Terrorism, sedition charges framed against Asiya Andrabi

Agencies

February 23, 2021

Srinagar, Feb 23: Terrorism and sedition charges have been framed against Kashmiri separatist and Dukhtaran-e-Millat Chief Aasiya Andrabi for allegedly conspiring to commit terror acts and waging war against the country with support from Pakistan.

On February 20, Andrabi and two of her associates -- Sofi Fehmeeda and Nahida Nasreen -- were put on trial by Special Judge Parveen Singh of Patiala House Court for offences punishable under Unlawful Activities (Prevention) Act and Indian Penal Code.

The Special Judge framed charges for offences such as criminal conspiracy, waging war against the government, conspiracy to wage war against government, sedition, promoting enmity, imputations prejudicial to national-integration and public mischief under the IPC.

It further framed charges for attempts to commit, or incite terror act, being member of terrorist gang, support to a terrorist organisation under Unlawful Activities (Prevention) Act.

Andrabi accused of being involved in conspiracy and acts to severely destabilize the sovereignty and integrity of India, along with her two other women associates. The trio was arrested in 2018.

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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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