2018 Literature Nobel postponed over sexual assault scandal
This year's Nobel Prize in Literature has been postponed in the wake of a sexual and financial scandal that has engulfed the Swedish Academy, the cultural institution responsible for awarding the prestigious prize.
The academy, one of Sweden's most highly respected institutions, made the announcement Friday morning following a meeting of its remaining 10 active members Thursday evening.
"We find it necessary to commit time to recovering public confidence in the academy before the next laureate can be announced," Anders Olsson, the academy's permanent secretary, said in a statement. He said the academy was acting "out of respect for previous and future literature laureates, the Nobel Foundation and the general public."
The decision does not affect the other Nobel prizes, which are awarded separately. This year's laureate will be announced in 2019, the academy said.
The crisis centers on a string of allegations against Jean-Claude Arnault, a leading cultural figure in Sweden and husband of Katarina Frostenson, who was an academy member until she stepped down in the wake of the scandal.
Arnault, who has attended many Swedish Academy events, is facing multiple allegations of sexual assault and harassment, first reported in the Swedish newspaper Dagens Nyheter late last year. The academy announced the following day that it had cut all ties with Arnault.
Carl-Henrik Heldin.The Chairman of the Board of the Nobel Foundation released the following brief
The Swedish Academy has decided to postpone the 2018 Nobel Prize in Literature, with the intention of awarding it in 2019. According to the Swedish Foundations Act, the Nobel Foundation is ultimately responsible for fulfilling the intentions in the will of Alfred Nobel. During the past several weeks, we have pursued a continuous dialogue with the Swedish Academy, and we support Thursday’s decision.
In principle, the Nobel Prize shall be awarded every year, but decisions on Nobel Prizes have been postponed on a number of occasions during the history of the prizes. One of the circumstances that may justify an exception is when a situation in a prize-awarding institution arises that is so serious that a prize decision will not be perceived as credible.
The crisis in the Swedish Academy has adversely affected the Nobel Prize. Their decision underscores the seriousness of the situation and will help safeguard the long-term reputation of the Nobel Prize. None of this impacts the awarding of the 2018 Nobel Prizes in other prize categories.
The Nobel Foundation presumes that the Swedish Academy will now put all its efforts into the task of restoring its credibility as a prize-awarding institution and that the Academy will report the concrete actions that are undertaken. We also assume that all members of the Academy realise that both its extensive reform efforts and its future organisational structure must be characterised by greater openness towards the outside world.
The Nobel Prize for Literature has been awarded by the Swedish Academy since its inception following the death of Alfred Nobel in 1896. The prize was postponed on seven previous occasions, six of which occurred during World War I and II. Recent winners include Kazuo Ishiguro, Doris Lessing and Bob Dylan.
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None of Adani portfolio companies subject to any legal case: Group CFO on promoter indictment in US
New Delhi, Nov 23: None of Adani group portfolio companies, comprising 11 listed firms, have been accused of any wrongdoing, conglomerate's CFO Jugeshinder Robbie Singh said on founder and chairman Gautam Adani's indictment on bribery charges in the US.
In a post on X, Singh said the group would make a detailed comment on the US indictment once it gets counsel approvals.
Adani and seven other defendants, including his nephew Sagar Adani, allegedly agreed to pay about USD 265 million in bribes to Indian government officials between approximately 2020 and 2024 to obtain lucrative solar energy supply contracts on terms that were expected to yield USD 2 billion of profit over 20 years, according to an indictment unsealed in a New York court on Wednesday.
The Securities and Exchange Commission of the US has also charged Gautam Adani and Sagar Adani, executives of Adani Green Energy Ltd and Cyril Cabanes, an executive of Azure Power Global, for "conduct arising out of a massive bribery scheme".
"There is a lot of news and reports that will try to pick unrelated items and create a headline. My humble request is that we will respond in the fullness of time once we review in detail the matter as presented in the legal filing," Singh said.
He hastened to add that no court has ruled on the indictment, and as outlined by lawyers of the US Department of Justice, these are "allegations and the accused have a presumption of innocence".
The CFO, who was the first line of defence when US short-seller Hindenburg Research had accused the ports-to-power conglomerate of fraud in January 2023, said the group became aware of the "specificity" of the US indictment against founder and chairman Gautam Adani two days ago.
"We were aware that something is afoot (and in February 2024 144a offering circular in Risk Factors we disclosed as such. This was the first public issuance of any of our portfolio companies or their subsidiaries or joint venture companies after our annual results of 31st March 2023)," he said.
He, however, did not state what the company had disclosed in February 2024.
Adani Group, he said, has a portfolio of 11 public companies and "none are subject to indictment (i.e. defendants in any legal proceedings in the recent DOJ lawyer filings to a court in NYC)".
"None of the issuers (i.e. companies in our portfolio or specific issuers that are subsidiaries of the public companies) are accused of any wrongdoing in the said legal filing," he said.
The indictment "relates to one contract of Adani Green, which is roughly 10 per cent of overall business of Adani Green (there is a lot more precise and comprehensive detail of this which we will elaborate in an appropriate forum)," he said.
The statement comes two days after Gautam Adani was charged by US prosecutors over his role in an alleged years-long scheme to pay USD 265 million (about RS 2,200 crore) bribes to Indian officials to secure solar energy contracts. The conglomerate has denied the allegations, calling them baseless, and announced plans to seek legal recourse.
The Adani Family has 11 listed entities on the Indian stock exchanges - flagship incubator Adani Enterprises Ltd, electricity producer Adani Power Ltd, ports company Adani Ports & SEZ, power transmission firm Adani Energy Solutions Limited, renewable arm Adani Green Energy Ltd (AGEL), city gas distributor Adani Total Gas Ltd, commodities firm Adani Wilmar Ltd, media firm New Delhi Television Ltd and cement companies Ambuja Cements Limited, ACC Ltd, and Sanghi Industries Ltd.
"There is a lot of news and reports that will try to pick unrelated items and create a headline. My humble request is that we will respond in the fullness of time once we review in detail the matter as presented in the legal filing (Please note that no court has ruled on this and as outlined by lawyers of DOJ these are 'allegations and accused have a presumption of innocence'). We will make a more detailed comment once we get counsel approvals to discuss what we can in public on a matter that is sub-judice," he added.
