THE HINDU 20-05-23
Hindenburg-Adani case : expert panel clears SEBI
SC had formed a six member panel headed by Justice A.M.Sapre to look into functioning of SBI, and were negligence on its part led to Adani-Hindenburg saga that led to huge losses to investors. The panel has cleared SEBI the main findings in its 178 page report panel has put :-
- On Minimum Public ShareholdingSEBI had been suspecting 13 overscas entities of having links with Adani group promoters. But SEBI could not prove these and more investigation is required which is underway.
- a/c Minimum Public share holding rule a listed company must have at least 25% of its shares open for public, while up to 75% can be held by promothers. Hindenburg report had that Adani group shows many shares as public holding it is owned by Adani itself
- . On Related Party Transaction Related Party Transaction – Refers that a deal between two parties had preexisting business relationship or common interest. Hindenburg report refers to over 600 related party transaction committee has said that SEBI is still investigation related party transactions.
- On Price Manipulation. The Panel said that no evident pattern of manipulative contribution to price rise in shares has been found it was alleged that SEBI didn‟t „But no any evidence against SEBI not acting has been found. SEBI was proactive on manipulation signals. SC has given SEBI time till August to complete Adani Probe.
RBI to pull out 2000 notes from active circulation.
RBI on decided to withdraw 2000 notes from market circulation under “Clean note policy”. Clean note policy – RBI has asked banks to not pass on the soiled, form and scribbed notes to the customers clean note policy is to give consumer good quality currency notes.
- One will be able to deposit 2,000 notes in his bank account or will be able to exchange 2,000 note with other notes from bank.
- Starting date of the exercise will be 23 May and end date 30 September.
- At one time 2000 notes worth 20,000 will be deposited or exchanged. RBI has issued guidelines to bank so that people don‟t have to face inconvenience. Between the period 23 May and 30 September 2,000 notes still be valid for transactions.
Centre reserves SC order, gives L-G final say on bureuorats.
The union govt on Friday brought an ordinance designating the lejiutorout -Governor (L-G) as the administrator of final say on postings and transfer of all bureaucrats serving in Delhi govt. The ordinance seeks to amend National Capital territory of Delhi (NCTA) act, 1991. According to ordinance National capital civil service Authority (NCCSA) will be established which will decide on transfer and posting of civil servant. NCCSA will be headed by chief Minister of Delhi with chief secretory of NCT Delhi and Principal Home secretory of Delhi being other two members. All matters shall be decided by majority of votes of the members present and voting. The ordinance said that L-G will pan orders to give effect of NCCSA decisions but can ask for relevant material with regard to the decision of NCCSA. If L-G differs with the decision he can return the recommendations for reconsiderations. In care of difference of opinion, the decision on L-G shall be final. Earlier on May 11, SC in its order had said that Delhi cabinet will take decision on posting, transfer and other policy issues. And L-G will have to give its assent.
SC calls for records of ex-MP‟s remission.
The SC on Friday directed the Bihar govt to produce the original documents that led to its decision of remitting the life sentence of former MP Anand Mohan. Anand Mohan was facing life imprisonment in murder of an IAS officer Bihar govt on April 10 amended Bihar Prison Manual according to which remission after 14 years was allowed in case of Murder of public servant of slained officer family members has went to courts in this
SC defers scientific survey on „Shiviling‟ at Gyanvapi Mosqui.
SC on Friday deferred the direction on May 12 in court to conduct carbon dating of gyanvapi mosqe premised in Varanasi. On may 12 Allahabad High Court had ordered carbon dating and scientific survey of Gyanvapi Mosque premises on May 22. CJI Dy Chandchued said “implication of May 12 order would require close scruting” court has suspended carbon dating and scientific study by ASI till next hearing.
Independence of SC is integral to rule of law‟ Joseph.
“the independence of the supreme court is integral to the maintance of a democratic way of life and rule a law. It is not very difficult for a nation which is a democracy having a constitution to slip into choos, into just opposite to democracy” said retiring SC Judge Justice K.M Joseph in his farewell address.
SC back to its fall strength of 34 as CJI administers oath of two new Jdges
CJI administered oath to Justice Prashant Kumar Mishra and K.V. Vishwanath as new SC Judges the two Judges will replace justice Dinesh Maheswari and M.R. Shah who retired earlier in May.
Effort to spin panel‟s findings as clean chit to Adani bagus : Congress 6 members panel appointed by SC has cleared SEBI from any misadventure.
Even limited arsenic exposure can mar cognitive ability : Study.
A study published in a Journal, JAMA network open has said that even 10 v level of Arsenic consumption may impact cognitive function in children, adolescent and young adults. The study found that those exposed to Arsenic had reduced grey matter (brain tissue essential for) cognitive function) and weaker connection in brain that enables concent ration. Consumption of high level of Arsenic from contaminated ground water is being linked to mary ailments in India
„This time, I had a dream tean‟
Commander (Retd) Abhilash Tomy came 2nd in Golden Globe Race (GGR). GGR is a solo non-stop circumnavigation of globe without any modern technological aids, recreating sailing in 1960s. the race had 16 participants from 11 countries.
Ev‟s top officials wants more scrutiny on Indian Products derived from Russian oil. EV‟s top foreign affairs and security official Jesop Borrell in a blog said.
- Indian oil purchases has increased from before Ukraine crisis of .2% to after Ukraine crisis to 36.4%
- There has been increase in European companies buying oil products from India. It is circumvention of ban on Russian oil purchases. Few days earlier after meeting with EAM S. Jaishankar and commerce minister piyush Goyal he had said that (EV) had to carb import of refined petroleum products from India.
Pakistan officials hand over list of 2,200 wanted” people to Imran.
A three-member delegation of Punjab province govt met Imran khan at his Zaman park residence. They handed over Mr. Khan a list of 2200 suspects that were involved in the attack on the Lahore corps commander house and Askari tower. Later in a press conference, Mr. Khan demanded evidence regarding his party‟s involvement in May 9 Violence, saying if any one fro PTI was involved, “I will help catch them” On Friday a anti terrorism court granted pre-arrest bail till June 2 to Mr. Khan in three terrorism cases.
U.S. to provide advanced jets, pilot training to Ukraine.
U.S. president told G-7 leaders on Friday that Washington will support providing advanced warplanes includin
g F-16s to Ukraine and will back efforts to train Ukrainion pilots, a senior white house official said on Friday. Ukrainian president Vlodmir zelensky has hailed this move as “Historic” earlier UK. Had ocqreed to provide cruise missile to Ukraine. F-16 – It is among the most advanced fighter jets currently. Falls in line with sukhoi, Rafale
Iran executes three persons linked to Amini protests from last years. They are convicted of “war against god” for drawing a gun during protest in Isfahan.
Syria‟s Assad caps return to Arab grouping at Saudi Hosted summit “Arabian leader welcomed back Syria in Arab league, hosted this year in Jeddah, Saudi Arabia.
Russia bans entry to 500 U.S. nationals including Barack Obama.
CHANGE FOR THE BETTER
The shifting of Rijiju from law ministry should end conflict with the Judiciary
What the editorial is all about?
The editorial is regarding recent cabinet rejig in which kiran Rijiju was removed from law minister. The editorial talles about possible reasons for removal of Kiran rijiju and challenges before new law ministry of state
About recent cabinet reshuffle.
Kiran Rijiju has been removed has been removed from the post of Minister of law and Justice. He has been given Ministry of earth sciences now. Arjun Ram Meghwal is Minister of state of law and Justice ministry with independent charges New Old Ministry of law → No cabinet Minister Kiran Rijiju and justice but Minister of state with independen charges Cabibet Minister charges arjun Ram Meghwal ministry of earth Kiran Rijiju No cabinet Minister sciences Cabinet Minister
What was possible reason for removed of kiran Rijiju as law minister.
- Mr Rijiju period saw increase in conflict between executive and Judiciary.
- Mr. Rijiju was critical of collegiums system for appointment of Judges. He expressed his criticism many times on Public platform.
Challenges before the new law minister of stock
Mr. Meghwal started his stint such that he did not want any conflict with Judiciary he cleared 2 Judges for SC on first day in office. Finalization of Fresh memorandum of procedure for Judical appointments Govt had emphasized to SC the need for finalization of Memorandum of procedure. Govt. had given idiea of “Circumvention cum evaluation committee” in which a government representative will be those. These are some urgent issues. No cabinet Minister Cabinet Minister Minister of state with Minister of state With independent charge Means no cabinet minister above minister of state
AMONG THE ELITE India‟s presidency of the G-20 gives it additional heft at G-7 summit
What the editorial is all about?
PM Modi is going to participate in G-7 in Hiroshima. India has G-20 presidency with it. The editorial is India‟s stand in G-7 meetings and Major issues that can be discussed.
G-7 is group of 7 countries and EV (Europeans Union) G-7 members → USA, France, Germany, UK, Italy, japan, Canada + EU (European Union) G7 this years is hosted by Hiroshima (Japan). Hiroshima is same city where USA lad dropped its first nuclear bomb at the end of world war. Other countries which has been invited for G7 this time are : India, South Korea, Australia, Brazil, Vietnam, Indonesia, Comoros and Cook Island, Ukraine .
India and G-7 India
has aligned G-20 programme with a G-7 programme means the major issues in both will be same building supply chain reliability spearheading alternative emergy coalition and seeking alternative energy coalitions are some of the major issues that will be discussed. Ukraine issue will be one of the major issues, while India has balanced itself between Russia and west. All the members of G-7 are tough towards Russia, they seem to take further action that may seem to take further action that may harm Russian economy further. India will have to stand with its stance here. India represents “Voice of global south”, and will have to advocate lifting sactions by G-7 countries on developing countreis in areas of food, fertilizer and energy security. Pm Modi can also meet Ukrainian president Vlodmir Zelensky first time after Ukraine war. A QUARD meeting b/w Australia, USA, Japan and India is expected on the sidelines of G-7