Action will be taken if Twitter, FB platforms are misused: Govt

Agencies
February 11, 2021

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New Delhi, Feb 11: The Centre on Thursday categorically cautioned social media platforms against spreading fake news or anything inciting violence, as Information Technology Minister Ravi Shankar Prasad said action will be taken if Indian laws were flouted.

"There is freedom of speech but Article 19A says that this is subject to reasonable restrictions," the Minister for Communications, Electronics & Information Technology told in the Rajya Sabha as he reminded platforms like Twitter and Facebook to comply with Indian rules while carrying out business.

"We respect social media a lot, it has empowered common people. Social media has a big role in the Digital India programme. However, if social media are misused to spread fake news and violence, then action will be taken on the misuse of social media in India whether Twitter or else," said Prasad.

He said all the social media platforms will have to adhere to the constitution of India. The Indian constitution allows criticism of the government and the Prime Minister, but spreading fake news will not be allowed, he said.

Prasad said, "We have flagged certain issues to Twitter and social media has to take into consideration of the Indian Laws if they want to do business in the country.

"Different parameters can't be allowed for different countries. It can't be different for the Capitol Hill incident and some other parameters and for the Red Fort incident."

The Indian government on Wednesday expressed displeasure over Twitter's delayed compliance on its order to remove "provocative" tweets amid the ongoing farmers' protests.

IT Secretary Ajay Prakash Sawhney expressed Centre's displeasure to Twitter's management.

An official statement issued late Wednesday night said the Secretary told Monique Meche, Vice President, Global Public Policy and Jim Baker, Deputy General Counsel and Vice President Legal of Twitter that delayed compliance to lawfully passed orders are "meaningless".

"Lawfully passed orders are binding on any business entity. They must be obeyed immediately. If they are executed days later, it becomes meaningless," Sawhney was quoted as saying in the statement.

The official expressed his deep disappointment to Twitter leadership about the manner in which Twitter has unwillingly, grudgingly and with great delay complied with the substantial parts of the order, the statement said.

He also told Twitter that in India its Constitution and laws are supreme.

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News Network
November 19,2024

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News Network
November 21,2024

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Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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News Network
November 21,2024

adani.jpg

Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
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