Gautam Adani, the chairman of the Adani Group, spoke publicly for the first time after facing serious accusations and being charged in the US. He assured people that his company is dedicated to following the law and said, “Every attack makes us stronger.”
Two weeks ago, the US Justice Department and the Securities and Exchange Commission (SEC) charged Gautam Adani, Sagar Adani, and Vneet Jaain, leaders of Adani Green Energy Ltd (AGEL), with serious crimes. They are accused of misleading investors, fraud, and violating US rules in documents related to AGEL’s bonds. The Adani Group called these accusations false and plans to defend itself in court.
At an award ceremony, Adani claimed that despite negative reports, no one from his company has been charged with breaking US laws. He expressed how misinformation travels faster than the truth but emphasized the group’s commitment to following the rules.
Recently, Adani Green Energy cancelled a $600 million bond issue due to the charges. This bond was very popular, oversubscribed three times, right before the prosecutors announced the case against him and his associates for bribing Indian officials over solar power contracts.
After the charges were made public, the stocks of Adani Group companies dropped significantly, losing about $26 billion in market value. However, they have started to bounce back, with many companies seeing stock prices rise recently.
Adani shared how facing challenges is part of aiming high. He believes that these challenges only make the group stronger and tougher. He remarked that although they have had successes, the obstacles are even bigger.
He mentioned how last year, the group stopped a huge share sale after a report from a US short-seller accused them of manipulating stocks. Despite this, their commitment to principles remained strong, and they raised funds from different international sources to reduce the company’s debt.
He reminisced about investing in a coal mine in Australia, which faced a lot of resistance for nearly ten years. He stated that the challenges they faced during that project have made them resilient, as they now have a successful mine in Australia.
Finally, Adani encouraged business leaders to embrace technology and sustainability for better future, empower skilled workers, and guide the younger generation to blend tradition with innovation.
Author: Naman Dheer
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Adani’s Strong Stand After US Indictments: Resilience and Compliance, Says Every Attack Makes Us Stronger
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Trump Warns BRICS: No New Currency or Face 100% Tariffs
US President-elect Donald Trump had a strong message for countries in the BRICS group (Brazil, Russia, India, China, and South Africa). He is asking them not to create or support a new currency that could replace the U.S. dollar. If they don’t listen, he warned they could face 100% tariffs—meaning their products would cost double when sold in the United States.
On his social media platform, Truth Social, Trump said, “We need a promise from these countries that they won’t create a new BRICS Currency or back another currency that could take down the powerful U.S. Dollar. Otherwise, they should expect 100% tariffs and will have to say goodbye to selling in the amazing U.S. Economy.”
He added, “Let them try to find another buyer. There’s no way BRICS can replace the U.S. Dollar in international trade. Any country that tries should prepare to say goodbye to America.” -
Worst November Air Quality in Delhi Since 2021
This November was one of the most polluted months ever for Delhi, coming in just behind November 2021. The average Air Quality Index (AQI) this month was 375, just slightly better than last month’s 376. For the first time, the AQI never dropped below 300 all month!
Delhi’s residents had to deal with eight ‘severe’ days, including two days classified as ‘severe-plus.’ Without any rain this month, local and nearby pollution sources made the air quality get worse. The worst day happened on November 18, when the AQI shot up to 494, making it the second most polluted day ever in the city.
Anumita Roychowdhury, a leader at the Centre for Science and Environment, said, “It’s worrying that air pollution in the winter is getting worse. We need to focus on controlling pollution all year round, not just in Delhi but in the entire National Capital Region and beyond.”
Comparing this November to last year’s average AQI of 373 shows just how bad the situation is. In previous years, the AQIs were much lower, highlighting the growing problem.
Dipankar Saha, a former head at the Central Pollution Control Board (CPCB), explained that there hasn’t been much rain to help settle the pollution. He urged that without addressing emissions, things will only get more complicated in winter.
This year’s bad air quality comes right after October recorded dangerously high pollution levels, making it the worst since 2020.
The CPCB breaks down AQI levels to let people understand air quality: 0-50 is ‘good,’ 51-100 is ‘satisfactory,’ 101-200 is ‘moderate,’ 201-300 is ‘poor,’ 301-400 is ‘very poor,’ and over 400 is ‘severe.’ -
OpenAI Faces Lawsuit from Canadian News Companies
OpenAI, the creator of ChatGPT, is now dealing with a lawsuit from major news outlets in Canada. These companies, which include CBC, Postmedia, Toronto Star, and others, say OpenAI has used their news stories without permission, which is against the law.
The news organizations claim they spend a lot of money each year to produce high-quality journalism, including original news and investigative reports. They argue that taking their content without paying for it hurts the value of Canadian news and could harm the industry’s future.
The media groups are asking for money from OpenAI, including extra penalties, a share of the profits made from their articles, and a stop to any further unauthorized use of their content. They insist that their work matters to Canadians and is protected by copyright laws.
OpenAI has responded by saying they believe their use of external content is okay since it supports public interests. They also say they work with news publishers for proper display and provide options for them to opt-out if they choose.
However, the news companies disagree and want OpenAI to be held responsible for what they call illegal use of their content. -
Supreme Court Suggests Petitioners Approach Government for Sanatan Board
A group called the ‘Sanatan Hindu Sewa Sangh Trust’ asked the Supreme Court to make a special board to protect their religion, ‘sanatan dharm.’ They believe that their community is being attacked by followers of other religions. The court, led by Chief Justice Manmohan, said it couldn’t make this decision because it’s about government policy. The judges advised the petitioners to take their request directly to the government. The court explained that they don’t have the power to create a trust as asked. They closed the petition but allowed the group to approach the government for help.
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Everything You Need to Know About the New PAN 2.0 Initiative
On November 26, the Central Board of Direct Taxes (CBDT), part of the finance ministry, shared details about a new initiative called PAN 2.0. This project is aimed at making the process of getting and managing a PAN card (Permanent Account Number) easier and more modern.
If you already have a PAN card, you won’t need to get a new one. The CBDT said that they have been using QR codes on PAN cards since 2017-2018, and now they’re enhancing this feature with a dynamic QR code, which can help check your latest PAN information easily. If your current PAN card doesn’t have a QR code, you can choose to apply for a new card with a QR code either through the current PAN system or the new PAN 2.0 system.
The PAN 2.0 project will cost about ₹1,435 crore and is expected to launch in 2025, though the exact date isn’t set yet. Here are some key points about how PAN 2.0 will differ from the current system:
1. All Services in One Place: Right now, PAN services are available on three different websites. Under PAN 2.0, all services will be on a single website run by the Income Tax Department. This will let you handle everything related to your PAN and TAN (Tax Deduction Account Number) in one place, like applying, correcting details, and linking your Aadhaar.
2. Paperless Process: You’ll be able to do everything online without needing to send in documents on paper.
3. Free Corrections: You can update or correct your PAN details for free. You’ll need to pay ₹50 if you want a physical PAN card. If you live outside India, there will be additional charges.
4. Updating Old Information: If you want to change your old address, you can do it for free using your Aadhaar card.
5. Using PAN for Business: Your PAN will also serve as a common identifier for businesses in certain sectors, as mentioned in the 2023 Union Budget.
6. No Duplicate PANs: You can only have one PAN card. If you find that you have more than one, you need to tell the tax office, so they can remove the extra ones.
By making these changes, the government hopes to improve the processing of PAN cards and reduce issues with multiple PAN cards being issued. -
Modi Celebrates 75 Years of Indian Constitution at Supreme Court says “nation first”
On Tuesday, Prime Minister Narendra Modi celebrated Constitution Day at the Supreme Court, stating that the Indian Constitution is essential for both today and the future. He mentioned that for 75 years, the Constitution has guided the nation through various challenges. Even during tough times like the emergency period, the Constitution proved its strength.
He proudly noted that the principles of the Constitution are fully in action in Jammu and Kashmir, where Constitution Day was celebrated for the first time this year. The Constitution was adopted by the Constituent Assembly in the Central Hall of Parliament on November 26, 1949, and came into effect on January 26, 1950. This adoption day is known as Samvidhan Divas.
Modi recalled Dr. Rajendra Prasad’s words about India needing honest leaders who put the country first. He expressed his commitment to respecting the Constitution, emphasizing that he has never overstepped his boundaries as the Prime Minister.
He also remembered the tragic Mumbai terrorist attack that happened on this day in 2008, honoring the victims and promising a strong response to any terrorist threats to India.
Before the event, Modi posted a greeting on X (formerly Twitter) to mark the 75th anniversary. Meanwhile, both the ruling BJP and opposition parties have been criticizing each other over their commitment to constitutional values. -
89% of Newly Elected MLAs in Jharkhand Are Crorepatis! Find Out More!
In Jharkhand, a recent report shows that 89% of the new Members of the Legislative Assembly (MLAs) are very wealthy, commonly referred to as “crorepatis.” This means they have assets worth over ₹1 crore. There are 14 MLAs with debts of ₹1 crore or more. The wealthiest MLA is Rameshwar Oraon from the Congress party, who has declared assets totaling ₹42.20 crore.
On average, a winning candidate in the 2024 elections had assets worth ₹6.90 crore, which is a big jump from ₹3.87 crore in the 2019 elections. The report analyzed the papers of 80 out of the 81 winning candidates, finding that 71 of them are crorepatis.
Breaking it down, there are 28 crorepati MLAs from the Jharkhand Mukti Morcha (JMM), 20 from the Bharatiya Janata Party (BJP), 14 from Congress, 4 from the Rashtriya Janata Dal (RJD), 2 from the Communist Party of India (Marxist-Leninist) Liberation, and one each from the Lok Janshakti Party (Ram Vilas), Janata Dal (United), and Ajsu Party. This means the new assembly has 20% more crorepati MLAs than in 2019. Back then, there were 56 crorepatis, compared to 41 in 2014.
The second richest MLA this time is Kushwaha Shashi Bhushan Mehta, who has ₹32.15 crore in assets, and the third is Sanjay Prasad Yadav from RJD, with ₹29.59 crore.
The report also shows that 42 of the new MLAs increased their average wealth by ₹2.71 crore in the last five years. In terms of education, out of the winning candidates, 28 have said they finished between Class 8 and Class 12. Fifty of them are graduates or have higher qualifications. One MLA has a diploma, and another said he is “literate.”
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Supreme Court Asks CAQM to Rethink School Restrictions in Delhi
On November 25, 2024, the Supreme Court told the Commission for Air Quality Management (CAQM) to quickly decide whether to relax rules that stopped schools and colleges from holding in-person classes in Delhi and nearby areas.
The judges, A.S. Oka and Augustine George Masih, made it clear that they wanted a decision by the evening of the same day or by the next morning at the latest.
The Supreme Court noticed that many young students, including those in primary classes and anganwadis, missed out on important meals provided at school. Also, a lot of students couldn’t take online classes because they didn’t have the necessary equipment at home. For some, staying at home was just as bad as going to school since they didn’t have air purifiers.
The Court said it was up to the CAQM to decide if students in Classes 10 and 12 could return to in-person learning. Many students do not have access to online learning, which is a problem.
The judges highlighted that from November 20 to November 24, the air quality in Delhi was really bad, with the Air Quality Index (AQI) ranging between 318 and 419. They instructed CAQM to provide updated air quality information by the next court meeting on November 29.
The Court was unhappy that police were not doing their job correctly at the borders of Delhi to stop polluting vehicles, especially big trucks, even after a ban was put in place on November 18. The judges asked CAQM to take action against those responsible for this under the law.
The judges also acknowledged that the air quality restrictions were impacting the work of many people, like construction workers and daily earners. They ordered the governments in and around Delhi to provide support to help these workers during this tough time.
Finally, the Court reminded CAQM that they had the power to take steps to help these workers and ensure they didn’t suffer due to these restrictions
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India Shines in Perth: A Big Win Against Australia
On November 25, 2024, Indian cricket fans were buzzing with excitement at the Optus Stadium in Perth as their team celebrated a stunning victory! India defeated Australia by 295 runs, taking the lead in the Border-Gavaskar Trophy series.
The match began with Australia struggling at just 12 runs with three wickets down. Jasprit Bumrah’s appeal for a leg-before-wicket (lbw) was turned down for a no-ball, giving Australian captain Steve Smith a lucky break. However, Usman Khawaja wasn’t as fortunate; he hit a loose shot off Mohammed Siraj and caught out to Rishabh Pant behind the stumps.
Travis Head then joined Smith, and the two tried to build a partnership. Head survived a tricky moment when an lbw appeal was overturned and quickly got aggressive, hitting several powerful shots. But it was Siraj who struck back, getting Smith out with a fantastic delivery.
Before lunch, Head and Mitchell Marsh managed to keep Australia steady at 104 for five. Meanwhile, Rohit Sharma practiced in the nets, getting ready for upcoming matches in Adelaide.
After the break, Marsh hit a six, but Bumrah finally took Head’s wicket when he was on 89. A partnership worth 82 runs had come to an end. Soon after, Nitish Kumar bowled out Marsh, pushing Australia to a shaky 182 for seven.
Even with Alex Carey and Mitchell Starc at the crease, it was clear that Australia was struggling. Just before the tea break, Starc was caught out by Dhruv Jurel with a quick reflex catch.
Australia was reeling at 227 for eight, and soon after, Washington Sundar bowled out Nathan Lyon. With Burke’s wicket, India celebrated as their bowlers wrapped up the innings.
Final Score:
– India 1st Innings: 150 all out in 49.4 overs
– Australia 1st Innings: 104 all out in 51.2 overs
– India 2nd Innings: 487 for 6 declared in 134.3 overs
– Australia 2nd Innings: 238 all out in 58.4 overs
The match showcased superb bowling by Bumrah, Siraj, and Washington, while Australia struggled to keep up. The next battle is set for December 6 in Adelaide!