New Delhi (PTI): In a significant development, the Supreme Court on Monday declined to restrain a one-member committee appointed by the Andhra Pradesh government from reviewing an independent Special Investigation Team's (SIT) report on the Tirumala laddu controversy.

The top court, on October 4, 2024, had set up the five-member independent SIT to probe the allegations of animal fat used in preparing Tirupati laddus to "assuage the feelings of crores of people", while making clear that the court cannot be used as a "political battleground".

On Monday, a bench of Chief Justice Surya Kant and Justice Joymala Bagchi was told by Bharatiya Janata Party (BJP) leader Subramanian Swamy that the state government's decision to appoint the one-member committee amounts to setting up a parallel inquiry that would affect the SIT's probe. The plea also assailed statements made by Andhra Pradesh Chief Minister N Chandrababu Naidu on the row.

Rejecting the submissions, the CJI noted that the SIT probe is already over and the matter is sub-judice as two chargesheets, including a supplementary one, have been submitted in the court.

"Such an administrative enquiry cannot be called as overlapping with the criminal proceedings which led to the chargesheet and the supplementary chargesheet," the CJI said.

"There is no conflict of interest/overlapping, and the scope of the investigation/enquiry, having been well demarcated, shows that apprehension of the petitioner does not have a solid foundation. Let both processes continue strictly in accordance with the law," the court said.

Swamy argued that the state government's move undermines the authority of the SIT, constituted earlier by the Supreme Court itself to probe irregularities surrounding the laddus distributed by the Tirumala Tirupati Devasthanams (TTD).

During the proceedings, Solicitor General Tushar Mehta said the SIT has completed its investigation and filed its final report.

He underlined that according to the Central Bureau of Investigation's (CBI) manual, if administrative lapses not connected to a criminal matter are found during a probe, then those have to be intimated to the state government, and as the SIT has found certain administrative lapses, the Andhra Pradesh government's panel is looking into those.

The panel replaced the state government's SIT, constituted on September 26, 2024, following the politically-sensitive row over the alleged use of animal fat in the laddus.

The controversy erupted after Naidu's claim that animal fat was used in preparing Tirupati laddus during the previous Y S Jagan Mohan Reddy-led regime in the southern state.

The YSR Congress Party has accused Naidu of levelling "heinous allegations" against it for political gains, while the ruling Telugu Desam Party in the state has circulated a laboratory report to back its claim.

A batch of pleas, including those seeking a court-monitored probe into the alleged use of animal fat in making the laddus, was then filed in the apex court.

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Mumbai (PTI): The rupee depreciated 28 paise to 94.77 against the US dollar in early trade on Thursday as market sentiment took a dramatic turn after reports emerged that the US and Iran are discussing a 14-point Memorandum of Understanding (MOU) aimed at reducing tensions and reopening negotiations.

Forex traders said Brent oil prices, which had fallen to USD 98 on the US-Iran peace deal, edged slightly higher to USD 101 per barrel after investors weighed the prospects for a Middle East peace deal.

Moreover, factors such as unabated foreign capital outflows amid rising geopolitical uncertainties further dented investor sentiment.

At the interbank foreign exchange market, the rupee opened at 94.77 against the US dollar, registering a fall of 28 paise over its previous close.

On Wednesday, the rupee appreciated 69 paise to close at 94.49 against the US dollar.

"Markets are currently focused on the critical 48-hour window during which the US expects Tehran’s formal response through Pakistani mediators," said CR Forex Advisors MD Amit Pabari.

US President Donald Trump on Wednesday threatened Iran with more bombing if it doesn't reopen the Strait of Hormuz, amid a report that the warring sides were nearing an agreement to end the war.

US media outlet Axios reported, quoting US officials and two other sources, that the US and Iran were getting close to a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations.

The US expects Iranian responses on several key points over the next 48 hours, Axios reported, adding that nothing has been agreed yet. This was the closest the parties had been to an agreement since the war began.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 98.01, down 0.01 per cent.

Brent crude, the global oil benchmark, was trading higher by 0.65 per cent at USD 101.83 per barrel in futures trade.

On the domestic equity market front, the 30-share benchmark index Sensex declined 160.24 points to 77,798.28 in early trade, while the Nifty was down 30.25 points to 24,300.70.

Foreign Institutional Investors offloaded equities worth Rs 5,834.90 crore on Wednesday, according to exchange data.

On the domestic macroeconomic front, the country's goods and services exports rose 4.6 per cent to an all-time high of USD 863.11 billion during 2025-26, up from USD 825.26 billion in 2024-25, despite global economic uncertainties, according to revised commerce ministry data.

Merchandise exports grew 0.93 per cent to USD 441.78 billion in the last fiscal year from USD 437.70 billion in 2024-25, the data showed.