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31 Mar, 2023
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Gautam Adani

Gautam Adani: ‘It Wouldn’t be Morally Correct to Proceed with FPO’

Gautam Adani: ‘It Wouldn’t be Morally Correct to Proceed with FPO’

On Thursday, while addressing the investors, Gautam Adani said that it would not be ‘morally correct‘ to go ahead with the 20,000-crore share of Adani Enterprises in the current market condition. Gautam Adani recently decided not to go ahead with the fully subscribed Follow-on Public Offer (FPO). “After a fully subscribed FPO, yesterday’s decision of its withdrawal would have surprised many. But considering the volatility of the market seen yesterday, the board strongly felt that it would not be morally correct to proceed with the FPO,” said Gautam Adani in his address to investors after the withdrawal of FPO. While assuring investors, Gautam Adani further added: “Our balance sheet is healthy and assets, robust. Our EBIDTA levels & cash flows have been very strong & we’ve an impeccable track record of fulfilling our debt obligations. We’ll continue to focus on long-term value creation & growth will be managed by internal accruals,” The Adani Group, led by Gautam Adani, have been under pressure in recent days due to concerns over the US-short seller Hindenburg Research’s report. The Hindenburg Research has accused the Adani Group of brazing market manipulation and accounting fraud, setting off an intense fall in the Adani Group’s stocks. Gautam Adani has repeatedly denied the allegations, and his conglomerate has called the report bogus.  

Kerala Journalist Siddique Kappan, Who reported Hathras Gang Rape Case, Leaves UP Jail After 2 Years

Two years ago, Siddique Kappan, a journalist from Kerala, was arrested in Uttar Pradesh while reporting on the Hathras gang rape case, which sparked nationwide protests. “I will continue my fight against draconian laws. They kept me in jail even after I got bail… 28 months after a long fight. I don’t know who’s benefiting from my being in jail. These two years were very tough, but I was never afraid,” said Siddique Kappan. The journalist was arrested in October 2020 when he was on his way to Uttar Pradesh’s Hathras to report on the alleged rape and murder of a 20-year-old Dalit woman. The state police arrested him, saying he was going there to create unrest. Mr Kappan was accused of sedition and charged under the UAPA Act. In February 2022, the ED filed a money laundering case against him and accused Mr Kappan of receiving money from the banned People’s Front of India. However, Siddique Kappan has denied all charges and said he was on his way to Hathras for journalistic work.  

NSA Ajit Doval Meets US Secretary of State Antony Blinken To Deepen Bilateral Strategic Partnership

National Security Advisor Ajit Doval recently met US Secretary of State Antony Blinken to exchange views on a wide range of global and regional issues. They also discussed deepening India-US strategic partnership. After the meeting, Mr Blinken said: “The United States is expanding cooperation with India to address global challenges. I had a good meeting with Indian National Security Advisor Ajit Doval today to discuss deepening our strategic partnership,” Mr Doval is India’s high-powered delegation to the US. He also met his American counterpart Jake Sullivan on Tuesday. During the meeting, India and US achieved a new milestone by launching the Critical and Emerging Technology or iCET. “iCET aims to position the two countries as trusted technology partners by building technology value chains and supporting the co-development and co-production of items. It also aims to address regulatory restrictions, export controls and mobility barriers through a standing mechanism,” said the Embassy. 

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