individuals: three suffered serious injuries, one was moderately injured, and five had minor injuries, including four soldiers.
“The security establishment, with the backing of legal authorities, decided to demolish the terrorists’ home as part of the deterrence policy, according to which anyone who carries out an unusual terrorist attack, even if no one is killed, will have their home demolished. The IDF will continue to act to thwart terrorism in Judea and Samaria and to bring to justice terrorists who have acted to harm civilians or security forces,” the post added.
International
Iran ballistic missile hits hospital in Israel, dozens injured

Tel Aviv, June 19: An Iranian ballistic missile struck Soroka Hospital in Israel’s Beersheba, seriously injuring several patients, doctors, and staff as the conflict entered its seventh day on Thursday.
“Soroka Hospital in Beersheba — where Jews, Muslims, Christians, and Arab Bedouin receive care — was just hit by an indiscriminate Iranian ballistic missile. Israel will continue to do what must be done to protect all its people, from all walks of life,” the Israel Foreign Ministry said in a post on X.
According to the Israeli Defense Forces (IDF), Iran fired around 30 ballistic missiles at Israel on Thursday, and one of them struck the hospital in Beersheba.
President of Israel, Isaac Herzog, took to his social media to narrate the horrific scenes in the hospital after the attack on the civilians.
“A baby in intensive care. A mother by their bedside. A doctor rushing between beds. An elderly resident in a nursing home. These were some of the targets of Iran’s missile attacks on Israeli civilians this morning. Soroka Hospital, located in Be’er Sheva, is one of Israel’s finest — serving the entire Negev region, caring for Israelis of all faiths and our neighbours the Palestinians who come especially to be treated there. Its devoted staff — Jews and Arabs — work side by side in extraordinary harmony, united by the mission to heal,” the President posted on X.
“I send strength and support to the medical teams, to the patients, and to the residents of Be’er Sheva and all cities attacked across Israel this morning. In moments like these, we are reminded of what’s truly at stake and the values we are defending,” the post added.
Condemning the attack on the hospital, Israeli Prime Minister Benjamin Netanyahu said, “This morning, Iran’s terrorist tyrants launched missiles at Soroka Hospital in Beersheba and at a civilian population in the centre of the country. We will exact the full price from the tyrants in Tehran.”
Israeli Foreign Minister Gideon Sa’ar criticised the Iranian regime, stating that it intentionally attacks the civilian population.
“The Iranian regime fired a ballistic missile at a hospital. The Iranian regime deliberately targets civilians. The Iranian regime is committing war crimes. The Iranian regime has no red lines,” the Foreign Minister said in a post on X.
Israeli Deputy Foreign Minister Sharren Haskel slammed Iran’s “deliberate” and “criminal” activities and posted, “Iran just hit Soroka Hospital in Be’er Sheva with a ballistic missile. Not a military base. A hospital. This is the main medical centre for Israel’s entire Negev region. Deliberate. Criminal. Civilian target. The world must speak out.”
The conflict erupted last Friday when Netanyahu announced the launch of ‘Operation Rising Lion’ against Iran, a targeted military operation to roll back the Iranian threat of nuclear weapons to Israel’s survival.
National
Kashmiri students safely back to Delhi from Iran, flag poor bus quality to reach home in J&K

Srinagar, June 19: Ninety-four students belonging to Jammu and Kashmir were evacuated from Iran and reached Delhi safely. While they thanked the Centre for the help, the students expressed displeasure over the buses provided by the Omar Abdullah government to take them home from the national capital.
After they boarded the buses for J&K in Delhi, some students posted pictures alleging the poor quality of buses made available to them to return home in the union territory.
Following these complaints, office of J&K chief minister, Omar Abdullah said on X, “The Chief Minister has taken note of the request of the students evacuated from Iran regarding the quality of buses arranged to transport them from Delhi to J&K. The Resident Commissioner has been tasked with coordinating with the JKRTC to ensure proper deluxe buses are arranged.”
CM Omar Abdullah earlier said on X, “94 of our students evacuated from Iran have safely reached Delhi. Govt is making transport arrangements for their smooth journey home, which will be in place within the next few hours”.
The CM had earlier spoken to Foreign Affairs Minister S. Jaishankar, requesting the safety of J&K students stuck in Iran.
Kashmiri Shia leader and MP, Aga Syed Ruhullah, had said earlier that Israel had hit a hostel occupied by Kashmiri students, and some students sustained minor injuries in that strike.
The MEA has made arrangements to evacuate all Indian students from Iran and also ensure the safety of Indian professionals engaged in various professions as doctors, engineers, etc., in Iran.
A good number of Kashmiri students are studying medicine in Iran. The Valley has a sizeable Shia Muslim population with close religious affinity with the predominantly Shia Muslim majority of Iran.
Most of the Shia scholars of Kashmir have had their religious learning in Iran. Both Sunni and Shia Muslim religious leaders of Kashmir have condemned Israeli strikes against Iran.
They have called for the immediate cessation of hostilities from both sides. Iran and Israel are locked in the worst hostilities against each other, and both countries have carried out missile strikes against civilians.
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