03022023-TTC-01.qxd 2/3/2023 12:49 AM Page 1 13 CHANDIGARH | GURUGRAM | JALANDHAR | BATHINDA | VOL. 7 NO. 33 | 20 PAGES | ~5.00 | REGD. NO. CHD/0006/2021-2023 ESTABLISHED IN 1881 COLLEGIUM ASKED TO RE-EXAMINE PROPOSALS, RAJYA SABHA TOLD NATION /thetribunechd NEW I-T REGIME MADE ATTRACTIVE FOR HIGH EARNERS BUSINESS PROTESTS AGAINST EVICTION DRIVE; AZAD MEETS SHAH J&K AMID PROTESTS, UK DEFENDS BBC’S INDEPENDENCE WORLD friday | 3 february 2023 /thetribunechd www.tribuneindia.com RBI asks banks for details of exposure to Adani Group Boris Johnson’s brother quits linked firm B’desh questions ‘expensive’ power deal Tribune News Service New Delhi, February 2 As the Reserve Bank of India (RBI) on Thursday sought details about lenders’ exposures to the Adani Group, chairman Gautam Adani cited market volatility for the decision to withdraw the follow-on public offer (FPO) of its flagship firm Adani Enterprises. His companies continued to lose on the stock market with the cumulative rout nearing USD 108 billion in a week — one of the biggest wipeouts in India’s history. The RBI is seeking details both from private and public banks with the total exposure to the group estimated at Rs 75,000 crore. It has also sought to know special arrangements extended to the companies such as collaterals in the form of bonds. The National Stock Exchange (NSE) too has put shares of three group companies under the additional surveillance mechanism (ASM). The move indicates the company’s shares are in trouble and require special monitor- $108 bn loss in a week, biggest wipeout in India’s history ALLAYING CONCERNS SBI: Exposure to the group fully secured by cash generating assets BANK OF BARODA: Total exposure stands at ~7,000 crore, fully secured LIC: ~36K crore in group’s debt, equity, less than 1% of total investment UNDER NSE SCANNER Gautam Adani addresses investors. WON’T LET INVESTORS DOWN ❝ For me, the interest of my investors is paramount and everything is secondary. To insulate the investors from potential losses, we have withdrawn the FPO. Once the market stabilises, we will review our capital market strategy. ■ NSE puts stocks of 3 group cos under additional surveillance co’s scrip closes 26.5% down at ~1,564.70 BANK PO | SSC Tribune News Service CONG: WHY GOVT MUM? New Delhi, February 2 The Hindenburg-Adani issue rocked Parliament with both Houses adjourned for the day without transacting any substantial business. The Congress-led Opposition raised allegations of irregularities against the Adani Group, demanding a probe into the matter by a Joint Parliamentary Committee (JPC) or by a sitting judge of the Supreme Court. Both Houses were adjourned until 2 pm after presiding officers of the Lok Sabha and the Rajya Sabha rejected calls for deferment of proceedings to discuss the matter, prompting the Congress-led Opposi- ❝ Modi govt is maintaining silence on the Hindenburg report. We will not remain quiet if you cheat Indian investors, consisting of 29 crore LIC policy holders and 45 crore SBI account holders. <
The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore (now in Pakistan). It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising four eminent persons as trustees.
The Tribune, the largest selling daily in North India, publishes news and views without any bias or prejudice of any kind. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the paper. It is an independent newspaper in the real sense of the term.
The English edition apart, the 133-year-old Tribune has two sister publications, Punjabi Tribune (in Punjabi) and Dainik Tribune (in Hindi).