Steve Smith steps down from Rajasthan Royals' captaincy, Ajinkya Rahane to lead

Agencies

March 26, 2018

New Delhi, Mar 26: Australian skipper Steve Smithtoday decided to step down from Rajasthan Royals' captaincy in the wake of severe backlash he has faced after admitting to ball tampering during the third Test against South Africa.

India's Test vice-captain Ajinkya Rahane will now lead the franchise in the upcoming 11th edition of Indian Premier League as Cricket Australia is mulling harsher sanctions despite a one-Test ban by the ICC.

The decision was on expected lines the moment Cricket Australia indicated that harsher penalty was on cards for Smith and Co for their role in an episode that has shaken Australian sporting fraternity.

"Steve believes given the current circumstances 'It's in the best interest of the Rajasthan Royals that he steps down as Captain so the team can get ready for the start of the IPLwithout the ongoing distractions.' He would like to extend his gratitude to the BCCI officials and all the fans in India for their constant support," Rajasthan Royals' head of cricket Zubin Bharucha was quoted as saying in a media release.

"The incident in Cape Town has certainly disturbed the cricketing world. We have been in constant touch with the BCCI and taken their counsel. Furthermore we have been in regular contact with Steve," he added.

Royals' mentor and former skipper Shane Warne was in Cape Town and it is understood that Warne must have also had a chat with the Australian captain.

About Rahane, who has been a stellar performer for Royals before their two-year ban, Bharucha said: "Ajinkya Rahane has been an integral part of the Royals family for a long time now and he understands the culture and values of our team. We have absolutely no doubt that he will be a great leader of the Rajasthan Royals."

Co-owner Manoj Badale said: "Rajasthan Royals will do everything possible to protect the values and the integrity of the game. We agree with Steve's decision to step down as captain, and we are fortunate to have such a capable successor with Ajinkya Rahane. It is important that all cricket fans retain a balanced perspective on the situation.

"What happened in South Africa was clearly wrong, especially given that it appears to have been pre-meditated. That said, this will be a difficult time for Steve as well, given how much he cares about the game." said Manoj Badale, the co-owner of Rajasthan Royals.

Rajasthan Royals will launch their season with an away fixture against Sunrisers Hyderabad on April 9th followed by their first home game in Jaipur on April 11 against the Delhi Daredevils at Sawai Mansingh stadium.

Ranjit Barthakur, Executive Chairman, Rajasthan Royals, said, "Ajinkya Rahane has stepped up as a leader whenever he has been given the opportunity, be it for Team India or at Rajasthan Royals. We consider him the right candidate to lead the side this crucial season when the team is coming back to the IPL after two years. We wish him all the best."

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Waqf row: BJP stages ‘our land, our right’ protest across Karnataka for second day

News Network

November 22,2024

Bengaluru, Nov 22: For the second day running, the Karnataka BJP on Friday staged a statewide protest condemning the government’s alleged move to notify land of farmers as Waqf property.

The BJP staged a protest before the offices of Deputy Commissioners at district headquarters.

The BJP leaders are vehemently demanding that the state government cancel a 1974 Gazette notification in this regard.

The agitators are also demanding scrapping of the Waqf Board and the resignation of Chief Minister Siddaramaiah and Minister for Waqf and Housing Zameer Ahmad Khan.

The BJP MLAs, MLCs, MPs gathered in the premises of Freedom Park and staged a protest under the leadership of Leader of Opposition R. Ashoka and slammed the state government.

MLA T.S. Srivatsa led the protest in Mysuru and hundreds of party workers and farmers staged the protest under the leadership of former MP Pratap Simha in Kodagu.

Former MP Sumalatha Ambareesh led the agitation in Mandya.

This was the first time that Sumalatha took part in the party’s programme after the Lok Sabha elections.

State President B.Y. Vijayendra claimed, “The Congress government in Karnataka is issuing notices to farmers claiming the ownership of their lands to the Waqf Board and pushing them on the streets overnight.”

In the first week of December, three teams formed by the BJP will travel across the state and record the grievances of farmers.

“The state government is attempting to snatch away the lands belonging to temples as well,” Vijayendra alleged and added that the teams would comprise all senior leaders of the BJP.

Meanwhile, the police have taken Sri Ram Sena chief Pramod Muthalik into custody while staging a protest march to the office of Zameer Ahmad Khan in Bengaluru.

Muthalik along with Hindutva activists was planning to lay siege to Zameer’s office over the Waqf row.

The police stopped Muthalik and requested him to submit the memorandum by reaching the minister’s office in a vehicle. However, Muthalik refused to go with the police and continued his footmarch. The police took him into custody following arguments.

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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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