Why should prosecution continue when Tejashwi Yadav' has withdrawn statement, asks SC
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New Delhi (PTI): The Supreme Court on Monday adjourned till January 29 the hearing on Bihar Deputy Chief Minister Tejashwi Yadav's petition seeking transfer of the criminal defamation complaint pending against him in a Ahmedabad court over his alleged "only Gujaratis can be thugs" remark to a place outside the state, preferably Delhi.
A bench of Justices A S Oka and Ujjal Bhuyan deferred the matter after the counsel for the complainant sought time.
"Why should the prosecution continue when he has withdrawn the statement. You seek instructions otherwise we will exercise powers under Article 142," the bench said.
"The counsel for the respondent seeks time to seek instructions on statement filed by the petitioner (Yadav) on January 19. List on next Monday," the top court recorded in its order.
The top court, while hearing the RJD leader's plea, had earlier stayed the proceedings in the criminal defamation complaint and issued notice to the Gujarat resident who has filed it.
The complaint against Yadav was filed under sections 499 and 500 of the Indian Penal Code (IPC) for alleged criminal defamation.
The Gujarat court had in August conducted a preliminary enquiry against Yadav under section 202 of the Code of Criminal Procedure and found sufficient grounds to summon him on the complaint filed by Haresh Mehta, a local businessman and activist.
According to the complaint, Yadav, while talking to the media in Patna in March 2023, had said, "Only Gujaratis can be thugs in the present situation, and their fraud will be forgiven."
"Who will be responsible if they run away with the money belonging to the LIC or banks?" the Bihar Deputy CM had allegedly asked.
Mehta claimed Yadav's comments defamed all Gujaratis.
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Sensex, Nifty nosedive over 5 percent in early trade in tandem with global markets meltdown
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Mumbai (PTI): Stock market benchmark indices went into a tailspin in early trade on Monday, with the Sensex and Nifty crashing over 5 percent, mirroring a sharp fall in global equities, after US President Donald Trump's tariff hikes and retaliation from China fanned fears that a full-blown trade war will impact economic growth across the globe.
The 30-share BSE benchmark Sensex crashed 3,939.68 points or 5.22 percent to 71,425.01 in early trade. The NSE Nifty tumbled 1,160.8 points or 5.06 percent to 21,743.65.
All the Sensex firms were trading in the negative territory. Tata Steel dropped over 8 percent, followed by Tata Motors which cracked more than 7 per cent. HCL Technologies, Tech Mahindra, Infosys, Larsen & Toubro, Tata Consultancy Services and Reliance Industries were the other big laggards.
In Asian markets, Hong Kong's Hang Seng tanked nearly 11 percent, Tokyo's Nikkei 225 plunged nearly 7 percent, Shanghai SSE Composite index dropped over 6 percent and South Korea's Kospi index sank 5 percent.
US markets ended sharply lower on Friday. The S&P 500 plummeted 5.97 percent, Nasdaq composite slumped 5.82 percent and the Dow tumbled 5.50 percent on Friday.
"Both China and Japan index declined by 10 percent and 8 percent, respectively. This escalates the stakes in the ongoing trade war and raises concerns about a potential global recession that could affect everyone. On Friday, the US S&P 500 dropped by 6 percent, and the Dow Jones fell more than 2,000 points, marking its worst week since the COVID-19 crisis. This came after China announced it would impose reciprocal 34 percent tariffs on all US imports starting April 10," Vikas Jain, Head of Research at Reliance Securities, said.
The sharp increase in tariffs by both the US and China could lead to higher inflation, slower global growth, and intensify trade tensions, he added.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,483.98 crore on Friday, according to exchange data.
Global oil benchmark Brent crude dropped 2.74 percent to USD 63.78 a barrel.
On Friday, the Sensex tumbled 930.67 points or 1.22 percent to settle at 75,364.69. The Nifty declined 345.65 points or 1.49 percent to close at 22,904.45.
Last week, the Sensex tanked 2,050.23 points or 2.64 percent, while the NSE Nifty declined 614.8 points or 2.61 percent.
