Republic Day parade under unprecedented security cover

Agencies

January 26, 2018

New Delhi, Jan 26: Amid an unprecedented security cover, celebrations for the 69th Republic Day began on the Rajpath here today in the presence of the leaders of 10 ASEAN nations who are attending the event as chief guests.

Prime Minister Narendra Modi paid his tributes to the martyrs by laying a wreath at Amar Jawan Jyoti in the presence of Defence Minister Nirmala Sitharaman and the three service chiefs.

Later Modi, wearing a saffron, red and green coloured safa, reached the Rajpath and received and greeted President Ram Nath Kovind.

Most of the ministers of the Modi government including Home Minister Rajnath Singh, Finance Minister Arun Jaitley, Health Minister J P Nadda, Information and Broadcasting Minister Smriti Irani, Law Minister Ravi Shankar Prasad and Environment Minister Harsh Vardhan were among those present on the occasion.

BJP president Amit Shah was present too.

The ASEAN leaders, here to attend the India-ASEAN Commemorative Summit, are the chief guests at the Republic Day parade which was termed by Prime Minister Narendra Modi as "historic and unprecedented".

The ASEAN, founded in 1967, comprises Thailand, Vietnam, Indonesia, Malaysia, the Philippines, Singapore, Myanmar, Cambodia, Laos and Brunei.

The ASEAN leaders attending the parade are Singaporean Premier Lee Hsien Loong Brunei's Sultan Haji Hassanal Bolkiah, Indonesian President Joko Widodo, Philippines President Rodrigo Roa Duterte, Cambodian Prime Minister Hun Sen, Malaysian Prime Minister Najib Razak, Thailand's Prime Minister General Prayut Chan-o-cha, Myanmar's State Counsellor Aung San Suu Kyi, Vietnamese Prime Minister Nguyen Xuan Phuc and Lao PDR's Prime Minister Thongloun Sisoulith.

Twenty-three tableaux, including those representing various states, ministries, the All India Radio (AIR) among others, will roll down the Rajpath.

Public broadcaster Doordarshan has 38 cameras installed for the coverage of the celebrations. For the first time, six cameras have been deployed for coverage beyond India Gate.

The parade commenced amid a heavy security blanket with thousands of security personnel, anti-aircraft guns and sharpshooters deployed in view of the event being attended by ASEAN leaders.

Cold weather conditions and dense fog failed to dampen the spirits of those who came to watch the parade.

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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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