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Indian Express
19 minutes ago
- Indian Express
Punjab gets eight new DGPs: Promotion includes two women officers; total DGP-rank officers in state now 20
The Punjab government has promoted eight Indian Police Service (IPS) officers of the 1994 batch to the rank of Director General of Police (DGP). The list includes two women officers, Neerja Vohra and Anita Punj. Notably, Punj has been promoted alongside her husband, Praveen Kumar Sinha, marking a rare instance of a couple both holding the DGP rank in the state police. The other officers elevated to the top police rank are Naresh Kumar, Ram Singh, Sudhanshu Srivastava, V. Chandrashekhar, and Amardeep Singh Rai. All of them were serving at the Additional Director General of Police (ADGP) level prior to this promotion. With these elevations, the total number of DGP-rank officers in Punjab has risen to 20. As per the provision and notification of the Department of Personnel and Training (DoPT), Government of India, Punjab has two sanctioned posts of DGP. The notification, issued in 2010 by the Centre under the All India Services Act, 1951 (LXI of 1951), read with sub-rules (1) and (2) of rule 4 of the Indian Police Service (Cadre) Rules, 1954, was framed in consultation with the Government of Punjab. It specifies that the state can have one DGP as the head of the police force and one DGP for home guards and civil defence. Under existing rules and DoPT guidelines, IPS officers are eligible for promotion to the ranks of Inspector General (IG), ADGP, and DGP upon completing 18, 25, and 30 years of service respectively.
Time of India
24 minutes ago
- Time of India
Foreign short-sellers trigger stock crashes in India with critical reports, and profit from them, reveals report
Proxy firm InGovern has released a report outlining the modus operandi of certain foreign short-sellers who start taking positions in target companies and make gains from the fall in their stock price once the report is released. "Foreign research outfits not registered with Sebi can publish reports on Indian companies without being subject to Indian regulatory scrutiny -- even when their actions directly impact Indian investors and markets," it said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bank Owned Properties For Sale In Duong Detham (Prices May Surprise You) Foreclosed Homes | Search ads Search Now Undo The report came in the backdrop of US-based Viceroy Research calling billionaire Anil Agarwal-led British firm Vedanta Resources a "parasite" that is "systematically draining" its Indian unit, an allegation which the group called "selective misinformation and baseless" aimed at discrediting it. InGovern said short seller reports have become significant market events, often resulting in heightened volatility and intense scrutiny of targeted companies. These firms first establish a short position in the securities of a company, which is followed by publishing a critical or adverse research report. The report often triggers market reactions, sometimes bordering on panic. Short sellers benefit financially from subsequent movements in stock or bond prices. Live Events In India, the Securities and Exchange Board of India (Sebi) has established a regulatory framework for research analysts. Entities and individuals who publish research on Indian securities are required to be registered with the regulator, ensuring a degree of accountability and oversight regarding the quality and intent of published research. "These regulations are designed to protect investor interests and promote market integrity by holding registered analysts to professional and ethical standards," InGovern said. Citing recent reports against Indian groups, it said instances have emerged where offshore research firms released critical reports while holding economic interests in the securities, yet did not respond to regulatory summons or cooperate with Indian authorities. The reference was to another US short seller, Hindenburg Research, which in January 2023 released a damning report against the Adani Group. Hindenburg, which has since shut shop, did not respond to summons issued by Sebi. "Indian regulators can enforce compliance and accountability among domestic research analysts, but have limited recourse against unregulated foreign entities. This creates a regulatory gap, allowing such firms to influence Indian markets without adhering to the same standards of transparency," InGovern said. "The accuracy of these reports is often debated, but the incentive structure -- where financial gains are tied to negative market outcomes-- raises concerns about motives, with market disruption sometimes prioritised over balanced analysis." Calling for a need for stronger safeguards, it said these dynamics highlight the importance of ongoing dialogue around disclosure norms, cross-border regulatory cooperation, and enhanced investor education as global capital markets become increasingly interconnected. InGovern has said that as an independent proxy advisory firm, it has made recommendations in the past for supporting and opposing various resolutions at Vedanta Group companies, depending on the nature of the proposal and the prevailing governance standards. "Routine resolutions such as adoption of financial statements or reappointment of auditors have generally received support when disclosures and processes met regulatory and best-practice standards," it said. On the proposed demerger of Vedanta, InGovern has noted that it was supported by leading proxy advisory firms (including InGovern) all of whom recommended a vote in favour of the demerger. "These advisors cited potential benefits such as enhanced management focus, improved capital market access, and the opportunity for investors to hold shares in businesses with distinct investment profiles. The demerger is designed to unlock value, sharper strategic focus for each business, and provide flexibility for future growth and collaboration with investors and partners, including the possibility of sale of any of the demerged entities," InGovern said. On the Viceroy report's observations on entity structures, InGovern has stated that such structures are quite common and legitimate. "Infrastructure, mining, and energy businesses require large upfront investments and often operate through holding company structures for regulatory, tax, and operational reasons," it said, adding that parent companies often raise debt at the group level (sometimes at more favourable rates) and use subsidiary cash flows for servicing, which is disclosed and regulated. "This model is not unique to India -- most large conglomerates globally use similar structures, as seen with Glencore, Anglo American, and BHP," it said. InGovern has also highlighted how various regulatory norms in India require ample disclosures for companies, which helps provide information to stakeholders. "Indian regulations (SEBI, Companies Act) require comprehensive disclosure of related-party transactions, inter-corporate loans, and dividend flows." Vedanta Group had denied the claims in the Viceroy Report, stating that the report is a malicious combination of selective misinformation and baseless allegations to discredit the Group.
Time of India
an hour ago
- Time of India
Eggs hurled at Rath Yatra devotees in Toronto: Viral video sparks outrage; Naveen Patnaik demands MEA action
Screengrab from video by Sangna Bajaj A peaceful Rath Yatra procession in Toronto was disrupted when residents of a nearby building allegedly hurled eggs at devotees. The incident gained attention after a video went viral on Instagram, capturing eggs thrown near the procession. Narrating the incident, Sangna Bajaj wrote on Instagram, 'Someone from a nearby building threw eggs at us.. Why? Because faith makes noise? Because joy looked unfamiliar? We didn't stop. Because when Lord Jagannath is on the streets, no hate can shake us." The Toronto based user said the procession continued despite the disruption with participants maintaining their devotion and spirit. 'We were stunned. Hurt. But we didn't stop. Because hate can never overpower faith,' she said. The attack took place during Iskcon's 53rd annual Rath Yatra in Toronto, celebrated on July 11 from 11 am to 1 pm. According to Iskcon, the Rath Yatra is a public and vibrant celebration where devotees bring the deities, Lord Jagannath, Baladeva, and Subhadra Devi, out onto the streets, accompanied by loud kirtans and devotional singing. Also read: India slams Rath Yatra disruption in Toronto, calls incident 'despicable'; urges Canada to act against perpetrators The Indian government has formally raised concerns with Canada over the incident and urged that those responsible be held accountable. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dementia Has Been Linked To a Common Habit. Do You Do It? Memory Health Learn More Undo Ministry of external affairs spokesperson Randhir Jaiswal described the incident as "despicable" and "regrettable," stating, "We have seen reports regarding disruption created by mischievous elements during the Rath Yatra procession in Toronto. Such despicable acts are regrettable and are against the spirit of the festival, which seeks to promote unity, inclusivity, and social harmony." "We have strongly taken up the matter with Canadian authorities to hold the perpetrators of the act accountable. We hope the Canadian Government will take necessary action to protect the religious rights of people,' he added. Former Odisha chief minister and BJD president Naveen Patnaik expressed deep concern over the incident. "Deeply disturbed to know about the reports of eggs being hurled at devotees during #RathaJatra celebrations in Toronto, Canada. Such incidents not only grievously hurt the sentiments of Lord Jagannatha's devotees worldwide, but also cause deep anguish to the people of #Odisha," he wrote in a post on X sharing images of the procession. Patnaik urged the ministry of external affairs to lodge a strong protest and called on both the Centre and the Odisha state government to take the matter seriously. The video drew mixed reactions online. While many condemned the act, calling it 'deeply disrespectful,' others offered a more critical take on public religious events. One user wrote, 'Throwing eggs at the Jagannath Ratha Yatra in Canada is a deeply disrespectful act and must be condemned in the strongest terms.' Another commented, 'If you bring religion to the streets, you need to factor in all this as well—goes for any religion, for that matter. '
