SC upholds SEBI probe , turns the spotlight on Hindenburg’s ‘ conduct
The SC Wednesday given verdict over Hindenbuerg report and fall in Adani shares there after .
The SC trained the “ spotlight” on Hindenbuerg “ conduct “ of abindenberg Research , directing Security and Exchange Board of India ( SEBI ) and investigative agency of center to probe , and if necessary take “ suitable action “ if the losses suffered by Indian investors after Hindenbuerg report involved any infraction of law .
The 46 page Judgment has following key points :
● Three Judge Bench headed by CJI DY Chandrachud said that volatility in the aftermath of the Hindenberg report has impact only on individual scale and did not result in market volatility .
● The Judgement said that the investigation conducted by SEBI “ inspires confidence “ and was prima facie “ comprehensive “ , the market regulator had already completed 22 out of 24 investigations in the group . The court ordered SEBI to complete the investigation in two remaining cases within three months .
● The judgment refused to accept Petitioner contention that SEBI’s amendment in Foreign Portfolio Investors Regulations and Listing Obligations ( LODR ) Regulations has been an exercise in “ first opening a loophole and then plugging the loophole , with deferred effect “ and has now affected the regulators investigation .
● The court rubbished the petitioners reliance on finding of Organised Crime and Corruption Reporting project that Adani Group manipulated it’s shares prices through two Mauritius based funds and critical newspaper reports on SEBI investigation . Court said that no effort was made to verify authenticity of these reports .
● Supreme Court refused to transfer the case to CBI or any Special Investigation Team ( SIT ) .
Who said what ?
Congress – Jairam Ramesh SC’s decision to not transfer the case to CBI or SIT as “very generous “ . He questioned extension of term of SEBI for three more months in 2 cases .
Gautam Adani – “ Truth has prevailed , Satyameva Jayate “ .
Timeline
● January 24 , Hindenburg published report alleging that Adani Group had manipulated share prices.
● February – PIL filed in Supreme Court for a direction set to set up a committee led by retired judges to be investigate allegations.
● March – SC asks SEBI to probe within two months , which was later extended till August 14 .
Modi launches internet project in Lakshadweep
The Prime Minister Narendra Modi on Wednesday inaugurated Kochi Lakshdeweep submarine optical fibre cable project , implemented at a cost of ₹1072 crore .
The 1868 km cable will allow telecom companies to provide 4G , 5G services and high speed broadband for the first time in the Archipalegeo .
The cable has been laid by BSNL , while the project was executed by Japanese firm NEC .
Transport workers likely to intensify protest on BNS
The all India Road Transport workers , Federation a platform of various trade platforms , trade Union’s and drivers has warned that it will intensify protest if govt does not withdraw section 104 (1) and (2) of Bahrtiya Nyay Samhita act .
The Center of Indian Trade Union ( CITU ) , in a statement on Wednesday supported , the agitations against ( BNS) immediately .
The Union Home Ministry is in talk with truck drivers and owners and has told that the provisions will not be implemented without exclusive consultation .
Mahua fails to get interim relief from SC over LS ouster
Supreme court on Wednesday gave three weeks to Secretary General Lok Sabha , to file reply in case of ouster of Mahua Moitra from Lok Sabha .
But the court didn’t allow her immediate interim relief of participating in the house sessions.
Kejriwal skips ED summons , AAP sees conspiracy to arrest him
Arvind Kejriwal skipped third summon by Enforcement Directorate ( ED ) to appear before the agency for questioning in Delhi Excise Policy scam .
Mr. Kejriwal wrote a letter to ED , reiterating that summon was “ motivated “ , and appeared to be a “ fishing exercise “.
Exercise restraint , do not summon govt officials at the drop of a hat : SC to HCs
SC in Wednesday issued official Guidelines so that the govt officials are not called to courts at the drop of a hat .
● Judges should not bellittle officials on the ground of their clothing or physical appearance etc .
● Court should not summon official merely because the affidavit didn’t agree with the views held by Judge.
● Court can seek personal appearance of officials in in complex issues requiring expert evidence .
SpaceX Falcon 9 to launch India’s GSAT 20 , satellite to spread biradband coverage
New Space India Limited ( NSIL ) the commercial arm of ISRO will launch GSAT 20 , on board Space X ‘s Falcon 9 rocket during the second quarter of 2024.
The agency said GSAT 20 offeres ka ka band HTS capacity having pan India coverage , including Andman and Nicobar and Lakshdeweep .
The satellite weighs 4700 kg , offers an HTS capacity of 48GBPS and has been significantly designed to meet the demanding service needs , of remote and unconnected region .
Union Govt in 2020 mandated NSIL to build , launch, own and operate satellite in “ demand driven mode “ .
Falcon 9
ASI urges court not to make Gyanvapi Survey report public
The central agency said that if the survey report was made public before the submission in the high court there is more chances of rumour .
54% of patients given antibiotics only as a preventive measure , says survey
A survey by NCDC ( National Council for Disease Control ) has the following findings regarding use of Antibiotics and spread of Anti icrobial resistance
● 94% of the patients were prescribed antibiotics even before a definite diagnosis of the infection . Only 6% were given antibiotics after confirmed diagnosis .
● 55% were prescribed the drugs , for prophlatic indications means to prevent an occurence or spread of infection .
37.3% getting antibiotics to prevent surgical site infection .
Antimicrobial Resistance ( AMR )– It is a condition in which drugs used to prevent disease are not that effective , as bacteria evolves . The frequent use of antibiotic make bacteria evolve and the drug to cure the disease is not that effective .
WHO has identified AMR as top threat to public health .
50 % of cybercrime plaints originate in China , Pockets of Cambodia and Mayanmar
The information was given by home ministry .
About 5000 companies are filed every day .
From April 1 2021 to December 31 , 2023 . ₹10,319 crore had been lost to cybercrime .
World
103 killed in twin blast at memorial event in Iran
At least 103 people were killed on Wednesday as two bombs in twin succession struck a crowd commentatoring , salin general Qassem Suleimani , on anniversary fo his killing the state media said .
The blast injured 211 people ,
Iran’s supreme leader Ayatollah Ali Khameeini blamed “ evil and criminal enemies “ of country and vowed a “ harsh response “ .
The blast struck Saheb Al Zaman Mosque in Kerman , Sokemiinei , Southern Bonetown where he is buried .
UN Secretary general Antonio Guterras , the European Union and Russian President Vladimir Putin , denounced the blast .
Qasssim Sukeimani was killed in a US drone strike near Baghdad few years ago . Quassim Sukleimani served in Islamic Revolutionary Guard Corps . He was main person behind Iran’s millitary and intelligence .
In Iran he is seen as a “ living legend “ and looked as a hero .
Israel ready for any scenario ,after hit kills Hamas leaders
A drone strike in Labnon killed Hamas killed deputy leader of Hamas Saleh Al Aruri .
The number two of Hamas.
Though Israel has not confirmed that it killed Aruri ,it is widely thought behind the killing .
Israeli army spokesperson Daniel Harrari told “ said “ military was in a very high states of readiness in all arenas “ and prepared for all scenarios “ .
David Barnea chief of Mossad said that it wiloild hint down , every member of Hamas no matter where they are .
Saleh Al Aruri was instrumental in building up Hamas’s military capabilities and it’s link with regional allies .
Most recently he was “channel or link “between Hamas Movement and Iran and Hezbollah , a hams source said , Aruri had regularly visited Iran . Aruri was also considered leader of Hamas in West Bank .
Israel has accused Aruri of playing key role in several attack on Israel including October 7 attack .
Israel Minister Ben Gvir calls for return of settlers to Gaza
Israeli National security minister Ben Gvir in a meeting called for return of settlers to Gaza , and said that , Palestinian should be encouraged to leave .
“ This is an opportunity to develop a project to emigrate Gaza’s residence to emigrate to countries , around the world “ . Ben Gvir said .
He suggestted settling of Jewish people in Gaza .
The US and France on Tuesday denounced these comments .
Trump promises to begin largest domestic deportation operation
Donald Trump is escalating verbal attackninmigrants as h seeks a second term .
Trump has promised the largest domestic deportation in Amercian history , telling supporters twice in recent weeks that immigrants were “ poisoning the blood of our country “ .
Rescuers search for survivors after quakes leave 73 dead
The numbee of death in Japanese earthquake has reached 73 .
