Month: January 2023

Adani Group May Sue Hindenburg for 'damning' report

Adani Group Considering Legal Action Against Hindenburg

By LokMarg

Adani Group on Thursday said it is considering legal options in the US and India against Hindenburg Research after its report accused firms owned by Gautam Adani of “brazen” market manipulation and accounting fraud.

Jatin Jalundhwala, Group Head – Legal, Adani Group, said, “The maliciously mischievous, unresearched report published by Hindenburg Research on 24 January 2023 has adversely affected the Adani Group, our shareholders and investors.”

The legal head said, “We (the Group) are evaluating the relevant provisions under US and Indian laws for remedial and punitive action against Hindenburg Research.”

“The volatility in Indian stock markets created by the report is of great concern and has led to unwanted anguish for Indian citizens,” the legal head said in a statement on Thursday.

Hindenburg, an US investment research firm published a report claiming that Adani group had links with a labyrinth of off shore tax havens linked to Gautam Adani’s family and the firms exposure to high debt was a concern. The report also claimed that Adani group’s stock price was inflated and had significant downside risks.

On the report affecting Adani shares, Jatin Jalundhwala said, “Clearly, the report and its unsubstantiated contents were designed to have a deleterious effect on the share values of Adani Group companies as Hindenburg Research, by their own admission, is positioned to benefit from a slide in Adani shares.”

Jalundhwala also mentioned Hindenburg which said that it had taken “short positions in Adani Group Companies through US-traded bonds and non-Indian-traded derivatives, along with other non-Indian-traded reference securities.”

The Adani group’s legal head said, “We are deeply disturbed by this intentional and reckless attempt by a foreign entity to mislead the investor community and the general public, undermine the goodwill and reputation of the Adani Group and its leaders, and sabotage the FPO (Follow-on Public Offering) from Adani Enterprises.”

Jugeshinder Singh, the chief financial officer (CFO) of the Adani Group, on Wednesday said the conglomerate was “shocked” by the Hindenburg Research’s report and termed it a “malicious combination of selective misinformation and stale, baseless and discredited allegations that have been tested and rejected by India’s highest courts”.

Reportedly, the research firm, in its report on Tuesday, raised concerns about shares of Adani group companies having a possibility of declining from their current levels, owing to high valuations.

“We are shocked that Hindenburg Research has published a report on January 24, 2023, without making any attempt to contact us or verify the factual matrix. The report is a malicious combination of selective misinformation and stale, baseless and discredited allegations that have been tested and rejected by India’s highest courts,” the CFO said in a statement.

The timing of the report by Hindenburg Research, the CFO, in his statement, said “clearly betrays a brazen, mala fide intention to undermine” the Adani Group’s reputation with the “principal objective of damaging” the upcoming Follow-on Public Offering from Adani Enterprises, the biggest FPO ever in India. (ANI)

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COVID Cases in China

World Has No Faith In Chinese Covid Figures: Report

By LokMarg

There is great skepticism about the COVID data released by China and the World Health Organization (WHO) recently accused it of underplaying the seriousness of the pandemic by concealing the true nature of the situation in the country, the Hong Kong Post reported.

A senior WHO official, as quoted by The Hong Kong Post, had said: “China’s COVID data is not giving an accurate picture of the situation there and it under-represents the number of hospitalizations and deaths from the disease.”

Emergencies Director of WHO Mike Ryan said: “We believe the current numbers being published from China under-represent the true impact of the disease in terms of hospital admissions, in terms of ICU admissions, particularly in terms of death.”

The WHO believes that the definition of death by the Chinese government is “too narrow”.

After Beijing authorities changed their definition of COVID deaths, there is a discrepancy in the death figures claimed by the government and reports from ground. Based on the new definition, the authorities have claimed five or fewer deaths in a day. But funeral homes and hospitals in China say they are overwhelmed.

This definition has met with the scepticism of experts around the world. The WHO has defined COVID-related deaths as those resulting from a clinically compatible illness in a patient with a probable or confirmed infection when no other unrelated cause of death is involved, according to a report in The Hong Kong Post.

The report said that it is not surprising that the rest of the world is not taking the claims of the Chinese authorities at face value and have clamped strict restrictions on people travelling into different countries from China, including suspension of flights and strict Covid-19 testing requirements.

The USA, the U.K., several other European countries, among them Germany, France and Sweden, and Australia, Canada, Japan, India and South Korea, have imposed tough COVID measures on travellers from China.

Israel, Malaysia, Morocco, Qatar, and Taiwan are also among the countries that have imposed restrictions on travellers from China.

Instead of appreciating the justified apprehensions of these countries, Beijing has described these measures as politically motivated and threatened countermeasures against the countries involved.

Chinese health authorities recently said that more than 12,000 hospitalized people infected with COVID died in seven days through January 19, NHK World-Japan reported.

The Chinese Centre for Disease Control and Prevention said that 12,658 patients died in medical institutions between January 13 and 19.

According to officials, 681 people died of respiratory failure and 11,977 others died of complications, according to NHK World-Japan report. It is the first time that the Chinese government has updated official death counts in seven days. (ANI)

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American tech giant Apple, which recently pushed out iOS 16.3, the latest version of its iOS 16 OS, is now expected to launch iOS 17 this year and the leaks are already coming in.American tech giant Apple, which recently pushed out iOS 16.3, the latest version of its iOS 16 OS, is now expected to launch iOS 17 this year and the leaks are already coming in.

Apple iOS 17 To Focus Mainly On Stability And Efficiency

By LokMarg

American tech giant Apple, which recently pushed out iOS 16.3, the latest version of its iOS 16 OS, is now expected to launch iOS 17 this year and the leaks are already coming in.

According to GSM Arena, a tech-news-related website, iOS 17 will be released along with the iPhone 15 series, most likely in September, and a new report has revealed details about it.

The outlet suggests that this source, who has been reliable on occasion in the past when it comes to Apple-related things, iOS 17 will not introduce any huge visual overhauls.

In fact, you should pretty much expect it to look identical to iOS 16. Instead, the upcoming release will focus on increasing stability and efficiency and supporting Apple’s Reality Pro AR/VR headset.

To that end, iOS 17 will feature a new, dedicated app for the headset. This will allegedly be a similar concept to the Watch app, but with “significantly more features”. The Home app seems like it’s in for a revamp, with “major changes” afoot, reported GSM Arena.

Additionally, the Music app will reportedly see some changes having to do with navigation within it. The Mail app will be simplified “a bit”, and Reminders and Files will be improved, though we aren’t told how.

It looks like iOS 17 is built to run on six devices with a Dynamic Island, of which two are the already available iPhone 14 Pro and iPhone 14 Pro Max. So it seems like all four upcoming iPhone 15 models will feature the Dynamic Island, finally abandoning the notch.

According to other parts of the iOS 17 code, all four upcoming iPhones will have a USB-C port, but only two will support USB 3.2 speeds, presumably the Pro and Pro Max.

Finally, the iPhone 15 Pro Max is said to come with “more advanced” image processing software compared to the iPhone 15 Pro, and a better cooling system, as per GSM Arena. (ANI)

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Pakistan skipper Babar Azam claimed the ICC Men's ODI Cricketer of the Year Award for a second consecutive year

Pakistan’s Babar Azam Crowned ICC Cricketer Of 2023

By LokMarg

There were match-winning knocks, spell-binding stroke-play and memorable moments from a personal perspective and his team in 2022 as Pakistan skipper Babar Azam claimed the ICC Men’s ODI Cricketer of the Year Award for second consecutive year.

If you thought the Pakistan skipper had a year to remember in ODI cricket in 2021, then what he produced during 2022 was even better as the ultra-consistent right-hander maintained his lead as the No 1 ranked batter on the ICC Men’s ODI Player Rankings.

It’s a title that Babar has held firmly onto since July 2021 and in its current form, has no intention of letting go easily.

It might be surprising to note that Babar only played nine ODI matches in 2022, but the 28-year-old made them count as he smashed three centuries, a further five half-centuries and only really failed with the bat on one occasion.

And it wasn’t just from an individual level that Babar thrived, with the Pakistan captain also leading his team with aplomb and to just one loss throughout the year.

Pakistan’s sole loss in 50-over cricket last year came against Australia in Lahore and on stats alone, it was evident that Babar was an easy selection to win the coveted ICC Men’s ODI Player of the Year award in 2022.

Babar Azam put up one incredible ODI performance after another in 2022, but none more memorable or as good as the outstanding 114 against Australia in Lahore at the end of March.

It was a must-win encounter for Pakistan after they fell to a loss in the series opener against an always-difficult Australian side and Babar delivered when his country needed him most as the Asian side chased down a massive total of 349 for the loss of just four wickets and with six deliveries to spare.

Openers Fakhar Zaman and Imam-ul-Haq laid the foundation with a 118-run stand to get the run chase going before Babar put on a masterclass in chasing a total.

Walking out to bat when his team needed 231 from 187 balls, Babar almost took his side home with an exceptional display of shot-making.

He brought up his hundred from just 73 balls – his fastest ever in ODI cricket – and stuck around until the 45th over with the victory target in sight.

The rest of the batters finished the job as Pakistan recorded their highest-ever successful chase in ODIs and it was no surprise that their inspirational skipper was deservedly named Player of the Match. (ANI)

Herd Immunity

‘India Has Attained Herd Immunity; No Need To Fear Covid Variants’

By LokMarg

Dr AK Arun, a renowned public health scientist, rues that India lacks accurate data on treatment and deaths due to Covid, which would help us prepare for any future health emergency

There have been reports of a resurge of Covid cases in many countries. According to the Center for Disease Control and Prevention (CDC), the risk of the new sub-variant XBB.1.5 is rising. This is more dangerous in spreading infection than the sub-variant BF.7.

There are ten different sub-variants of SARS-CoV-2 in India and BF.7 is one of them. So far, all of the four known cases of BF.7 in India have recovered by home isolation. They did not need to be admitted to the hospital. Dr Soumya Swaminathan, chief scientist at the World Health Organization has expressed concern over XBB.1.5, another sub-variant of the omicron variant. There are more than 300 subtypes of Omicron itself, of which XBB.1.5 is a recombinant virus that can kill antibodies in the body. Therefore, there is a need to monitor the situation.

It is being said that the situation has worsened in China after the lockdown was completely lifted. Epidemiologists also blame China’s “zero Covid policy” for the resurgence of Corona infections in the country. Due to strict lockdowns, herd immunity in people could not be achieved.

India’s case is different. Over last two year when Covid infection was rampant, Indians have achieved herd immunity. Thus the chances of controlling it are high and there is no need to panic. Although the Omicron variant of Corona has been constantly mutating into new forms since last month, its deadly impact has not been witnessed in India so far.

ALSO READ: ‘If Covid Rebounds, All Must Be Treated Uniformly’

In the absence of proper protocol in the initial phase of the epidemic, doctors indiscriminately used steroids etc. Unnecessary medicines given to a Corona-affected patient were also black-marketed because the doctors themselves were not clear about what and why the medicine should be given. In most cases, the patient’s attendants were deciding whether to administer such a medicine to the patient, whatever the price. It is possible that post-Covid complications are the outcome of indiscriminate use of these medicines than the infection itself.

There have also been different viewpoints on the Covid deaths in India. Data related to any epidemic, especially a global epidemic, is important for any study. Since 2021, no concrete data has been available from government institutions. Atul Kotwal, executive director of the National Health System Resource Center, admits that there are problems with the Covid data. Dr T. Sundararaman, former executive director of the same institute, justifies the WHO figures in terms of deaths due to Corona in India. For, we lack an accurate mechanism to collect death data; only 21 per cent of the deaths are recorded by the registrar.

Another challenge is to handle the fear mongering about the Covid virus. The atmosphere of anxiety that has arisen among people post two Covid waves can lead to ill-will about certain people, places or communities. This can have serious impact on society as well the mental health of people. We must deal with this sense of stigma.

For this, we have to understand that the virus does not look at social class, race, community or nationality. In such cases, we should put ourselves in the shoes of an affected person or community. The dissemination of information must be fair and free of any bigotry.

(Dr AK Arun is a national award-winning Homeopathy practitioner and headed the research team of the Delhi Government on alternative cures for COVID-19)

As told to Abhishek Srivastava

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Conference NHRIs Of Asia Pacific

Every Citizen Has Reasons To Be Proud Of India Story: President

By LokMarg

Extending greetings to people on the eve of 74th Republic Day, President Droupadi Murmu has said that India’s journey has inspired many other nations and every citizen has reason to be proud of the Indian story.

In her address to the nation, President Murmu said the celebration of Republic Day is a celebration of what the people of the country have achieved together as a nation.
In her first address as President on the eve of Republic Day, President Murmu said India has succeeded as a democratic republic because so many creeds and languages “have not divided us but have united us”.

“On the eve of the 74th Republic Day, I extend my heartiest greetings to every Indian, at home and abroad. From the day the Constitution came into effect to the present day, it has been an amazing journey that has inspired many other nations. Every citizen has reason to be proud of the Indian Story. When we celebrate the Republic Day, we celebrate what we have achieved, together, as a nation,” she said.

The President said India is home to one of the oldest living civilisations.

“India is called the mother of democracy. As a modern Republic, however, we are young. In the early years of Independence, we faced countless challenges and adversities. Very high levels of poverty and illiteracy were just two of the many ill-effects of the long foreign rule. Yet, the spirit of India was undeterred. With hope and confidence, we began an experiment unique in the history of humankind,” she said.

“Such a vast and diverse multitude of people coming together as one nation remains unprecedented. We did so with a belief that we are, after all, one; that we are all Indians. We have succeeded as a democratic republic because so many creeds and so many languages have not divided us, they have only united us. That is the essence of India. That essence was at the heart of the Constitution, which has withstood the test of time,” she added.

The President said that the Constitution that started governing the life of the Republic was the outcome of the freedom struggle.

“The national movement, led by Mahatma Gandhi, was as much about winning Independence as about rediscovering our own ideals,” she said.

The President said those decades of struggle and sacrifice helped India win freedom not only from colonial rule but also from the imposed values and narrow world-views.

“Revolutionaries and reformers joined hands with visionaries and idealists to help us learn about our age-old values of peace, brotherhood and equality. Those who shaped the modern Indian mind also welcomed progressive ideas from abroad,” she said.

The President said a long and profound thought process culminated in Constitution.

“Our founding document is inspired by the humanistic philosophy of the oldest living civilisation in the world as well as new ideas that emerged in more recent history.”

She said the nation will always remain grateful to Dr BR Ambedkar, who headed the Drafting Committee of the Constitution, and had a critical part in giving it the final shape.

“On this day, we should also remember the role of jurist BN Rau, who had prepared the initial draft, and other experts and officers who helped in making of the constitution.”

She said the members of that assembly represented all regions and communities of India and that they included 15 women too.

“Their vision, as enshrined in the Constitution, has been continuously guiding our Republic. During this period, India has been transformed from a largely poor and illiterate nation into a confident nation marching on the world stage. This would not have been possible but for the collective wisdom of the Constitution-makers guiding our path.”

President Murmu said while Babasaheb Ambedkar and others gave the map and a moral framework, “the task of walking that path remains our responsibility.”

“We have largely remained true to their expectations, and yet we realize that much remains to be done to realize Gandhiji’s ideal of ‘Sarvodaya’, the upliftment of all. Yet, the progress we have made on all fronts is encouraging,” she said. (ANI)

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Shah Rukh's Pathaan in russia

‘Pathaan’ Opens To Bumper Success; Critics Lavish Praise

By LokMarg

Shah Rukh Khan is back! From fans to trade analysts to critics, the only words on everyone’s lips since Wednesday morning were ‘Pathaan’ and ‘SRK’!

The Shah Rukh Khan, Deepika Padukone and John Abraham-starrer released in theatres on Wednesday and drew positive word-of-mouth publicity since hitting the big screens.

Noted film critics Mayank Shekhar, Ajay Brahmatmaj and trade-analyst Taran Adarsh raved about ‘Pathaan’ while speaking to ANI exclusively on Wednesday.

Mayank Shekhar told ANI, “I can’t remember the last time I woke up in the morning, set the alarm for 7 am and reached the theatre at 7.30 am and found it completely packed. People thronged the theatres to watch SRK’s comeback movie. For me, however, this is also the comeback of big-budget masala Bollywood entertainers. Over the last few months, we had huge box office successes such as ‘KGF 2’ and ‘Kantara’. But they were not from Bollywood. The Mumbai film industry had to deliver and it has. It was an overwhelming experience to watch people going gaga over the movie and enjoying it to the fullest.”

Complimenting Shah Rukh’s ripped and chiselled look in the film, Mayank said, “Shah Rukh is the spectacle of the movie. At 57, he has set some serious fitness goals. Those locks, six packs…You’ll completely fall for the guy. But the makers have ensured there are plenty more reasons to watch the movie. There’s non-stop action, chase sequences, featuring buses, trains, missiles…it’s breathless!”

Asked to give his ‘review’ of the film, the critic quipped, “These are critic-proof movies.”

The movie had garnered much controversy around its release, especially for the song ‘Besharam Rang’ which was deemed to have hurt religious sentiments.

On whether the controversy around the film helped in generating a positive word-of-mouth publicity, Mayank said, “A silly, simplistic movie like ‘Pathaan’ is not supposed to be a political film. Politics should be left to the politicians. Regular, common moviegoers want to enjoy a mass entertainer like this. This movie gives them everything that they look for in a masala entertainer.”

Ecstatic about the movie’s first-day collection, Adarsh said, “Don’t be surprised, if the Hindi version of the ‘Pathaan’ alone mints Rs 50 crore on the first day. There are two hindi movies that crossed Ts 50 crore mark on the opening day — ‘War’ and ‘Thugs of Hindostan’. But both were holiday releases. Being a non-holiday release, if ‘Pathaan’ crosses the magic figure, it will be a historic moment. Tomorrow is Republic Day, so expect an even bigger rush at the theatres. Borrowing from SRK’s dialogue from ‘Om Shanti Om’, I would say, ‘Picture Abhi Baki Hai’.”

He added, “2022 was a depressing year for Hindi movies and views were eagerly awaiting the release of ‘Pathaan’. And it’s minting big money at the box office. The advance bookings also gave us an indication of the kind of opening it would have. ‘Pathaan’ is at second in terms of advance bookings, next to ‘Bahubali’ (Hindi).”

On the controversy around ‘Pathaan’, he added, “Any controversy keeps the film and the actors in the news. And I believe, box office numbers speak louder than words.”

Another eminent film critic, Ajay Brahmatmaj, told ANI, “It’s a complete package. The audience will surely be completely engrossed with the movie.”

He added, “It’s a win for the audience. Neither the boycott gang nor SRK’s fans, it’s the audience that has made the movie such a massive opening.” (ANI)

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Former Uttar Pradesh Chief Minister Mulayam Singh Yadav and Dilip Mahalanabis, who pioneered the wide wide Oral Rehydration Solution (ORS), and noted architect Balkrishna Doshi have been named for Padma Vibhushan posthumously with the government announcing Padma awards for 2023

Mulayam, Zakir Hussain, Sudha Murty Among Padma Awardees

By LokMarg

Former Uttar Pradesh Chief Minister Mulayam Singh Yadav and Dilip Mahalanabis, who pioneered the wide wide Oral Rehydration Solution (ORS), and noted architect Balkrishna Doshi have been named for Padma Vibhushan posthumously with the government announcing Padma awards for 2023 on the eve of the 74th Republic Day.

The list comprises six Padma Vibhushan, nine Padma Bhushan and 91 Padma Shri awards. Nineteen of the awardees are women. There are seven posthumous awardees.

Other Padma Vibhushan awardees are former External Affairs Minister and former Karnataka Chief Minister SM Krishna (Public Affairs), tabla maestro Zakir Hussain (Art) and Srinivas Vardhan (Science and Engineering).

Former Samajwadi Party leader Mulayam Singh Yadav has been honored posthumously for his services in Public Affairs), Dilip Mahalanabis (Medicine) and Balkrishna Doshi (Architecture).

The nine Padma Bhushan awardees include Kumar Manglam Birla (Trade and Industry), Vani Jairam (Art), Sudha Murty (Social Work) and Chinna Jeeyar and Kamlesh D Patel (Others – Spiritualism).

The 91 Padma Shri awardees include actor Raveena Ravi Tandon and RRR music composer MM Keeravaani.

Padma Awards – the highest civilian Awards of the country, are conferred in three categories, namely, Padma Vibhushan, Padma Bhushan and Padma Shri.

The Awards are given in various disciplines and fields of activities such as art, social work, public affairs, science and engineering, trade and industry, medicine, literature and education, sports, and civil service.

‘Padma Vibhushan’ is awarded for exceptional and distinguished service; ‘Padma Bhushan’ for distinguished service of high order and ‘Padma Shri’ for distinguished service in any field.

The awards are announced on the occasion of Republic Day every year. The awards are conferred by the President of India at ceremonial functions which are held at Rashtrapati Bhawan usually around March and April every year. (ANI)

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Wazir Hasanganj Road in Uttar Pradesh

Rescuers Save 16 People From Lucknow Building Debris

By LokMarg

The State Disaster Response Force (SDRF) has rescued 16 people after the collapse of the Alaya Apartment building in Lucknow’s Hazratganj, said the SDRF on Wednesday.

So far, 16 people have been rescued from the debris created after the Alaya Apartment Building collapsed in the Hazratganj area of Lucknow in Uttar Pradesh. The SDRF informed about the ongoing rescue operations.

“16 persons have been pulled out of the debris so far by #sdrf_up after 17 hours of continuous relief work after the collapse of the building (Alaya Apartment) located in Hazratganj, Lucknow,” tweeted SDRF on Wednesday.

On Tuesday, three people died after a building collapsed on Wazir Hasanganj Road in Lucknow, Deputy Chief Minister Brajesh Pathak said.

According to an official statement, Chief Minister Yogi Adityanath took cognizance of the accident and instructed sending SDRF and NDRF teams to the spot. The Chief Minister also directed the district administration officials to take the injured to the hospital immediately for proper treatment.

On Tuesday, Deputy Chief Minister Brajesh Pathak said that three people died after a residential building collapsed on Wazir Hasanganj Road in Uttar Pradesh’s Lucknow.

The police are present at the spot and rescue operations are underway. 16 people have been pulled out so far. (ANI)

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