The Evening Wrap: Adani Group to explore legal options against Hindenburg

A day after the U.S. short-seller Hindenburg released its research report raising serious concerns about the Adani Group’s “substantial debts”, the Adani Group said it is evaluating the relevant provisions under the U.S. and Indian laws for remedial and punitive action against Hindenburg Research. Responding to the statement, Hindenburg Research said it welcomed the Adani Group’s “threat” of legal action. “We fully stand by our report and believe any legal action taken against us would be meritless,” it said. In a statement on January 26, Adani Group’s legal head Jatin Jalundhwala stated that the research report was an “intentional and reckless attempt by a foreign entity” and stressed that it was meant to “sabotage the FPO (Follow-on Public Offering) from Adani Enterprises.” “We are deeply disturbed by this intentional and reckless attempt by a foreign entity to mislead the investor community and the general public, undermine the goodwill and reputation of the Adani Group and its leaders,” the statement quoted Jalundhwala as saying. India launched first intranasal COVID-19 vaccine iNCOVACC Union Ministers Mansukh Mandaviya and Jitendra Singh have launched the first-of-its-kind intranasal COVID-19 vaccine iNCOVACC manufactured by Hyderabad-based vaccine developer Bharat Biotech International Limited. A rollout of iNCOVACC is expected to begin in private hospitals that have placed advance orders. It is priced at ₹800 per dose in private settings. For large volume procurement by States and the central government it is priced at ₹325 per dose. Initial manufacturing capacity of several million doses per annum has been established, this can be scaled up to a billion doses as required, said a BBIL spokesperson. It is the world’s first Intranasal vaccine for COVID to receive approval for the primary 2-dose schedule, and as a heterologous booster dose, administered as nasal drops. This means that those who have previously taken vaccines like Covidshield or Covaxin can take iNCOVACC as a booster. A BBIL spokesperson further said that Phase III trials (as a 2-dose regimen) were conducted for safety and immunogenicity in up to 3100 subjects, in 14 trial sites across India. Also, heterologous booster dose studies were conducted for safety and immunogenicity in up to 875 subjects, with BBV154 intranasal vaccine administered in those previously completing a regimen of the commonly administered COVID vaccines. The trials were conducted in 9 trial sites across India. The intranasal vaccine is stable at 2-8°C. It is a recombinant replication-deficient adenovirus vectored vaccine with a pre-fusion stabilised spike protein. Delhi L-G invites CM, MLAs for meeting; Kejriwal to seek another date Amid the ongoing tussle between the Aam Aadmi Party-led Delhi government and his office, Lieutenant Governor V.K. Saxena has invited Chief Minister Arvind Kejriwal, along with his Ministers and 10 AAP MLAs, for a meeting at the Raj Niwas on Friday evening, according to Raj Niwas officials. However, while thanking the L-G for an appointment, Kejriwal said that he will be going to Punjab on Friday and will request an appointment “for some other time”. The two sides have been at odds over multiple issues concerning the Delhi government, including the proposed training of primary teaching in-charges and educators of the State Council of Educational Research and Training in Finland. Despite being at loggerheads, the two were seen sharing a cordial moment on Tuesday, during the ‘At Home’ function hosted by the L-G at Raj Niwas, which was also attended by politicians from the Bharatiya Janata Party, including Northeast Delhi MP Manoj Tiwari. No backchannel talks with India, says Pakistan Minister Pakistan said that no backchannel talks were being held between Islamabad and New Delhi. “At this moment, there is no such thing under way,” Minister of State for Foreign Affairs Hina Rabbani Khar told the Senate — the upper house of the country’s parliament. She added that backchannel diplomacy was desirable when it was result-oriented. Separately, Foreign Office spokesperson Mumtaz Zahra Baloch at the weekly media briefing reiterated Khar’s remarks about no secret diplomatic engagements with India. “There is no backchannel diplomacy between India and Pakistan,” Baloch said. Speaking in the Senate, Khar said that Pakistan had always taken initiatives to promote peace in the region but “right now, the cross-border hostility [from India] is of a unique type.” She said that Pakistan was asked at international forums sometimes to normalise its ties with India, but the world should look at the messages New Delhi was sending to Islamabad. “The messages that we are getting are all conflagratory. Pakistan has the largest interest in unleashing [the potential of] this region but when you have a government on the other side whose prime minister says that their nuclear assets are not for Diwali […] then what can we do?” Khar told the Senators. In Brief: Eight people including six Chinese nationals, died after a ship sank in waters off the coast of Japan, a Chinese diplomat and the Japanese coast guard said. The Jin Tian, carrying crew from China and Myanmar, sent a distress signal on Tuesday evening from a position around 110 km west of the remote and uninhabited Danjo Islands in far southwestern Japan. The ship’s captain used a satellite phone to tell the South Korean coast guard that he and the crew would abandon the sinking ship in the early hours of Wednesday morning, the Jeju coast guard said. Multiple vessels and aircraft from Japan’s coast guard and military were also involved in the search, which retrieved 13 crew members. Evening Wrap will return tomorrow. [logo] The Evening Wrap 26 JANUARY 2023 [The Hindu logo] Welcome to the Evening Wrap newsletter, your guide to the day’s biggest stories with concise analysis from The Hindu. [[Arrow]Open in browser]( [[Mail icon]More newsletters]( Adani Group to explore legal options against Hindenburg in India, U.S. A day after the U.S. short-seller Hindenburg released its research report raising serious concerns about the Adani Group’s “substantial debts”, the [Adani Group said it is evaluating the relevant provisions under the U.S. and Indian laws for remedial and punitive action against Hindenburg Research](. Responding to the statement, Hindenburg Research said it welcomed the Adani Group’s “threat” of legal action. “We fully stand by our report and believe any legal action taken against us would be meritless,” it said. In a statement on January 26, Adani Group’s legal head Jatin Jalundhwala stated that the research report was an “intentional and reckless attempt by a foreign entity” and stressed that it was meant to “sabotage the FPO (Follow-on Public Offering) from Adani Enterprises.” “We are deeply disturbed by this intentional and reckless attempt by a foreign entity to mislead the investor community and the general public, undermine the goodwill and reputation of the Adani Group and its leaders,” the statement quoted Jalundhwala as saying. India launched first intranasal COVID-19 vaccine iNCOVACC Union Ministers [Mansukh Mandaviya and Jitendra Singh have launched the first-of-its-kind intranasal COVID-19 vaccine iNCOVACC]( manufactured by Hyderabad-based vaccine developer Bharat Biotech International Limited. A rollout of iNCOVACC is expected to begin in private hospitals that have placed advance orders. It is priced at ₹800 per dose in private settings. For large volume procurement by States and the central government it is priced at ₹325 per dose. Initial manufacturing capacity of several million doses per annum has been established, this can be scaled up to a billion doses as required, said a BBIL spokesperson. It is the world’s first Intranasal vaccine for COVID to receive approval for the primary 2-dose schedule, and as a heterologous booster dose, administered as nasal drops. This means that those who have previously taken vaccines like Covidshield or Covaxin can take iNCOVACC as a booster. A BBIL spokesperson further said that Phase III trials (as a 2-dose regimen) were conducted for safety and immunogenicity in up to 3100 subjects, in 14 trial sites across India. Also, heterologous booster dose studies were conducted for safety and immunogenicity in up to 875 subjects, with BBV154 intranasal vaccine administered in those previously completing a regimen of the commonly administered COVID vaccines. The trials were conducted in 9 trial sites across India. The intranasal vaccine is stable at 2-8°C. It is a recombinant replication-deficient adenovirus vectored vaccine with a pre-fusion stabilised spike protein. Delhi L-G invites CM, MLAs for meeting; Kejriwal to seek another date Amid the ongoing tussle between the Aam Aadmi Party-led Delhi government and his office, [Lieutenant Governor V.K. Saxena has invited Chief Minister Arvind Kejriwal, along with his Ministers and 10 AAP MLAs, for a meeting]( at the Raj Niwas on Friday evening, according to Raj Niwas officials. However, while thanking the L-G for an appointment, Kejriwal said that he will be going to Punjab on Friday and will request an appointment “for some other time”. The two sides have been at odds over multiple issues concerning the Delhi government, including the proposed training of primary teaching in-charges and educators of the State Council of Educational Research and Training in Finland. Despite being at loggerheads, the two were seen sharing a cordial moment on Tuesday, during the ‘At Home’ function hosted by the L-G at Raj Niwas, which was also attended by politicians from the Bharatiya Janata Party, including Northeast Delhi MP Manoj Tiwari. No backchannel talks with India, says Pakistan Minister [Pakistan said that no backchannel talks were being held between Islamabad and New Delhi](. “At this moment, there is no such thing under way,” Minister of State for Foreign Affairs Hina Rabbani Khar told the Senate — the upper house of the country’s parliament. She added that backchannel diplomacy was desirable when it was result-oriented. Separately, Foreign Office spokesperson Mumtaz Zahra Baloch at the weekly media briefing reiterated Khar’s remarks about no secret diplomatic engagements with India. “There is no backchannel diplomacy between India and Pakistan,” Baloch said. Speaking in the Senate, Khar said that Pakistan had always taken initiatives to promote peace in the region but “right now, the cross-border hostility [from India] is of a unique type.” She said that Pakistan was asked at international forums sometimes to normalise its ties with India, but the world should look at the messages New Delhi was sending to Islamabad. “The messages that we are getting are all conflagratory. Pakistan has the largest interest in unleashing [the potential of] this region but when you have a government on the other side whose prime minister says that their nuclear assets are not for Diwali […] then what can we do?” Khar told the Senators. In Brief: [Eight people including six Chinese nationals, died after a ship sank in waters off the coast of Japan]( a Chinese diplomat and the Japanese coast guard said. The Jin Tian, carrying crew from China and Myanmar, sent a distress signal on Tuesday evening from a position around 110 km west of the remote and uninhabited Danjo Islands in far southwestern Japan. The ship’s captain used a satellite phone to tell the South Korean coast guard that he and the crew would abandon the sinking ship in the early hours of Wednesday morning, the Jeju coast guard said. Multiple vessels and aircraft from Japan’s coast guard and military were also involved in the search, which retrieved 13 crew members. Evening Wrap will return tomorrow. First Day First Show Stay up-to-date on all things cinema with the "First Day First Show" cinema & entertainment newsletter. Every week, we bring you movie reviews, news from regional cinema, Bollywood, Hollywood, and beyond, as well as updates from the streaming platforms. Whether you're a cinephile or just looking for your next great binge-watch, we've got you covered. 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