Supreme Court appoints committee for discussion with farmers, govt on farm laws

Agencies
January 12, 2021

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New Delhi, Jan 12: The Supreme Court on Tuesday stayed the implementation of three farm laws and asked the committee formed by it concerning the three farm laws to submit its report within two months.

The court said the first sitting of the committee, formed to listen to the grievances of farmers and views of the government, should be held within 10 days.

"The committee should file the report within two months before the Supreme Court. First sitting to be held within 10 days," the three-judge bench of the Apex Court, led by CJI S A Bobde said in its order today.

The court also expressed hope that the farmers' protests will be called off after it stayed the operation of the new farm laws.

It said that the MSP system as it existed before the enactment of the laws must be continued.

"No farmer must be dispossessed or deprived of his title as a result of any action taken under the laws," the bench of the Apex Court today said.

The top court said that the committee will comprise of Bhupinder Singh Mann, Pramod Kumar Joshi, Ashok Gulati, Anil Ghanwant.

The committee has been constituted for the "purpose of listening to the grievances of farmers relating to the farm laws and views of the government to make recommendations".

The court said the panel shall be provided a place in Delhi and government will bear its expenses and provide secretarial assistance.

The representatives of farmer bodies, whether they are holding a protest or not and whether they support or oppose the laws, shall participate in the deliberations of the committee and put forth their viewpoint, the court said.

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News Network
November 19,2024

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News Network
November 14,2024

Bengaluru: Karnataka Deputy Chief Minister D K Shivakumar on Thursday backed Chief Minister Siddaramaiah over his claim that the BJP had offered Rs 50 crore each to 50 Congress MLAs in an attempt to "topple" the state government.

Addressing reporters here, Shivakumar, also the Congress state president, said, “The BJP indeed lured 50 Congress MLAs with Rs 50 crore each.”

He defended Siddaramaiah’s statement and said the Congress MLAs were briefed about the BJP’s alleged 'Operation Lotus', a term used to describe the BJP's attempts to destabilise ruling governments through horse-trading.

“Some of our MLAs informed the Chief Minister about this matter, and he, in turn, shared it with the media,” Shivakumar said.

At an event in Mysuru, Siddaramaiah reiterated the claim that "none of the Congress MLAs had accepted the offer".

He also accused the BJP of filing false cases against him in a bid to "remove him and overthrow his government".

The BJP has yet to respond to the allegations.

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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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