Supreme Court Hearings
The Supreme Court will be a focal point on Thursday, August 22nd, with several significant hearings scheduled.
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Kolkata Rape Case:
The Supreme Court has directed the Central Bureau of Investigation (CBI) to submit a status report on the ongoing probe into the Kolkata rape case. The case, which sparked nationwide outrage, was transferred to the CBI on August 13th after the alleged rape and murder of a woman inside the RG Kar Medical College and Hospital on August 9th. The CJI has also announced the formation of a national task force to provide recommendations on improving the safety of doctors, highlighting the systemic issues exposed by the incident.*
Byju’s Insolvency Plea:
The Supreme Court will hear Byju’s plea concerning the revival of insolvency proceedings against the company. Byju’s had expressed concerns that a recent stay order on a settlement with the Board of Control for Cricket in India (BCCI) was being misinterpreted as a halt to the insolvency process. The stay was jointly agreed upon by Byju’s and the BCCI following an earlier decision by the National Company Law Appellate Tribunal (NCLAT) that allowed for a settlement.*
Bhima Koregaon Case Bail Plea:
The Supreme Court will consider the bail plea of activist Jyoti Jagtap, who is currently in jail in connection with the Elgar Parishad-Maoist links case. The court previously denied interim bail to Jagtap.Waqf Bill and Political Protests
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Waqf (Amendment) Bill:
The first meeting of the Parliament’s Joint Committee on the Waqf (Amendment) Bill is scheduled for August 22nd. The committee will engage with representatives from the ministries of minority affairs, law and justice to critically analyze the bill, which has faced opposition from several parties and Muslim organizations. The bill, which was introduced in the Lok Sabha on August 8th, aims to reform the registration process for Waqf properties using a centralized portal, and includes changes like establishing a Central Waqf Council and state Waqf Boards with representation from Muslim women and non-Muslim members. The designation of the district collector as the primary authority for determining Waqf property has also sparked contention.*
Congress Agitation on SEBI Chief Resignation:
Congress has announced a nationwide protest demanding the resignation of SEBI Chief Madhabi Puri Buch and a probe by a Joint Parliamentary Committee (JPC) into the Adani issue. The call for action follows allegations by Hindenburg Research on August 10th that Buch and her husband had stakes in obscure offshore funds involved in the alleged Adani money siphoning scandal. While the opposition demands Buch’s removal and a JPC investigation, the BJP has countered these calls, accusing the opposition of a conspiracy to create financial instability in the country.IPOs and Court Verdict
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IPOs:
The initial public offerings (IPOs) for two companies will begin on August 22nd:*
Rapid Multimodal Logistics:
This Chennai-based company offers logistical solutions to the B2B sector. The IPO will run from August 22nd to August 27th, with a price band set at ₹84 per share and a lot size of 1,600 shares.*
Resourceful Automobile:
This IPO will be open for bidding from August 22nd to August 26th, with a price band of ₹117 per equity share. The company aims to raise ₹11.99 crore through the IPO.*
