'Delhi Chalo': Farmer unions accept Modi govt's offer to hold talks over agri laws

News Network

December 1, 2020

New Delhi, Dec 1: Farmer unions on Tuesday decided to attend a meeting with the Centre as protesters continued their agitation at Delhi border points against the government's new farm laws.

Agriculture Minister Narendra Singh Tomar on Monday had invited leaders of farmer unions for talks on Tuesday, instead of December 3, citing the COVID-19 pandemic and cold.

"In our meeting, we have decided to accept the central government's offer to hold talks at 3 pm today. Representatives of protesting farmers will attend the meeting with Union ministers," farmer leader Baljeet Singh Mahal said.

Thousands of farmers stayed put at various Delhi border points for the sixth consecutive day on Tuesday protesting against the new farm laws, which they fear will dismantle the minimum support price system and corporatise farming.

The meeting has been called at 3 pm on December 1 at Vigyan Bhawan in the national capital, Tomar said, adding that those leaders who were present in the meeting held on November 13 have been invited this time.

On Monday, the farmers said that they have come to the national capital for a "decisive battle" and urged Prime Minister Narendra Modi to listen to their "mann ki baat".

They said that they will continue their agitation until their demands are met.

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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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