Daily Briefing: Adani in the soup, again; Rohit Sharma’s litmus Test; and more

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“This time especially, it doesn’t look good, does it?” says Kenji Hirose, the head chef of a restaurant in Gurgaon. The Japanese national is referring to the hazardous air quality in NCR, which has surpassed an average AQI of 400 in recent days. And Hirose is not alone. Like the chef, several Japanese and Korean nationals in the city are deeply concerned about the bad air affecting them, their families and their businesses. So much so that the expatriates are willing to relocate their families.

On that note, let’s move on to today’s briefing. Here’s what we have today:

– A multi-billion dollar fraud
– Maharashtra sees highest turnout in 30 years
– Status of undertrial prisoners in India

🚨Big Story

Billionaire Gautam Adani, chairperson of the Adani Group of companies, has been indicted in New York over his role in an alleged multi-billion-dollar fraud and bribery scheme involving his solar projects in India, as per the US Department of Justice.

In the thick of it: The prosecutors say that Adani and seven other executives, including his nephew Sagar Adani, had promised to pay around $265 million (Rs 2,029 crore) in bribes to Indian government officials to obtain contracts projected to yield $2 billion of profit over 20 years.

The case pertains to an agreement for Adani Green Energy Ltd. and another firm to sell 12 gigawatts of solar power to the Indian government. The US indictment accuses Adani of falsifying records for US investors to pour in millions of dollars into the project over the last five years.

The ‘big man’s’ gamble: According to the indictment, some conspirators referred to Gautam Adani with code names “Numero uno” and “the big man”, while Sagar Adani allegedly used his cellphone to track specifics about the bribes.

In troubled waters: The Adani Group was already in troubled waters in the US, after short-seller Hindenburg Research accused the firm of “brazen stock manipulation and accounting fraud scheme over the course of decades” in January 2023.

In effect… dollar bond prices for Adani companies fell sharply in early Asia trade today. Prices for Adani Port and Special Economic Zone debt maturing in August 2027 plummeted over five cents on the dollar. This is the biggest fall that the conglomerate has seen since the Hindenburg allegations.

💡Only in Express

“Kejriwal is not an aam aadmi anymore”

With his sensational switch from Aam Aadmi Party (AAP) to the Bharatiya Janata Party (BJP), Kailash Gahlot certainly made waves in Delhi’s political landscape. Shortly after his exit, Gahlot spoke to Indian Express and shed light on the challenges he faced in AAP, and why he thinks Arvind Kejriwal has changed as a person.

From the Front Page

Decision 2024: In Maharashtra, as a battle of alliances played out, voters came out in record numbers to cast their ballots. As per data available at 11.45 pm, the turnout in the state surpassed 65.1 per cent for the first time since 1995. In a tight contest, this jump in turnout could emerge as a major factor in deciding who wins the election.

Towards a thaw: In the latest indication of India and China moving to repair ties, Defence Minister Rajnath Singh and his Chinese counterpart Dong Jun met in Laos on Wednesday, where Singh said “we need to focus on cooperation rather than conflict”. Meeting Dong on the sidelines of the 11th ASEAN Defence Ministers’ Meeting, Singh “emphasised and looked forward to greater trust and confidence building between the two sides through de-escalation.”

⚡Must Read

“This vote is an experiment in remaking the nation, just as it is a repudiation of establishment politics. Perhaps devolving power to minority provinces can co-exist with better living standards across the mostly-Sinhalese south.”

In our Opinion pages today, Andrew Fidel Fernando writes about the reshaping of Sri Lankan politics, and how its recent progressive turn will be tested by the new government’s negotiation of the economic crisis.

“Before Constitution Day, we want to make sure there isn’t a single prisoner in jail who has spent one third of his sentence in prison and still hasn’t received justice” – This is what Home Minister Amit Shah said earlier this week, announcing relaxed provisions on bail for first-time offenders.

But what does Section 479 of the Bharatiya Nagarik Suraksha Sanhita, 2023, which provides this relaxation, state? What has the Supreme Court said on the matter? And what is the state of undertrials in India? We explain.

⏳ And Finally…

Captain’s litmus Test: As India returns to Australia, Rohit Sharma’s absence from the Perth Test and the team’s pre-series coverage largely fixated on Virat Kohli, has reduced the captain to a ghostly presence. There are two aspects to Rohit at this stage – the batsman and the leader, and both have overlapped in recent times, one overtly affecting the other. Now, it remains to be seen if this dynamic leader can set the tune with the bat in a series that could define his captaincy.

In today’s 3 Things podcast, Sukrita Baruah and Deeptiman Tiwary join us to discuss what triggered the recent killings in Manipur, how the administration has responded, and what this reveals about the ongoing crisis and the state’s failure to resolve it.

That’s all for today.

Until tomorrow,

Ayesha Jain