Chautalas sent to jail for 10 years, supporters throw bombs

January 22, 2013

New Delhi, Jan 22: Former Haryana CM Om Prakash Chautala and his son Ajay Chautala were sentenced to 10 years in jail in teachers recruitment scam on Tuesday.

The other three main accused Sanjiv Kumar, Vidya Dhar and Sher Singh Badshami were also awarded 10 years in jail in the case.

Shortly after the sentence was pronounced, protestors threw stones and crude bombs into the court complex.

Thousands of supporters of INLD Chief Om Prakash Chautala clashed with police which used batons and teargas to control them outside the court which was set to pronounce its sentence against the Chautalas and their assocaites.

The supporters had gathered outside the complex in the early hours and clashed with police after it prevented them from entering the court complex. The police used batons and teargas to control the supporters.

Security has been tightened around the complex and entry has been restricted in the court. The court work was also affected and lawyers faced problems getting in.

On January 16, the court had held 78-year-old Om Prakash Chautala, his son Ajay Chautala and 53 others guilty of illegally recruiting 3,206 junior basic trained (JBT) teachers in the state in 2000.

They have all been held guilty of cheating, forgery, using fake documents as genuine, conspiracy under the IPC and for abusing their official position under the Prevention of Corruption Act.

The number of supporters, including women, stretched for nearly a kilometre from the court complex with several of them also climbing onto the walls of the premises. Some supporters were also present outside the court room where all the accused, barring Om Prakash Chautala have been produced.

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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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