Allahabad HC questions personal bonds sought from agitating farmers

Agencies

January 28, 2021

Allahabad, Jan 28: The Allahabad High Court has sought a response from the district administration in Uttar Pradesh's Sitapur on the "exorbitant" amount of personal bonds and sureties sought from farmers, to prevent them from participating in the ongoing farm protests.

A division bench of Justices Ramesh Sinha and Justice Rajeev Singh sought the reply on a PIL plea filed by Lucknow-based social activist Arundhati Dhuru.

Dhuru said in the petition that Sub-Divisional Magistrates (SDMs) in various districts of the state, including Sitapur, had issued notices to thousands of farmers under Section 111 of the CrPC. The farmers were informed that the police suspected that they may get involved in the ongoing farmers protest and commit breach of peace.

Dhuru said that several orders were passed on December 19 by SDMs of the different areas of the district, issuing notices to farmers, including women, calling them to furnish personal bonds of Rs 50,000 to Rs 10 lakh and two sureties in the like amount, on apprehension that he or she would violate the law and order in the light of the ensuing farmers protest in the district.

The court has asked the administration under what circumstances farmers were asked to furnish such "exorbitant" amount of personal bond and two sureties. The matter would be heard on February 2.

The petitioner's counsel submitted that notices were not only baseless but also took away the fundamental rights of a person, as farmers were not allowed to come out of their houses.

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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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