Strictest action will be taken against Hindenburg: Union Minister Giriraj Singh
New Delhi, Aug 12: Union Minister Giriraj Singh on Monday said Hindenburg Research has defamed the country in alliance with Congress and the "strictest action" will be taken against the US short-seller.
Hindenburg on Saturday launched a broadside against markets regulator Sebi chairperson Madhabi Buch, alleging she and her husband Dhaval had stakes in obscure offshore funds used in the alleged Adani money siphoning scandal.
The duo has denied the allegations as baseless and asserted their finances are an open book.
The Adani Group termed the latest allegations malicious and based on manipulation of select public information. The company said it has no commercial relationship with the Sebi chairperson or her husband.
Talking to reporters on the sidelines of an event here, Singh, the Union Minister for Textiles, also came down heavily on Congress leaders Rahul Gandhi and Jairam Ramesh.
"This is a gang to defame the country, Rahul (Gandhi) and Jairam Ramesh. Hindenburg defames us. We will not tolerate this insult to the nation. These people are enemies of the country. Now strictest action will be taken against Hindenburg," Singh said.
Calling Gandhi 'Bade Baap Ka Beta', the minister said: "Rahul does not know anything about the state and direction of the nation", and cautioned that the countrymen should "beware" of such people who try to create confusion and fear.
Asked about demands by Congress for a JPC probe in the Hindenburg matter, Singh said: "This Congress is behind Hindenburg. Hindenburg is a tool kit to ruin India and people like Rahul Gandhi are involved in it".
Leader of Opposition in the Lok Sabha, Rahul Gandhi, on Sunday demanded a Joint Parliamentary Committee (JPC) inquiry into the charges against Securities and Exchange Board of India (Sebi ) chief Madhabi Buch in the latest Hindenburg report.
The Congress leader issued a stark warning regarding the integrity of India's stock market following the latest allegations made by Hindenburg.
"Rahul Gandhi even defames the nation when he goes abroad. When at home, he (Rahul) creates confusion and fear among the countrymen... The countrymen should beware of such people. Creating confusion can be an act committed by anti-nationals. It is not appropriate, no patriot can do such a thing," Singh said.
He was speaking on the sidelines of the 'Handloom Expo' here.
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Commercial LPG hike: Delhi restaurant owners warn of higher menu rates, job losses
New Delhi (PTI) A day after a 50 per cent rise in commercial LPG cylinder prices, Delhi's food business, with restaurant owners and street vendors have warned of higher menu rates, financial strain and potential job losses if the trend persists.
The price of commercial LPG was hiked by a steep Rs 993 per 19 kg cylinder, marking the third consecutive monthly hike amid rising global energy prices linked to the West Asia conflict.
For many in the restaurant industry, the spike has been both sudden and steep.
Manpreet Singh, honorary treasurer of the National Restaurant Association of India, said that eateries are already grappling with supply challenges alongside rising costs.
"There is a huge difficulty in getting these cylinders, and black marketing is also increasing in many unregulated sectors," he said, noting that prices that were once around Rs 1,600, often dropping to nearly Rs 1,300 with discounts, have now surged to between Rs 3,000 and Rs 4,000 per cylinder.
He further added that a medium-sized restaurant typically uses between two and five cylinders daily, making the increase particularly burdensome as costs mount.
Singh further said that as costs mount, smaller establishments could struggle to stay afloat. Instead, the association has advised restaurants to shift towards piped natural gas connections through Indraprastha Gas Limited as a more sustainable alternative.
"If this problem continues, PNG is the only long-term solution," he said, adding that temporary measures like coal offer limited relief due to slower cooking times and that it can largely be used only for tandoors.
Echoing similar concerns, Kabir Suri, owner of Mamagoto in Khan Market, said the impact is already visible across the industry. "There has been almost a threefold increase in cylinder prices for restaurants," he said, adding that rising fuel and logistics costs are compounding the pressure.
"If this continues, it will become a significant financial burden, and food prices will inevitably go up. Adding to this burden, higher fuel costs are also affecting logistics and transportation, making a price rise unavoidable. The extent of the impact will vary between small eateries and large chains depending on their scale," he said.
Global oil prices have surged nearly 50 per cent following disruptions in energy supply chains due to the West Asia conflict, pushing up commercial fuel costs and transport expenses.
A West Delhi-based restaurateur said they are trying to manage rising costs while keeping their staff secure. "We are trying to ensure that our staff, from kitchen workers to waiters, are paid on time and do not face immediate hardship," the owner said.
"We are a small restaurant with seating for about 20 to 25 people at a time. But if this continues for long, we will have to take difficult calls. There is only so much we can absorb, and menu prices will have to go up. We hope this does not continue for a longer period," he said.
Another restaurant owner in North Delhi, who did not wish to be named, said operational adjustments alone may not be enough. "We are checking our costs very carefully and trying to cut wherever possible, but if fuel prices remain high, it will eventually affect how we run the business," the owner said.
"Coal helps in tandoor cooking, but it takes more time," the owner further added.
The strain is even more acute among street vendors, many of whom operate on thin margins. A vendor in Saket said he had recently expanded his business, moving from a mobile cart to a rented outlet.
"I have a family to feed and more responsibilities now. Earlier, I managed with a moving cart, but after renting the place, expenses increased," he said. "Whenever cylinders were unavailable, I had to buy them at higher rates in the black market. Now even regular supply is too expensive, and if this continues, we may have to shut down," he added.
In Laxmi Nagar, another vendor said they are struggling to keep the business running. "Sometimes we even used domestic cylinders from home when supply ran out because we had to keep the stall running," he said, adding that rising costs leave little choice but to increase prices or bear losses.
On April 1, the rates of commercial LPG cylinders were hiked by Rs 195.50 per cylinder, followed by a Rs 114.5 hike on March 1, taking the total increase over the past three months to Rs 1,303. With the latest revision, a 19 kg commercial LPG cylinder now costs Rs 3,371.5 in Delhi, up from Rs 2,078.5 earlier.
The prices of domestic LPG cylinders used for household cooking have remained unchanged. They were last increased by Rs 60 per 14.2 kg cylinder on March 7 and currently cost Rs 913 in Delhi.
