Adani News

Tag: investigation

  • Spurious liquor deaths: CB-CID to begin probe today

    Spurious liquor deaths: CB-CID to begin probe today

    CHENNAI: The Crime Branch-Criminal Investigation Department (CB-CID) is set to begin probe on Thursday into the spurious liquor tragedy in the State. ADSP Gomathi has been appointed as the Investigation Officer in Villupuram and ADSP Maheshwari in Chengalpattu.Earlier, the Tamil Nadu police slapped a murder case against S Elaya Nambi (45), a chemical engineer and owner of Jayashakti chemicals private limited at Vanagaram near Chennai, from whom the Methanol was procured and 16 others who supplied and sold the spurious liquor to villagers in the two districts of north Tamil Nadu in which 22 persons have died so far.

    Police investigation revealed that Elaya Nambi sold 1200 litres of methanol to Barakathullah alias Raja (51) and R Ezhumalai (50) of Puducherry for Rs 66,000. It is from Ezhumalai and Raja, that the small-time sellers procured it to be sold at Ekkiyarkuppam near Marakkanam and Sithamur near Madurathagam. Ezhumalai and Raja were arrested.

    Earlier, In Villupuram, police had arrested three persons V Muthu (35), A Arumugam (40), and A Ravi (42) of Marakkanam for allegedly supplying the hooch to residents of Ekkiyar Palayam. V Amaran (27) was arrested on Sunday. In Chengalpattu, police arrested Ammavasai (50), Chandru (40), and Velu (38) for their involvement.

    On Wednesday, Tamil Nadu Chief Minister M K Stalin held a review meeting with top officials in the wake of the hooch tragedy and directed State police to take stringent and continuous action against those selling illicit liquor and narcotic substances and submit a weekly report on this to him every week. TN Governor RN Ravi on his part sought an Action Taken Report (ATR) from the Chief Secretary over the recent hooch tragedy.

    It is also to be noted that the National Human Rights Commission (NHRC) issued a notice to the State government seeking a report.

  • Adani-Hindenburg row: SC grants 3-months extension to SEBI for probe

    Adani-Hindenburg row: SC grants 3-months extension to SEBI for probe

    NEW DELHI: The Supreme Court on Wednesday granted an extension of time for three months to the Securities and Exchange Board of India (SEBI) to conduct a probe into the Hindenburg report against Adani Group.

    A bench led by the Chief Justice of India (CJI) DY Chandrachud and also comprising Justices PS Narsimha and JB Pardiwala granted an extension of time for three months to SEBI.

    The court said that SEBI is granted time till 14th August 2023 to conduct the probe. The court also said that the matter will be listed in July and requested the expert committee to continue to assist the court. The court also said that the expert committee may hold further deliberations in the meantime. The court also said that copies of the report of the expert committee shall be made available to the parties and their counsels to assist the court.

    Solicitor General Tushar Mehta has informed SC, SEBI is seeking an extension of time for conducting the probe and needs six months to reach any conclusion. In a rejoinder filed recently, The Securities and Exchange Board of India apprised the Supreme Court on Monday that the market regulator is already investigating Adani Group companies since 2016 is factually baseless.

    SEBI has filed a rejoinder affidavit in response to a petition relating to Hindenburg Research’s report on Adani Group. SEBI had sought an extension to conclude the investigation in the report by US short-seller Hindenburg Research by a period of six months.

    The top court on Friday orally remarked that they will extend the time for the probe to SEBI, but not for six months and they can extend the time for the probe by three months. SEBI told the SC that the investigation done earlier by SEBI pertains to the issuance of Global Depository Receipts (“GDRs”) by 51 Indian listed companies, in respect of which investigation was conducted.

    SEBI submitted before the Supreme Court that no listed company of Adani Group was part of those 51 companies it was investigating. “Pursuant to the completion of the investigation, appropriate enforcement actions were taken in this matter. Hence, the allegation that the Securities and Exchange Board of India (“SEBI”) is investigating Adani since 2016 is factually baseless. I, therefore, say and submit that reliance sought to be placed on the investigation pertaining to GDRs is wholly misplaced,” SEBI said in a rejoinder affidavit.

    SEBI submitted before Supreme Court that in the context of the investigation into Minimum Public Shareholding (“MPS”) norms, SEBI has already approached eleven overseas Regulators under the Multilateral Memorandum of Understanding (“MOU”) with the International Organization of Securities Commissions (“IOSCO”). Various requests for information were made to these Regulators. The first request to overseas Regulators was made as early as on October 6, 2020, SEBI apprised the court.

    SEBI submitted before the Supreme Court that the application for extension of time filed by SEBI is meant to ensure carriage of justice keeping in mind the interest of investors and the securities market since any incorrect or premature conclusion of the case arrived at without full facts material on record would not serve the ends of justice and hence would be legally untenable.

    SEBI has informed Supreme Court that in respect of the investigation and examination relating to 12 transactions referred to in the Hindenburg Report, prima facie it is noted that these transactions are highly complex and have many sub-transactions across numerous jurisdictions and a rigorous investigation of these transactions would require collation of data/information from various sources including bank statements from multiple domestic as well as international banks, financial statements of onshore and offshore entities involved in the transactions and contracts and agreements, if any, entered between the entities along with other supporting documents.

    On March 2, the apex court directed the capital market regulator SEBI to investigate any violations of securities law by the Adani Group in the wake of the Hindenburg report, which led to a massive wipeout of more than USD140 billion of the Adani Group’s market value. Supreme Court, on March 2, set up an expert committee on the issue arising from the Hindenburg Research report on Adani Group companies.

    The committee will consist of six members, headed by former apex court judge Justice AM Sapre. The top court had then asked SEBI to file a status report within two months. The apex court was then hearing petitions pertaining to the Hindenburg report, including the constitution of a committee relating to regulatory mechanisms to protect investors’ interests.

    The January 24 Hindenburg report alleged stock manipulation and fraud by the conglomerate. The Adani Group has attacked Hindenburg as “an unethical short seller”, stating that the report by the New York-based entity was “nothing but a lie”. A short-seller in the securities market books gains from the subsequent reduction in the prices of shares.

  • Burglary probe at Retd Govt staff home in Chennai leads to serial offenders

    Burglary probe at Retd Govt staff home in Chennai leads to serial offenders

    CHENNAI: City Police on Saturday arrested two persons in connection with the burglary at a retired government staff’s home in Kolathur three months ago. While one of the accused was arrested on March 1, within two weeks of the burglary, three others were arrested on Saturday based on the information provided by the accused.

    The burglars had broke into the house of K Gunasekaran (70) at Teacher’s colony in Kolathur. Gunasekaran left his home on February 12 to visit his hometown and returned on February 16 to find the front door broke open.

    On checking inside, Gunasekaran found that 16 sovereigns of gold jewellery, silver articles and cash worth Rs 1 lakh was stolen. Based on his complaint, Puzhal Police registered a case and began investigations. On March 1, a special team of Puzhal Police arrested G Mohan alias Motta Mohan (56) of Ennore in connection with the burglary.

    Police investigations revealed that Mohan was not operating alone and based on the inputs provided by him, a team picked up two other accomplices on Saturday, who were part of the burglary.

    The arrested persons were identified as V Dhinakaran (35) of Ambasamudram, Tirunelveli, M Selvakumar alias Abdullah (38) of Ramanathapuram.

    Police recovered 27 sovereigns of gold jewellery, 250 grams of silver articles and cash worth Rs 36,500 cash from them.

    “Dhinakaran and Motta Mohan got acquainted in Prison 15 years ago and have been indulging in burglaries in and around chennai since 2008,” an official said.

    They have also broken into houses in Trichy, Thanjavur, Tindivanam, Bangalore too, police investigations revealed. Police said that they are involved in at least 20 burglary cases. The arrested persons were produced before a magistrate and remanded to judicial custody.

  • SIT constituted to investigate Buddha statue case

    SIT constituted to investigate Buddha statue case

    The ADGP, Hisar Range, Shrikant Jadhav, has constituted a five-member special investigation team (SIT), headed by Superintendent of Police (SP), Sirsa, Arpit Jain, to probe the two cases registered in the matter of the antique Lord Buddha idol, which was converted into bars by the Hansi CIA cops.

    Case registered against CIA-2 officials for converting antique Buddha idol into bars, role of Hansi SP under scanner

    The idol had been brought to Hisar by an UP labourer, an accused in the case, who was arrested today.

    Thr SIT will be supervised by the Fatehabad SP Astha Modi, said the IG office spokesperson today. It will include Sirsa ASP Deepti Garg, Hisar DSP Detective Abhimanyu and inspectors Surender Kumar and Prahlad Singh. The Hansi police registered a criminal case against the entire CIA-2 branch, including seven cops and its in-charge, in connection with the melting and converting the antique idol of Lord Buddha into bars, said the ADGP.

    Eight cops, including the CIA in charge Nitin Kumar, had been booked under Sections 166-A (public servant disobeying direction under law), 201 (causing disappearance of evidence of an offence committed, or giving false information), 217 (public servant disobeying direction of law with intent to save person from punishment or property from forfeiture), 409 (criminal breach of trust by public servant), 420 (cheating) and 120 B (criminal conspiracy) of the IPC on the complaint of Bablu.

    The ADGP had ordered the registration of the FIR against the cops. The case files related to the FIR against the cops will be handed over to the SIT for further probe, the sources added.

    The cops had taken away the antique idol from the UP labourer and got it melted and converted into bars, presuming it to be of gold. The cops scared away the labourer Bablu, who had brought the idol from his village in UP to Hisar.

    Later, Bablu lodged a complaint with the IGP Hisar range who marked the complaint for further investigation, which led to the exposure of the entire episode. While the ADGP recommended the registration of the FIR against the cops, the Hansi police also registered an FIR against Bablu and four other persons, stated to be members of UP-based Taklu gang.

    Timeline

    January 10: Bablu took the idol of Lord Buddha to Hisar from Uttar Pradesh

    January 12: CIA-2 Hansi police seized the idol from Bablu and let him off

    January 22: Cops got it melted and converted into bars

    March 7: Bablu complained to IG office, Hisar

    March 17: Based on probe report, ADGP ordered registration of an FIR against CIA-2 cops and suspended them

    March 17: Five persons, including Bablu, booked by the Hansi police and CIA cops placed under suspension

    March 18: On the recommendation of the ADGP, FIR registered against cops who got the idol converted into bars with criminal intent. About 4-kg Lord Buddha idol turned out to be made of ordinary metal