Kerala HC grants anticipatory bail to Aisha Sultana in bizarre sedition case

News Network

June 25, 2021

Thiruvananthapuram, June 25: The Kerala High Court has on Friday granted Anticipatory Bail to Aisha Sultana in the bizarre Sedition Case.

Justice Ashok Menon passed the order on bail application filed by the Lakshadweep filmmaker Aisha Sultana seeking anticipatory bail after an FIR was registered against her under Section 124A and 153B of IPC.

The filmmaker was booked for her remarks on a media channel that the Centre had deployed Covid 19 as a 'bio weapon' against the people of Lakshadweep. Accordingly, she was asked to appear before the Kavaratti Police Station on 20th June 2021, which prompted the bail application.

The Single Bench had on 17th June granted her an interim anticipatory bail for a week, while also granting her the right to invoke Section 41D CrPC, implying that if an arrest is recorded after her interrogation, she is entitled to demand the presence of her counsel.

She was also directed to comply with the notice and appear for the interrogation before the concerned authorities by the said interim order. As a result, it is reported that she appeared before the Kavaratti Police Station on the said date.

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Adani Group in Crisis: $30 Billion Wiped Out after US Bribery and Fraud Charges Emerge

News Network

November 21,2024

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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