- Thursday, December 26, 2024
By: Shubham Ghosh
HERE are news in brief related to Indian economy and business for Friday, November 24, 2023:
The Supreme Court of India on Friday said it has no reason to “discredit” India’s market regulator SEBI (Securities & Exchange Board of India), which probed allegations against the Adani Group, as there was no material before it to doubt what the market regulator has done, and the court does not have to treat what was set out in the Hindenburg report as a “true state of affairs”. A bench headed by Chief Justice D Y Chandrachud, which reserved its order on a batch of pleas concerning the Adani-Hindenburg row on allegations of stock price manipulation, said it cannot ask a statutory regulator to take as a “gospel truth” something which was published in the media.
Sanjay Singh, a leader of India’s Aam Aadmi Party arrested in a money-laundering case linked to the alleged Delhi excise scam, on Friday moved a court here seeking bail, his lawyer said. The application was filed in the Rouse Avenue Court’s registry and is likely to come up for hearing on Saturday (25), advocate Mohd Irshad said. Special judge M K Nagpal, meanwhile, extended Singh’s judicial custody till December 4. Singh was produced before the court on expiry of his judicial custody granted earlier. The court passed the order on the request of the Enforcement Directorate, India’s economic intelligence agency. The judge also noted the submission of the investigating officer that the charge sheet against the accused is likely to be filed shortly and within prescribed time.
The Reserve Bank of India (RBI) on Friday superseded the board of directors of Abhyudaya Cooperative Bank Ltd for a period of 12 months. Consequently, the RBI has appointed Satya Prakash Pathak, former chief general manager of State Bank of India as the “administrator” to manage the affairs of the bank during this intervening period. The central bank has also appointed a “committee of advisors” to assist the administrator in discharging his duties. “The members of the Committee of Advisors are Shri Venkatesh Hegde (former General Manager, SBI); Shri Mahendra Chhajed (Chartered Accountant); and Shri Suhas Gokhale (former MD, COSMOS Co-operative Bank Limited),” the RBI said in a statement.
Apple’s cyber security executives from the US are expected to meet officials of CERT-In in November regarding the show cause notice issued to the company in the wake of several opposition MPs receiving a warning notification on their iPhones. Last month, several opposition leaders claimed they have received an alert from Apple warning them of “state-sponsored attackers trying to remotely compromise” their iPhones and alleged hacking by the government. CERT-In, which comes under India’s ministry of electronics and information technology, had issued a show cause notice to Apple in this regard. On Friday, minister of state for electronics and IT Rajeev Chandrasekhar said that Apple has to reply to the notice which needs to be done by their global cyber security team.
IndiGo will be the first airline to start flights from Noida International Airport, which is scheduled to be operational by the end of 2024, according to a statement. Noida International Airport (NIA) on Friday signed a memorandum of understanding (MoU) with IndiGo — the country’s largest airline — which has agreed to become the launch carrier for the airport, the statement said. Under the MoU, signed in Delhi, NIA and IndiGo will work together towards developing and strengthening air connectivity in Uttar Pradesh and beyond. The greenfield airport is located in the Jewar area of Gautam Buddh Nagar district in western Uttar Pradesh, about 75 kilometres from Delhi.
(With agencies)
