The Supreme Court on Friday ordered Delhi Chief Minister Arvind Kejriwal to be released on regular bail in a case registered by the Central Bureau of Investigation in relation to the now-scrapped excise policy. Justices Surya Kant and Ujjal Bhuyan concurred to grant bail to Kejriwal but differed on the point of the legality of his arrest by the Central investigating agency. Justice Kant barred Kejriwal from visiting the office of the Chief Minister and the Delhi Secretariat or sign official files unless it was required and necessary for obtaining clearance/approval of the Lieutenant Governor of Delhi. These two conditions were adopted from the July 12 order of the apex court granting the Chief Minister bail in a connected money laundering case investigated by the Directorate of Enforcement (ED). Justice Bhuyan however said he had âserious reservationsâ about the two bail conditions but refrained from delving further into them as they were part of the July 12 order in a different case heard by a Coordinate Bench of the apex court. His restraint would mean the two bail conditions would now be effective. The judgment was based on petitions filed by Kejriwal, represented by senior advocate A.M. Singhvi, seeking bail and the quashing of his arrest by the CBI on June 26. While Justice Kant said the CBI arrest warranted no interference as it did not suffer from any âprocedural infirmityâ, Justice Bhuyan chose to write a separate opinion questioning both its timing and necessity without mincing words. Justice Bhuyan questioned the urgency shown by the CBI to arrest Kejriwal 22 months after the registration of the First Information Report (FIR) in the case. The judge rubbished the excuse that Kejriwalâs arrest was necessary as he gave âevasiveâ responses to his interrogators. An accused cannot be branded non-cooperative because he did not answer questions the way his interrogators wanted them answered, he reasoned. âEvery accused had a right to remain silent⦠No adverse inference can be drawn from the silence of an accused. An accused cannot be forced to make inculpatory statements against himself,â Justice Bhuyan stated. Noting that the power of arrest must be used sparingly and is not a ruse for harassment, Justice Bhuyan urged the CBI to be above board in its actions like âCaesarâs wifeâ and give the public the perception of an âuncaged parrotâ. Justice Bhuyan said the timing of the CBI arrest was suspect as the Chief Minister had been at that time on the âcusp of releaseâ from jail following a Special Court order granting him bail in the money-laundering case. The arrestâs timing invited the view that it was meant to âfrustrateâ Kejriwalâs release, he observed. Singhvi had termed the CBI arrest an âinsurance arrestâ. âIn a functional democracy governed by the rule of law, perception matters. Like Caesarâs wife, an investigating agency must be above board. Not so long ago, the Supreme Court had castigated the CBI for being a caged parrot. It is imperative that CBI dispel this notion. Rather, the perception should be that of an uncaged parrot,â Justice Bhuyan wrote. On the point of bail, both judges agreed the continued incarceration of Kejriwal violated his right to personal liberty. The CBI lodged its FIR in August 2022. So far, four chargesheets, arraigning 224 witnesses and 17 additional accused, were filed in the trial court. The documentary evidence was extensive. âThere is no likelihood of the completion of the trial in the immediate future,â Justice Kant surmised. Justice Bhuyan found no reason to hold Kejriwal captive in the CBI case when he had already been granted bail multiple times under the stringent provisions of the Prevention of Money Laundering Act. The apex court refused to relegate the bail plea to the trial court. The Bench dismissed the CBIâs apprehensions that Kejriwal would influence witnesses and tamper with the evidence. The court ordered Kejriwal to pay bail bonds of â¹10 lakh with two sureties and barred him from making any public comments about the CBI case to avoid âbuilding a narrativeâ about a sub judice matter, especially on social media networks. Kejriwal held a roadshow from the Chandgiram Akhara to his official residence after being released from the Tihar Jail and said the country is going through a critical phase as some âanti-national forcesâ are trying to weaken it. A large number of party leaders and workers joined him in the roadshow which had a large convoy of vehicles. Swiss authorities freeze $310 million allegedly linked to front man of Adani group; Adani Group rejects allegations Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of money laundering allegations into the Adani Group, U.S.-based short seller Hindenburg Research claimed citing a media report â a charge that the conglomerate vehemently denied. In a post on X, Hindenburg cited ânewly released Swiss criminal records reported by Swiss media outletâ to state that âSwiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of a money laundering and securities forgery investigation into Adani, dating back as early as 2021.â âProsecutors detailed how an Adani frontman invested in opaque BVI/Mauritius & Bermuda funds that almost exclusively owned Adani stocks,â it said citing the report. Adani group rejected the allegations as baseless saying it had no involvement in any Swiss court proceedings. âWe unequivocally reject and deny the baseless allegations presented. The Adani Group has no involvement in any Swiss court proceedings, nor have any of our company accounts been subject to sequestration by any authority,â it said. It went on to state that âeven in the alleged order, the Swiss court has neither mentioned our group companies, nor have we received any requests for clarification or information from any such authority or regulatory body. We reiterate that our overseas holding structure is transparent, fully disclosed, and compliant with all relevant laws.â The allegations, it said, âare clearly preposterous, irrational, and absurd. We have no hesitation in stating that this is yet another orchestrated and egregious attempt by the same cohorts acting in unison to inflict irreversible damage on our groupâs reputation and market value.â âThe Adani Group remains steadfastly committed to transparency and compliance with all legal and regulatory requirements,â it said, adding it âstrongly condemnsâ the allegations. The Swiss media outlet Gotham City in its report stated that âA ruling by the Federal Criminal Court (FCC) reveals that the Geneva Public Prosecutorâs Office was investigating alleged wrongdoing by the Indian conglomerate Adani well before activist investors from Hindenburg Research made the first accusations.â âMore than $310 million belonging to an alleged front man for billionaire Gautam Adani is sequestered in five Swiss banks,â it said adding the Office of the Attorney General of Switzerland (OAG) took over the investigation after the case was revealed in the media. Hindenburg, which had in January last year alleged stock market manipulation and fraud, claimed that criminal court records show in detail how an Adani frontman invested in opaque BVI/Mauritius and Bermuda funds that almost exclusively owned Adani stock. Adani Group had denied all allegations Hindenburg made in its January 2023 report. Ford Motor Company to re-enter Tamil Nadu Three years after exiting Tamil Nadu, Ford Motor Company has now expressed interest to restart manufacturing at its Chennai plant. The company has submitted a Letter of Intent (LOI) to the State government, outlining its intention to utilise the plant. Kay Hart, President, International Markets Group, Ford Motor Company, in a LinkedIn post, wrote: âI am pleased to share that today we are announcing that we have submitted a Letter of Intent (LOI) to the Government of Tamil Nadu in India, outlining Fordâs intention to utilize our Chennai plant for manufacturing for export.â She further wrote that the decision follows multiple meetings with the Tamil Nadu government, including one earlier this week with Chief Minister M.K. Stalin as part of his visit to the United States. âWe appreciate their ongoing support as we have explored different options for the plant. This step underscores our ongoing commitment to India as we intend to leverage the manufacturing expertise available in Tamil Nadu to serve new global markets,â she wrote. âI know people will be curious, but we will have more to share about the type of manufacturing and which export markets weâll be focusing on, along with other details, in due course,â she said. âFor right now, Iâm excited that this decision will add to our growing employee base in Chennai; our global Ford Business Solutions team based there is already more than 12,000 strong and we are planning to increase that by another 2,500 to 3,000 team members in the next few years. When you add that with our engine manufacturing team in Sanand and our ongoing customer and dealer support team, India is Fordâs second-largest employee base worldwide,â she noted. Earlier this week, Stalin met the Ford Motor Companyâs team in the United States. Post the meeting, he posted a message on X (formerly Twitter) saying: âHad a very engaging discussion with the team from Ford Motors. Explored the feasibility of renewing Fordâs three-decade partnership with Tamil Nadu, to again make in Tamil Nadu for the world.â In 2021, Ford Motor Company decided to wind down its engine and vehicle assembling plant at Maraimalai Nagar near Chennai by the second quarter of 2022. At that point, the Chennai plant had around 2,600 employees. China hands PwC a six-month ban and fine over audit of collapsed developer Evergrande Chinese authorities have banned the accounting firm PwC for six months and fined it over 400 million yuan ($56.4 million) over its involvement in the audit of collapsed property developer Evergrande. The punishment is the heaviest yet for international accounting firms operating in China. PwC will be banned from signing off on any financial results in the country for six months. Already, it has been losing clients. Chinaâs Ministry of Finance said in a statement on Friday that it was imposing 116 million yuan ($16.35 million) in fines and confiscation of illegal gains on PwC Zhong Tian, also known as PwC China, as well as a six-month business suspension, revocation of PwCâs Guangzhou branch and an administrative warning. A separate regulator, the China Securities Regulatory Commission, also imposed fines and confiscations totaling 325 million yuan ($45.8 million) on PwC for allegedly failing to perform due diligence in the audit of Evergrande. Chinaâs finance ministry said PwC issued âfalse audit reportsâ of Evergrande and that the audit procedures had âserious defectsâ in design and implementation, leading to many false conclusions. It also accused PwC of not maintaining âprofessional skepticismâ and failing to point out errors and a lack of information disclosure by Evergrande during the audits. The securities regulator said 88% of the records kept by PwC regarding the real estate projects were inconsistent with the actual implementation and were âseriously unreliable.â When on-site investigations were carried out, some projects were still âa piece of vacant landâ despite being considered to have met the delivery conditions, the regulator said. âThe work performed by PwC Zhong Tianâs Hengda audit team fell well below our high expectations and was completely unacceptable,â Mohamed Kande, global chair of PwC, said in a statement on its website. Hengda is the principal subsidiary of China Evergrande Group. âIt is not representative of what we stand for as a network and there is no room for this at PwC,â he said. The statement said PwC Zhong Tian has cooperated fully with regulators, respects their decisions and will fully comply with the administrative penalties. PwC China has fired six partners and five staff directly involved in the Hengda audit, it said. The firm is also in the process of issuing financial penalties for current and former firm leaders who were responsible for the business, the statement said. PwC came under Beijingâs scrutiny after the January collapse of Evergrande, the worldâs most indebted developer and a symbol of Chinaâs ongoing property crisis. Chinaâs securities regulator said in March that Evergrande had inflated its mainland China revenues by almost $80 billion in 2019 and 2020. In May, authorities fined the company $577 million. PwC had audited Evergrandeâs accounts for 14 years until 2023 and gave it a clean bill of health. PwC has been the largest of the âbig fourâ accounting firms operating in China, taking in nearly 8 billion yuan ($1.1 billion) in revenues in 2022, above competitors Deloitte, KPMG and EY, according to the Chinese Institute of Certified Public Accountants. China has been cracking down on excessive borrowing by developers during a prolonged property market slump that has hit many other parts of the economy, including construction, building materials and home appliances. In Brief: Port Blair renamed Sri Vijaya Puram Union Home Minister Amit Shah announced on Friday that Port Blair will be renamed as Sri Vijaya Puram. In an X post, Shah said, âInspired by the vision of Prime Minister Narendra Modi Ji, to free the nation from the colonial imprints, today we have decided to rename Port Blair as âSri Vijaya Puramâ.â âWhile the earlier name had a colonial legacy, Sri Vijaya Puram symbolises the victory achieved in our freedom struggle and the A&N Islandsâ unique role in the same,â he said in the post. âBeing a Union Territory, the Andaman and Nicobar Islands come under the direct administrative control of the Union Ministry of Home Affairs. Charges framed against Jagdish Tytler in 1984 anti-Sikh riots case A Delhi court on Friday framed charges of murder and other offences against Congress leader Jagdish Tytler in a 1984 anti-Sikh riots case. Special Judge Rakesh Siyal directed that Tytler face trial after he pleaded not guilty to the offences. The Judge had on August 30, 2024, said there was sufficient ground to proceed against the accused. A witness had earlier submitted in the charge sheet that Tytler came out of a white Ambassador car in front of Gurudwara Pul Bangash here on November 1, 1984, and instigated the mob by saying, âKill the Sikhs; they have killed our motherâ, which led to âthe âmurderâ of three people. Evening Wrap will return tomorrow. [logo] The Evening Wrap 13 September 2024 [The Hindu logo] Welcome to the Evening Wrap newsletter, your guide to the day’s biggest stories with concise analysis from The Hindu. [View in browser]( [More newsletters]( Supreme Court orders release of Arvind Kejriwal on regular bail in CBI case The Supreme Court on Friday [ordered Delhi Chief Minister Arvind Kejriwal to be released on regular bail]( in a case registered by the Central Bureau of Investigation in relation to the now-scrapped excise policy. Justices Surya Kant and Ujjal Bhuyan concurred to grant bail to Kejriwal but differed on the point of the legality of his arrest by the Central investigating agency. Justice Kant barred Kejriwal from visiting the office of the Chief Minister and the Delhi Secretariat or sign official files unless it was required and necessary for obtaining clearance/approval of the Lieutenant Governor of Delhi. These two conditions were adopted from the July 12 order of the apex court granting the Chief Minister bail in a connected money laundering case investigated by the Directorate of Enforcement (ED). Justice Bhuyan however said he had âserious reservationsâ about the two bail conditions but refrained from delving further into them as they were part of the July 12 order in a different case heard by a Coordinate Bench of the apex court. His restraint would mean the two bail conditions would now be effective. The judgment was based on petitions filed by Kejriwal, represented by senior advocate A.M. Singhvi, seeking bail and the quashing of his arrest by the CBI on June 26. While Justice Kant said the CBI arrest warranted no interference as it did not suffer from any âprocedural infirmityâ, Justice Bhuyan chose to write a separate opinion questioning both its timing and necessity without mincing words. Justice Bhuyan questioned the urgency shown by the CBI to arrest Kejriwal 22 months after the registration of the First Information Report (FIR) in the case. The judge rubbished the excuse that Kejriwalâs arrest was necessary as he gave âevasiveâ responses to his interrogators. An accused cannot be branded non-cooperative because he did not answer questions the way his interrogators wanted them answered, he reasoned. âEvery accused had a right to remain silent⦠No adverse inference can be drawn from the silence of an accused. An accused cannot be forced to make inculpatory statements against himself,â Justice Bhuyan stated. Noting that the power of arrest must be used sparingly and is not a ruse for harassment, Justice Bhuyan urged the CBI to be above board in its actions like âCaesarâs wifeâ and give the public the perception of an âuncaged parrotâ. Justice Bhuyan said the timing of the CBI arrest was suspect as the Chief Minister had been at that time on the âcusp of releaseâ from jail following a Special Court order granting him bail in the money-laundering case. The arrestâs timing invited the view that it was meant to âfrustrateâ Kejriwalâs release, he observed. Singhvi had termed the CBI arrest an âinsurance arrestâ. âIn a functional democracy governed by the rule of law, perception matters. Like Caesarâs wife, an investigating agency must be above board. Not so long ago, the Supreme Court had castigated the CBI for being a caged parrot. It is imperative that CBI dispel this notion. Rather, the perception should be that of an uncaged parrot,â Justice Bhuyan wrote. On the point of bail, both judges agreed the continued incarceration of Kejriwal violated his right to personal liberty. The CBI lodged its FIR in August 2022. So far, four chargesheets, arraigning 224 witnesses and 17 additional accused, were filed in the trial court. The documentary evidence was extensive. âThere is no likelihood of the completion of the trial in the immediate future,â Justice Kant surmised. Justice Bhuyan found no reason to hold Kejriwal captive in the CBI case when he had already been granted bail multiple times under the stringent provisions of the Prevention of Money Laundering Act. The apex court refused to relegate the bail plea to the trial court. The Bench dismissed the CBIâs apprehensions that Kejriwal would influence witnesses and tamper with the evidence. The court ordered Kejriwal to pay bail bonds of â¹10 lakh with two sureties and barred him from making any public comments about the CBI case to avoid âbuilding a narrativeâ about a sub judice matter, especially on social media networks. [Kejriwal held a roadshow]( from the Chandgiram Akhara to his official residence after being released from the Tihar Jail and said the country is going through a critical phase as some âanti-national forcesâ are trying to weaken it. A large number of party leaders and workers joined him in the roadshow which had a large convoy of vehicles. Swiss authorities freeze $310 million allegedly linked to front man of Adani group; Adani Group rejects allegations Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of money laundering allegations into the Adani Group, U.S.-based short seller Hindenburg Research claimed citing a media report â a [charge that the conglomerate vehemently denied](. In a post on X, Hindenburg cited ânewly released Swiss criminal records reported by Swiss media outletâ to state that âSwiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of a money laundering and securities forgery investigation into Adani, dating back as early as 2021.â âProsecutors detailed how an Adani frontman invested in opaque BVI/Mauritius & Bermuda funds that almost exclusively owned Adani stocks,â it said citing the report. Adani group rejected the allegations as baseless saying it had no involvement in any Swiss court proceedings. âWe unequivocally reject and deny the baseless allegations presented. The Adani Group has no involvement in any Swiss court proceedings, nor have any of our company accounts been subject to sequestration by any authority,â it said. It went on to state that âeven in the alleged order, the Swiss court has neither mentioned our group companies, nor have we received any requests for clarification or information from any such authority or regulatory body. We reiterate that our overseas holding structure is transparent, fully disclosed, and compliant with all relevant laws.â The allegations, it said, âare clearly preposterous, irrational, and absurd. We have no hesitation in stating that this is yet another orchestrated and egregious attempt by the same cohorts acting in unison to inflict irreversible damage on our groupâs reputation and market value.â âThe Adani Group remains steadfastly committed to transparency and compliance with all legal and regulatory requirements,â it said, adding it âstrongly condemnsâ the allegations. The Swiss media outlet Gotham City in its report stated that âA ruling by the Federal Criminal Court (FCC) reveals that the Geneva Public Prosecutorâs Office was investigating alleged wrongdoing by the Indian conglomerate Adani well before activist investors from Hindenburg Research made the first accusations.â âMore than $310 million belonging to an alleged front man for billionaire Gautam Adani is sequestered in five Swiss banks,â it said adding the Office of the Attorney General of Switzerland (OAG) took over the investigation after the case was revealed in the media. Hindenburg, which had in January last year alleged stock market manipulation and fraud, claimed that criminal court records show in detail how an Adani frontman invested in opaque BVI/Mauritius and Bermuda funds that almost exclusively owned Adani stock. Adani Group had denied all allegations Hindenburg made in its January 2023 report. Ford Motor Company to re-enter Tamil Nadu Three years after exiting Tamil Nadu, [Ford Motor Company has now expressed interest to restart manufacturing]( at its Chennai plant. The company has submitted a Letter of Intent (LOI) to the State government, outlining its intention to utilise the plant. Kay Hart, President, International Markets Group, Ford Motor Company, in a LinkedIn post, wrote: âI am pleased to share that today we are announcing that we have submitted a Letter of Intent (LOI) to the Government of Tamil Nadu in India, outlining Fordâs intention to utilize our Chennai plant for manufacturing for export.â She further wrote that the decision follows multiple meetings with the Tamil Nadu government, including one earlier this week with Chief Minister M.K. Stalin as part of his visit to the United States. âWe appreciate their ongoing support as we have explored different options for the plant. This step underscores our ongoing commitment to India as we intend to leverage the manufacturing expertise available in Tamil Nadu to serve new global markets,â she wrote. âI know people will be curious, but we will have more to share about the type of manufacturing and which export markets weâll be focusing on, along with other details, in due course,â she said. âFor right now, Iâm excited that this decision will add to our growing employee base in Chennai; our global Ford Business Solutions team based there is already more than 12,000 strong and we are planning to increase that by another 2,500 to 3,000 team members in the next few years. When you add that with our engine manufacturing team in Sanand and our ongoing customer and dealer support team, India is Fordâs second-largest employee base worldwide,â she noted. Earlier this week, Stalin met the Ford Motor Companyâs team in the United States. Post the meeting, he posted a message on X (formerly Twitter) saying: âHad a very engaging discussion with the team from Ford Motors. Explored the feasibility of renewing Fordâs three-decade partnership with Tamil Nadu, to again make in Tamil Nadu for the world.â In 2021, Ford Motor Company decided to wind down its engine and vehicle assembling plant at Maraimalai Nagar near Chennai by the second quarter of 2022. At that point, the Chennai plant had around 2,600 employees. China hands PwC a six-month ban and fine over audit of collapsed developer Evergrande Chinese authorities have [banned the accounting firm PwC for six months]( and fined it over 400 million yuan ($56.4 million) over its involvement in the audit of collapsed property developer Evergrande. The punishment is the heaviest yet for international accounting firms operating in China. PwC will be banned from signing off on any financial results in the country for six months. Already, it has been losing clients. Chinaâs Ministry of Finance said in a statement on Friday that it was imposing 116 million yuan ($16.35 million) in fines and confiscation of illegal gains on PwC Zhong Tian, also known as PwC China, as well as a six-month business suspension, revocation of PwCâs Guangzhou branch and an administrative warning. A separate regulator, the China Securities Regulatory Commission, also imposed fines and confiscations totaling 325 million yuan ($45.8 million) on PwC for allegedly failing to perform due diligence in the audit of Evergrande. Chinaâs finance ministry said PwC issued âfalse audit reportsâ of Evergrande and that the audit procedures had âserious defectsâ in design and implementation, leading to many false conclusions. It also accused PwC of not maintaining âprofessional skepticismâ and failing to point out errors and a lack of information disclosure by Evergrande during the audits. The securities regulator said 88% of the records kept by PwC regarding the real estate projects were inconsistent with the actual implementation and were âseriously unreliable.â When on-site investigations were carried out, some projects were still âa piece of vacant landâ despite being considered to have met the delivery conditions, the regulator said. âThe work performed by PwC Zhong Tianâs Hengda audit team fell well below our high expectations and was completely unacceptable,â Mohamed Kande, global chair of PwC, said in a statement on its website. Hengda is the principal subsidiary of China Evergrande Group. âIt is not representative of what we stand for as a network and there is no room for this at PwC,â he said. The statement said PwC Zhong Tian has cooperated fully with regulators, respects their decisions and will fully comply with the administrative penalties. PwC China has fired six partners and five staff directly involved in the Hengda audit, it said. The firm is also in the process of issuing financial penalties for current and former firm leaders who were responsible for the business, the statement said. PwC came under Beijingâs scrutiny after the January collapse of Evergrande, the worldâs most indebted developer and a symbol of Chinaâs ongoing property crisis. Chinaâs securities regulator said in March that Evergrande had inflated its mainland China revenues by almost $80 billion in 2019 and 2020. In May, authorities fined the company $577 million. PwC had audited Evergrandeâs accounts for 14 years until 2023 and gave it a clean bill of health. PwC has been the largest of the âbig fourâ accounting firms operating in China, taking in nearly 8 billion yuan ($1.1 billion) in revenues in 2022, above competitors Deloitte, KPMG and EY, according to the Chinese Institute of Certified Public Accountants. China has been cracking down on excessive borrowing by developers during a prolonged property market slump that has hit many other parts of the economy, including construction, building materials and home appliances. In Brief: Port Blair renamed Sri Vijaya Puram Union Home Minister Amit Shah announced on Friday that [Port Blair will be renamed as Sri Vijaya Puram](. In an X post, Shah said, âInspired by the vision of Prime Minister Narendra Modi Ji, to free the nation from the colonial imprints, today we have decided to rename Port Blair as âSri Vijaya Puramâ.â âWhile the earlier name had a colonial legacy, Sri Vijaya Puram symbolises the victory achieved in our freedom struggle and the A&N Islandsâ unique role in the same,â he said in the post. âBeing a Union Territory, the Andaman and Nicobar Islands come under the direct administrative control of the Union Ministry of Home Affairs. Charges framed against Jagdish Tytler in 1984 anti-Sikh riots case A Delhi court on Friday [framed charges of murder and other offences against Congress leader Jagdish Tytler]( in a 1984 anti-Sikh riots case. Special Judge Rakesh Siyal directed that Tytler face trial after he pleaded not guilty to the offences. The Judge had on August 30, 2024, said there was sufficient ground to proceed against the accused. A witness had earlier submitted in the charge sheet that Tytler came out of a white Ambassador car in front of Gurudwara Pul Bangash here on November 1, 1984, and instigated the mob by saying, âKill the Sikhs; they have killed our motherâ, which led to âthe âmurderâ of three people. Evening Wrap will return tomorrow. Todayâs Top Picks [[Jaishankar reveals his father was on hijacked flight in 1984] Jaishankar reveals his father was on hijacked flight in 1984](
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