Vijay Mallya case documents mysteriously go missing in SC; next hearing Aug 20

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.

Gaza health authorities say Israel’s military has "erased” over 1,400 Palestinian families in the besieged territory over the past year.

The Health Ministry said in a statement on Tuesday that the Israeli regime "completely erased about 1,410 families, numbering 5,444 people, from the civil registry during the same period.”

It said that there were 3,463 families with only one survivor, while 2,287 families had more than one survivor.

In northern Gaza, Israel’s warplanes have continued dropping bombs over Palestinian families, Palestinian news agency Wafa reported.

It said one airstrike hit a family home in Jabalia, causing numerous casualties on Tuesday.

According to Gaza's civil defense agency, at least seven people were killed and several others wounded in the attack.

Another person was killed in a strike on a house in nearby Beit Lahia, a town in northern Gaza, which has been declared “a disaster area" by the municipality due to "the Israeli war of extermination and siege, and it has no food, water, hospitals, doctors, services, or communications."

The health ministry said, “Israeli forces killed 14 people and injured 108 others in three massacres of families in the last 24 hours.”

“Many people are still trapped under the rubble and on the roads as rescuers are unable to reach them.”

International organizations and leaders believe that Israel’s genocidal war, now in its second year, is a deliberate attempt to destroy the population of Gaza.

New DelhiI: The Supreme Court on Friday asked the Sambhal Shahi Jama Masjid committee to approach the Allahabad High Court and told the district court not to act until then upon a survey ordered on a claim of the mosque having built on a pre-existing temple.

A bench of Chief Justice of India Sanjiv Khanna and Sanjay Kumar directed Uttar Pradesh to maintain peace and harmony in the area, where four protesters were killed during the heavy stone pelting. The court also ordered the survey report of the advocate commissioner's report should be kept in sealed cover.

"We don't want anything to happen in the meanwhile...Let them (Shahi Jama Masjid committee) exercise appropriate remedies. We will keep this pending," the bench said.

Advocate Vishnu Shankar Jain, appearing for plaintiff Hari Shankar Jain and others submitted the next date of hearing has been fixed for January 8 before the civil judge (senior division).

Senior advocate Huzefa Ahmadi, appearing for the petitioner committee, contended the order is capable of great public mischief. He said as of 10 such suits are pending across the country where the survey is sought to be conducted.

"We hope and trust the trial court will not take any proceedings...We have not expressed any opinion on merits," the bench said, fixing the matter for consideration in the week commencing on January 6.

In case any revision application is filed, it should be heard within three days before the High Court, the bench ordered.

At the outset, the bench said it had some reservations with the order passed by the Civil Judge (senior division) on November 19.

The court told the Uttar Pradesh government represented by Additional Solicitor General K M Nataraj that the district administration has to remain neutral and maintain peace in the area.

The court directed the plaintiff not to file any papers.

It also ordered the advocate commissioner's report should be kept in a sealed cover.

The petitioner committee questioned the validity of the survey ordered within a short period, triggering violence in the area and leading to the death of four protestors.

The plea filed by the Committee of Management, Shahi Jama Masjid, Sambhal claimed "the hot haste" in which the survey was allowed and conducted all within a day and suddenly another survey was conducted after a couple of days with a notice of barely six hours that had given rise to widespread communal tensions and threatened the secular and democratic fabric of the nation.

The survey was ordered by a civil judge (senior division) on a suit filed by advocate Hari Shankar Jain and others.

According to the plaintiffs, Shahi Jama Masjid at Chandausi was built by Mughal emperor Babar in 1526 after demolishing the Shri Harihar temple.