In the midst of allegations against Sebi chairperson Madhabi Puri Buch, the opposition has demanded a JPC investigation to bring forth the truth. However, the ruling BJP has rejected this demand, causing a political uproar. A Joint Parliamentary Committee (JPC) comprising of members from both houses of parliament is an ad hoc body that can conduct a thorough inquiry into the matter at hand and hold the government accountable for its actions. Although only three JPCs have been constituted in the past to investigate financial crimes, the demand for a JPC remains a powerful tool for the opposition to exert political pressure on the government.
The Hindenburg Report and Allegations against Sebi Chairperson Madhabi Puri Buch
The Hindenburg Research report, released on January 24, 2023, has caused a major upheaval in India's financial markets and political circles. The report accused the Adani Group, a conglomerate led by Gautam Adani, of accounting fraud and stock manipulation.
Amidst this controversy, allegations against Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch have surfaced. Buch is accused of withholding information about Adani Group's alleged irregularities and failing to take prompt action.
Opposition's Demand for JPC Investigation
The opposition parties have seized upon these allegations to demand a Joint Parliamentary Committee (JPC) investigation into the matter. A JPC is an ad hoc body consisting of members from both houses of parliament that can conduct thorough inquiries into specific issues.
The opposition believes that a JPC would bring forth the truth and hold those responsible for any wrongdoing accountable. However, the ruling BJP has rejected this demand, maintaining that there is no merit in the allegations against Buch.
Importance of JPCs
In the past, JPCs have played a significant role in investigating financial crimes. For example:
Although only three JPCs have been established to investigate financial crimes, their findings have had a significant impact on Indian politics and financial regulations.
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In an effort to combat rising drug abuse rates, the National Medical Commission (NMC) has announced the implementation of Nasha Mukt Bharat Abhiyan (Drug-Free India Campaign) in all medical colleges across India. Along with this, the NMC has also requested the formation of drug-free hostel committees, a schedule of activities, and awareness programs for students, faculty, and staff. The Ministry of Health and Family Welfare, in collaboration with the NMC, is also planning to launch Tobacco Cessation Centres in all medical colleges to help individuals quit tobacco consumption and reduce tobacco-related diseases.
The National Medical Commission (NMC) has issued detailed guidelines for All India Institute of Medical Sciences (AIIMS), medical colleges, and other higher educational institutions to implement Nasha Mukt Bharat Abhiyan activities to tackle the growing issue of substance abuse among students. These measures include forming committees, conducting awareness campaigns, and creating referral systems to provide support to students. The government hopes that this collaborative approach will help curb drug trafficking and protect the student population from falling prey to substance abuse.
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Former Member of the Scottish Parliament, Wendy Alexander, has accused Dundee University of pressuring her to leave her position as Vice Principal International due to her questioning of the institution's financial practices. She claims she was offered a "package and trips" as a way to leave quietly. This revelation comes after a recent report revealing financial mismanagement at the university, with the former principal, Prof Iain Gillespie, resigning last year. Alexander's comments were made in a statement to Holyrood's education committee, which also heard evidence from other former university officials expressing regret for not implementing cost-cutting measures earlier and acknowledging the pain caused to students and staff.
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Union Home Minister Amit Shah inaugurated the National Headquarters of the Turmeric Board in Nizamabad, fulfilling a major demand of farmers in Telangana. The event was attended by various BJP leaders, who welcomed Shah at the Begumpet airport. The establishment of the Turmeric Board was a key election promise by BJP Lok Sabha member D Arvind, who defeated K Chandrasekhar Rao's daughter in the 2019 Lok Sabha elections. This move is aimed at improving the quality and income of turmeric farmers in the region.
Union Home Minister Amit Shah inaugurated the National Headquarters of the Turmeric Board in Nizamabad, Telangana. The ceremony was attended by several prominent leaders such as Union Coal and Mines Minister G Kishan Reddy, Union MoDS (Home) Bandi Sanjay Kumar, BJP MP K Laxman, and BJP Lok Sabha member from Nizamabad, D Arvind. This move is expected to boost the production and export of turmeric, a key spice in Indian cuisine, and support the farmers in the region.
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The Karnataka High Court on Wednesday heard arguments from ride-hailing platforms Ola, Uber, and Rapido, as well as the Bike Taxi Welfare Association, challenging a state-wide ban on bike taxis. Advocates for the petitioners argued that the ban violated their right to livelihood and hindered the service's potential to decongest roads and bridge last-mile connectivity gaps in urban areas. The ban was put in place following an expert committee report opposing bike taxis, but was later reversed to allow operations until the state issues specific guidelines. The matter is set for further hearing on July 2.
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