‘Any kind of outburst against Pakistan is welcome’: Speaker U T Khader defends Yatnal in Assembly

News Network

February 29, 2024

Bengaluru, Feb 29: Karnataka Speaker U.T. Khader said in the Assembly on Wednesday that he will permit any kind of outburst and usage of words against Pakistan and its "sympathisers".

He made the statement when Congress MLAs objected to the alleged usage of objectionable words by BJP legislator Basanagouda Patil Yatnal against whom he falsely accuses as "Pakistani sympathisers".

Yatnal was speaking about incident of incident wherein BJP falsely accuses Congress workers of raising of pro-Pakistan slogans while celebrating Syed Naseer Hussain's Rajya Sabha election victory.

Basavaraj Rayareddi, Special Economic Advisor to the CM, Congress MLAs Asif Sait and P.M. Narendra Swami stood up, and objected to the alleged expletives used by Yatnal.

Speaker Khader intervened and said that "Yatnal has been addressing those who are with Pakistan and there is no need for them to get worked up".

"I allow any word and any outburst against Pakistan and sympathisers of Pakistan," said Khader and asked Yatnal to continue his speech.

Yatnal thanked him, saying his party's legislators always appreciated him for his patriotic stands towards the country.

"Few like you are patriotic," he stated.

Speaker Khader then said that "those elected to this house are all patriots".

Basavaraj Rayareddi stated that the Rule Book of the house does not permit use of certain objectionable words and if those words are permitted, "what is the rule book for"? To this, Khader said "the house cannot be run on the rule book".

"We will make you the Speaker... do try to run the house as per the rule book, and you will understand," he stated.

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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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