Tens of thousands of members of India’s main opposition party were taking part in nationwide protests against the scandal-hit billionaire Gautam Adani on Monday.
Senior leaders and party workers from the Indian National Congress staged demonstrations outside the offices of the State Bank of India and the Life Insurance Corporation over concerns the two organisations had invested billions of rupees in Adani conglomerates.
The Adani Group was last month accused by US-based short-seller Hindenburg Research of stock manipulation, unsustainable debt and use of tax havens. Since then, Adani shares have been in free fall, with the conglomerate's cumulative market value loss topping $110 billion.
Protesters in southern Hyderabad city gathered outside the State Bank of India headquarters chanting “Adani Go Away”, against the conglomerate and Prime Minister Narendra Modi’s government.
In western Rajasthan's Jaipur, several party workers carried banners and demanded an investigation into the controversy.
Rallies were also held in capital Delhi, financial capital Mumbai and Thiruvananthapuram in Kerala, among other cities.
Some MPs also protested outside parliament.
“The house should come forward to discuss the matter keeping aside other routine business, and should constitute a Joint Parliamentary Committee to investigate further in this matter,” Congress member Manickam Tagore said.
Mr Tagore also demanded that parliament direct Mr Modi to “disclose the actual loss of public money” to the nation through this house.
Parliamentary proceedings were again adjourned on Monday after opposition parties stepped up pressure on Mr Modi's government for a joint parliamentary investigation into allegations of purported corporate malpractice, “brazen” market manipulation and accounting fraud in Mr Adani's port-to-energy business empire.
Last week, protests and sloganeering over the alleged fraud had led to repeated adjournments of parliament.
The Adani Group has received billions of dollars in investment from public-sector entities such as the State Bank of India and the country’s largest insurance company, Life Insurance Corporation of India, triggering fears that the slump in its shares over the past week will affect millions of small Indian investors.
Earlier in the day, 16 opposition parties had met to discuss their strategy before parliamentary proceedings resumed.
The protests come days after India's Finance Minister Nirmala Sitharaman last week said regulators would do their job on the fraud allegations against the Adani Group without interference from the government.
She also insisted public sector institutions were sitting on profits and that the country had a robust financial regulatory system.
Shares of Adani Group firms fell further on Monday — those of Adani Enterprises slumped by 9.50 per cent.
Mr Adani has repeatedly denied the allegations against him.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
MATCH INFO
Manchester United 2
(Martial 30', McTominay 90 6')
Manchester City 0
Usain Bolt's time for the 100m at major championships
2008 Beijing Olympics 9.69 seconds
2009 Berlin World Championships 9.58
2011 Daegu World Championships Disqualified
2012 London Olympics 9.63
2013 Moscow World Championships 9.77
2015 Beijing World Championships 9.79
2016 Rio Olympics 9.81
2017 London World Championships 9.95
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Mia Man’s tips for fermentation
- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
MATCH INFO
Alaves 1 (Perez 65' pen)
Real Madrid 2 (Ramos 52', Carvajal 69')
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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%3Cp%3EEtihad%20Airways%20operates%20seasonal%20flights%20from%20Abu%20Dhabi%20to%20Nice%20C%C3%B4te%20d'Azur%20Airport.%20Services%20depart%20the%20UAE%20on%20Wednesdays%20and%20Sundays%20with%20outbound%20flights%20stopping%20briefly%20in%20Rome%2C%20return%20flights%20are%20non-stop.%20Fares%20start%20from%20Dh3%2C315%2C%20flights%20operate%20until%20September%2018%2C%202022.%C2%A0%3C%2Fp%3E%0A%3Cp%3EThe%20Radisson%20Blu%20Hotel%20Nice%20offers%20a%20western%20location%20right%20on%20Promenade%20des%20Anglais%20with%20rooms%20overlooking%20the%20Bay%20of%20Angels.%20Stays%20are%20priced%20from%20%E2%82%AC101%20(%24114)%2C%20including%20taxes.%3C%2Fp%3E%0A%3Cp%3E%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
