‘Jammu & Kashmir to become state again 'at right time’: PM Modi’s new promise and other points

News Network
June 25, 2021

New Delhi: Prime Minister Narendra Modi, in a 3-hour meeting with political leaders of Jammu and Kashmir on Thursday, spoke about removing "Dilli ki Doori as well as Dil Ki Doori" and assured his commitment to restoring full statehood at the right time.

Here's are 10-point

1.    Fourteen mainstream Jammu and Kashmir leaders from eight political parties, including four Chief Ministers, attended the three-hour meeting aimed at getting the political process back on course in the region after it lost its special status under Article 370 of the Constitution in 2019 and was downgraded from a state to two Union Territories - Jammu and Kashmir and Ladakh.

2.    PM Modi, say sources, said statehood would be restored "at an appropriate time" but urged the parties to get on board with delimitation or the redrawing of assembly constituencies to enable elections. Elections can happen soon after delimitation, it was said, and "most participants expressed willingness for it", said sources.

3.    "The main focus of the meeting was to strengthen the democratic process. PM said that we are fully committed to the democratic process in J&K. He stressed that the holding assembly elections just like the successful District Development Council elections is a priority," government sources said.

4.    Former Chief Ministers Farooq Abdullah and his son Omar Abdullah of the National Conference met with PM Modi last on August 1, 2019. They were stunned when three days later on August 4, they were detained and hours later, the abrogation of Article 370 was announced in parliament.

5.    Union Home Minister Amit Shah, while announcing the colossal move in parliament, had said that full statehood would be "restored at an appropriate time". After today's meeting, Mr Shah tweeted: "The future of Jammu and Kashmir was discussed and the delimitation exercise and peaceful elections are important milestones in restoring statehood as promised in parliament."

6.    Omar Abdullah, however, told reporters that "almost all leaders" were unhappy with delimitation only in Jammu and Kashmir. "In other states, delimitation will be taken up in 2026, why has been Jammu and Kashmir been singled out? We told the PM delimitation is not needed," said the former Chief Minister, adding that "trust has broken between the Centre and Kashmir".

7.    The seven-party Gupkar alliance led by Farooq Abdullah and former Chief Minister Mehbooba Mufti, accorded front row status with the PM in photos of the meet, pressed for restoration of full statehood and special status. "We will struggle for 370, be it months or years. We didn't get this (special status) from Pakistan, but from India, Nehru. There can be no compromise on this," Ms Mufti said after the meeting.

8.    The Prime Minister, said sources, "patiently heard suggestions and inputs from all participants" and expressed happiness that all participants shared their frank and honest views. "It was an open discussion which revolved around building a better future for Kashmir," they said.

9.    This was the Centre's first major outreach since August 2019 towards political leaders who have been severely critical of the Article 370 decision. Many of the leaders attending the meeting had been detained as part of security measures to prevent any protests over the sweeping changes.

10.    At the meeting, it was also decided that the Jammu and Kashmir Lieutenant Governor Manoj Sinha would set up a committee to review cases of political prisoners, be it those released - like the Abdullahs and Ms Mufti - and those still in detention.

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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.

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News Network
November 26,2024

DevegowdaHDK.jpg

Bengaluru: The Janata Dal (Secular) is grappling with its most tumultuous political crisis yet, with speculation rife about imminent defections among its lawmakers. This storm comes in the aftermath of party scion Nikhil Kumaraswamy's humiliating defeat in the Channapatna bypoll—his third consecutive electoral loss after setbacks in Mandya (2019) and Ramanagara (2023). With the regional party’s Assembly tally shrinking to 18 from 19, questions are being raised about its survival.

The murmurs of rebellion were amplified on Monday when Health Minister Dinesh Gundu Rao and Congress MLA CP Yogeshwar openly hinted at possible desertions within the JD(S) ranks. Yogeshwar, newly elected from Channapatna, declared he could orchestrate a migration of JD(S) MLAs to Congress. “I’ll meet them at the Belagavi session. Within a month, they’ll be in Congress,” he confidently stated during a televised interview. Yogeshwar has a history of engineering defections, having played a pivotal role in the collapse of the JD(S)-Congress coalition government in 2019 during his stint with the BJP.

Dinesh Gundu Rao, not mincing words, slammed the JD(S) leadership for fostering "self-serving politics," criticizing the HD Deve Gowda family for failing to nurture party talent. “There’s no trust. Their MLAs will seek survival—either in BJP or Congress,” he remarked.

Meanwhile, the expelled JD(S) state president CM Ibrahim added fuel to the fire by claiming that 12-13 MLAs are "disillusioned" with the current leadership. Speculations around senior JD(S) leader GT Deve Gowda joining Congress have also intensified. DK Shivakumar, Karnataka’s Deputy CM and Congress president, described GT Deve Gowda as a “valuable leader” who might be frustrated with the party’s internal dynamics.

While Congress leaders seem eager to poach JD(S) legislators, the BJP is not far behind in targeting the floundering party. The situation signals a decisive moment for the JD(S), as its survival now hinges on how it manages this brewing storm of discontent.

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