FIR filed against Mangaluru BJP MLAs for allegedly forcing students to chant ‘Jai Shri Ram’ at school

News Network

February 15, 2024

Mangaluru, Feb 15: A case has been registered by the police against five people, including two BJP MLAs, for allegedly inciting people and forcing students of the St Gerosa school in the city to chant ‘Jai Shri Ram’ slogans.

Police sources on Thursday said the FIR, filed at the Mangaluru South police station, has named Mangaluru South MLA Vedavyas Kamath, Mangaluru North MLA Y Bharat Shetty, city corporators Sandeep Garodi, Bharat Kumar and Bajrang Dal leader Sharan Pumpwell as the accused.

The protesters were also accused of instigating enmity between the Christian and Hindu communities by directing their slogans against Christianity during the protest on February 12.

Considering the sensitivity to communal issues in Dakshina Kannada district, such actions could have created law and order issues, police said.

The case has been registered under sections 143, 153A, 295A, 505(2), 506 and 149 of the Indian Penal Code (IPC).

The management of St Gerosa English higher primary school told the police that Kamath initiated a protest in front of the school without seeking clarification from them. It is alleged that students were forced to chant ‘Jai Shri Ram.’

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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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