US President Joe Biden announced on Sunday that he had granted a pardon to his son, Hunter Biden, who was convicted of making false statements on a gun background check and illegally possessing a firearm. Hunter Biden had also pled guilty to federal tax charges, admitting to failing to pay $1.4 million in taxes. President Biden expressed that his decision to pardon his son came after years of what he described as unfair, politically motivated prosecution. Biden stated that he had pr

Former Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy has responded strongly to the allegations made by the United States government regarding bribery linked to a 2021 power deal involving the Adani Group. According to Reddy, the meeting he had with Adani Group Chairman Gautam Adani was not indicative of any wrongdoing, explaining that such meetings are part of his role as chief minister to foster business relationships and attract investments to the state. Reddy clarified tha

The Indian Ministry of External Affairs (MEA) has clarified that the government has not received any communication from the United States regarding the Adani Group. In its weekly briefing, MEA spokesperson Randhir Jaiswal rejected media reports about the US summoning Adani Group Chairman Gautam Adani and other executives. He emphasized that the issue is a private legal matter involving individuals and the US Department of Justice, with no prior notification sent to the Indian government.

The Finance Ministry is set to review the windfall tax on fuel exports, including petrol, diesel, and Aviation Turbine Fuel (ATF), following the stabilization of global crude oil prices. The tax, introduced in July 2022, was implemented to address the substantial profits earned by oil refiners exporting fuel, which had an impact on domestic supplies. The review will assess the tax’s effectiveness and the revenue it has generated, with the Ministry of Petroleum and Natural Gas already re

On Thursday, both houses of the Indian Parliament were temporarily suspended as opposition lawmakers disrupted proceedings for the third consecutive day, demanding a discussion on the serious bribery allegations against the Adani Group. U.S. authorities have accused Gautam Adani, his nephew Sagar Adani, and Adani Green’s managing director Vneet S. Jaain of paying $265 million in bribes to secure Indian solar power supply contracts. Additionally, they are accused of misleading U.S. inves

The bribery allegations involving business tycoon Gautam Adani and Andhra Pradesh former Chief Minister Jagan Mohan Reddy, amounting to Rs 1750 crores, have led to widespread criticism, especially from Jagan's own sister, YS Sharmila. Sharmila has raised suspicions about her brother's involvement in the scandal, which was highlighted by the U.S. Department of Justice. Sharmila challenged Jagan's responses to the allegations, accusing him of evading questions regarding th

Norwegian diplomat and former UN Environment Programme Executive Director Erik Solheim has strongly criticized the US government's recent report regarding the Adani Group, calling it a case of "American overreach." The report alleges that certain individuals linked to the Adani Group discussed bribes to secure solar energy contracts in India, but Solheim pointed out that the allegations lack evidence of actual bribe payments or involvement from the Adani Group’s top leader

A major legal battle is unfolding as Gautam Adani, the Indian business magnate, and several of his associates face a $265 million bribery charge in the United States. This indictment, which also implicates his nephew Sagar Adani and executives from an Indian renewable-energy company, is raising significant questions about the extraterritorial application of US laws, especially since those involved do not reside in the US. Prominent Indian-American attorney Ravi Batra highlighted the

The ongoing feud between YS Sharmila and her brother, YS Jagan Mohan Reddy, has escalated with Sharmila demanding a CBI investigation into the controversial Rs 1750 crore bribery scandal involving Jagan and industrialist Gautam Adani. In a public letter, Sharmila accused Jagan of signing a dubious power distribution deal with Adani, which she claims would burden the people of Andhra Pradesh with Rs 1.5 lakh crore over the next five years. She urged CM Chandrababu Naidu to cance

In a bold move, Telangana Chief Minister Revanth Reddy has announced that the state government will not accept a ₹100 crore donation from industrialist Gautam Adani to the Young India Skill University. This decision comes in light of the ongoing controversies surrounding Adani, including allegations of corruption and a case filed against him in the United States. The industrialist is also accused of bribing state Chief Ministers, including Andhra Pradesh’s former CM Jagan Mohan Reddy.

The Adani Group reported a record financial performance in the first half of the ongoing financial year and for the trailing twelve months, driven by its growing businesses in infrastructure, energy, and renewables. The group's net exposure to Indian banks stands at $11 billion, with equity now accounting for 63% of its total debt. This marks a reduction in the conglomerate's reliance on debt. The strong growth in the first half was fueled by Adani Enterprises' solar and

Kanwal Sibal, the former Foreign Secretary of India, has strongly criticized a report from a US government department regarding the Adani Group, describing it as a violation of India's sovereignty. Sibal condemned the US for overstepping its bounds, arguing that any investigation conducted on Indian soil by US authorities would breach Indian law. He emphasized that if the US had evidence of illegal activity, it should have shared its findings with Indian authorities instead of taking unil

In a major setback for Indian billionaire Gautam Adani, the founder of the Adani Group, and seven others have been indicted in the United States for their involvement in a multibillion-dollar bribery and fraud scheme. The charges allege that the Adani Group bribed Indian officials, particularly in Andhra Pradesh, to secure lucrative solar energy contracts, while defrauding US investors and financial institutions to gain funds. The indictment reveals that Gautam Adani, along with his

Eating ginger every day for a month can offer a range of health benefits, thanks to its natural compounds like gingerol, which have anti-inflammatory, antioxidant, and digestive properties. Here's a breakdown of how it can positively impact your body: 1. Anti-inflammatory Effects Ginger has strong anti-inflammatory properties that can help reduce chronic inflammation in the body. Regular consumption can be particularly beneficial for conditions like

The Solar Energy Corporation of India (SECI) has issued a show-cause notice to Reliance Power Ltd. for allegedly submitting a fake bank guarantee in a recent tender bid. The bid, submitted by Reliance NU BESS, a subsidiary of Reliance Power, was for the establishment of a 1,000 MW/2,000 MWh energy storage system. SECI’s investigation revealed that the bank guarantee, purportedly issued by FirstRand Bank’s Manila branch, was fraudulent, as no such branch

Solar Energy Corporation of India Ltd. (SECI) has debarred Reliance Power Ltd. and its subsidiary Reliance NU BESS Ltd. (formerly Maharashtra Energy Generation Ltd.) from bidding in any future SECI tenders for the next three years. This decision comes after SECI discovered that the company had submitted fake bank guarantees during the bidding process for a 1 gigawatt solar power and 2 gigawatt battery energy storage system project. The Incident: Fake Bank Guarantees in SECI Tender

Adani Enterprises Ltd. (AEL) reported a substantial 664% increase in its consolidated net profit for the September quarter, reaching ₹1,742 crore, compared to ₹228 crore in the same period last year. The company’s revenue from operations also rose by 16%, totaling ₹22,608 crore, up from ₹19,546 crore in the previous year. Stock Performance and Metrics Following the earnings announcement, shares of Adani Enterprises rose by 2% to ₹2,849. The

The ambitious rebuilding of the Amaravati capital project has resumed after a five-year hiatus, fueled by the renewed leadership of Chandrababu Naidu under the NDA government. With significant financial backing, the project is set to gain momentum once again. Chandrababu has successfully secured Rs 15,000 crore in financing through the World Bank and an additional Rs 11,000 crore from HUDCO. In a significant development, the deep-pocketed Adani Group has also come on board to bolste

In a positive sign for the Indian economy, the Goods and Services Tax (GST) collections for September 2023 increased by 6.5% year-on-year, totaling ₹1.73 lakh crore. This marks a rise from ₹1.63 lakh crore collected in September of the previous year. The net GST collection after refunds stood at ₹1.53 lakh crore, showing a growth of 4% compared to ₹1.47 lakh crore in September 2022. So far this fiscal year, the government has recorded a gross GST revenue of ₹10.87 lakh cro

A panel of state ministers, established by the Goods and Services Tax (GST) Council, is set to convene in Goa on September 24 and 25. This six-member group, led by Bihar Deputy Chief Minister Samrat Chaudhary, will review the implications of rate rationalization on at least 100 items. The discussions aim to analyze potential changes in GST slabs and rates, particularly focusing on essential goods. During the two-day meeting, the panel will explore various