BJP fielding RG Kar Hospital victim’s mother creates political row

by Hansraj Agrawal | Mar 26, 2026 | Business

After the BJP fielded Ratna Debnath, mother of the RG Kar Hospital rape and murder victim to contest the Assembly elections, a major political row has erupted in West Bengal politics. After over one-and-half years of the brutal incident in Kolkata’s state-run RG Kar Medical College and Hospital, the major issue that had largely subsided has re-emerged in the State’s political and social arena.

public opinion

The matter has literally divided public opinion after Debnath decided to fight elections as a BJP candidate, with a section supporting her to turn her grief into a political battle, while others criticised her decision to politicise a movement that was mostly apolitical in nature.

Bengal witnessed waves of mass protests, involving various apolitical groups and citizens’ forums, demanding justice for the victim and severe punishment for everyone involved in the heinous crime. The body of the on-duty woman doctor was found in the hospital on August 9, 2024. After fielding Ratna Debnath from the Panihati constituency in North 24 Parganas district, the BJP said this is not just a candidature, it is a fight for justice.

“Let us not forget how the Mamata Banerjee government handled this horrific crime. From attempts to suppress the truth, erasing evidence, mishandling the autopsy, hurried cremation, failure to preserve samples for further forensic examination to tampering with the crime scene, serious questions were raised at every step,” said BJP leader Amit Malviya on social media platform X on Thursday.

“The people of West Bengal deserve accountability. They deserve a government that stands with victims, not one that appears to shield wrongdoing,” Malviya added. Suvendu Adhikari, the Leader of Opposition, met the Debnath family with party workers. The parents of the deceased doctor said their decision to align with the saffron party for the upcoming Assembly elections was driven by their continued fight for justice. And, they believe only the BJP can ensure justice for their daughter and provide safety and security to the women of the State.

Debnath will contest against Kalatan Dasgupta, the CPI-M candidate in the constituency, considered a Trinamool stronghold. Dasgupta was among the young Turks of the Left party, which was involved in the mass protests that followed the brutal incident. A political controversy erupted when the murdered doctor’s parents criticised the CPM-led Left, accusing it of benefiting politically from their daughter’s death and helping the Trinamool Congress remain in power.

“The Left fought for justice and to ensure safe nights and safe days for women in Bengal. And Rightists (BJP) have used the incident for their political benefit,” CPI-M State Secretary MD Salim told businessline.

“Now, it became a political battle, perpetrator of the crime on one side along with those who wanted to put it under carpet and never allowed a proper investigation, and on the other side, millions of people, including women, not seeing the cast, creed, language or identity of the victim. This was universal and the whole movement was Left-oriented,” said Salim, adding that in West Bengal a united Left resurgence started with such movements.

Tilottama Majumdar, a renowned Bengali author, observed that the victim’s mother has every right to turn her grief into a political battle to ensure justice for her young daughter. “Nobody in this world has gone through more pain than her. It is her right to fight an election and in today’s Bengal she could opt only for BJP, the main Opposition party,” said Majumdar.

“The BJP was trying to capitalise from the mass movement that Bengal saw after this gruesome incident. They were not able to. But, now they can. But, I don’t think this matter is now becoming a major political issue,” said political analyst Sabyasachi Basu Ray Chaudhury.

Published on March 26, 2026

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Chennai Petroleum announces ₹8 per share interim dividend

by Hansraj Agrawal | Mar 26, 2026 | Business

The Board of Directors of Chennai Petroleum Corporation Ltd. on Thursday declared an interim dividend of ₹8 per equity share of face value ₹10 each for the financial year 2025-26.

The interim dividend will be paid to the eligible shareholders on or before April 25, 2026, the oil major said in an exchange filing.

The Board has also fixed Thursday, April 2, 2026, as the “record date” for the purpose of ascertaining the eligibility of shareholders for payment of the interim dividend.

Published on March 26, 2026

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Crude oil supply for 4 months; LPG production up with shortfall down to 30,000 tons/day

by Hansraj Agrawal | Mar 26, 2026 | Business

Gas flaring at an oil refinery.
| Photo Credit:
HHakim

The government on Thursday asserted that India’s energy supply is “fully secure and under control,” with two months’ worth of crude oil stocks and an equivalent volume of cargoes already secured for the next two months.

India’s liquefied petroleum gas (LPG) production has been ramped up to a record 50,000 tonnes per day, meeting over 60 per cent of the country’s requirement. This has reduced the net daily import requirement to 30,000 tpd.

“All retail fuel outlets have enough supplies. There is no shortage of petrol, diesel, or LPG anywhere in the country. The Ministry calls upon citizens not to be misled by a deliberately mischievous, coordinated campaign of misinformation that is being carried out to spread unjustified panic,” the Ministry of Petroleum and Natural Gas (MoPNG) said.

Robust stock cover

India has a total reserve capacity of 74 days, with actual stock cover currently at around 60 days — including crude, petroleum products, and strategic cavern storage — even as the West Asia crisis enters its 27^th day.

All Indian refineries are operating at over 100 per cent utilisation, MoPNG noted.

“Nearly two months of steady supply is available for every Indian citizen regardless of global developments. The next two months of crude procurement has also been secured. India is completely secure for the coming months, and the quantity in strategic cavern storage becomes secondary in such a supply situation,” the Ministry added.

The Ministry said that under the LPG Control Order, domestic refinery production has been increased by 40 per cent, taking daily output to 50,000 tonnes against a requirement of about 80,000 tonnes.

Cargoes en route

“The net daily import requirement has consequently come down to only 30,000 tonnes. In addition, 800,000 tonnes of assured inbound LPG cargoes are secured and en route from the US, Russia, Australia and other countries, arriving across India’s 22 LPG import terminals,” it said.

Published on March 26, 2026

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Piramal Finance receives order allowing a tax loss of ₹10,110 crore

by Hansraj Agrawal | Mar 26, 2026 | Business

Piramal Finance Ltd said it received an order allowing a tax loss of ₹10,110 crore in relation to the return of income filed by the company for FY 2023-24 (AY 2024-25). This is pursuant to the assessment proceedings.

With this order, the cumulative assessed tax losses stand at approximately ₹24,600 crore, the company said in a regulatory filing.

The company said its case for AY 2024-25 was selected for scrutiny under Computer-Assisted Scrutiny Selection.

According to tax experts, the company can carry forward the losses for seven years and will be tax-neutral.

Published on March 26, 2026

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SEBI reviews HDFC Bank disclosures after Chakraborty’s exit

by Hansraj Agrawal | Mar 26, 2026 | Business

SEBI’s has begun a review of the HDFC Bank episode, with the focus initially on disclosure hygiene and could widen into a broader governance probe if the resignation of former chairman Atanu Chakraborty points to deeper concerns, sources said.

“The examination is to verify the claims made in the resignation letter and check if anything material has been left out or misreported,” a person familiar with the discussions said, adding that further action would be taken if required.

Under SEBI’s Listing Obligations and Disclosure Requirements (LODR) rules, listed entities are required to disclose such independent director resignations within prescribed timelines, along with detailed reasons and the resignation letter.

The regulator’s action follows Chakraborty’s resignation last week citing “certain happenings and practices within the bank” over the last two years that were “not in congruence” with his personal values and ethics. The resignation letter triggered an 8.7 per cent fall in the stock the following day, and wiped out about ₹1.35 trillion in market value over three sessions.

“This begins as a disclosure matter under LODR… but can shift to an accountability review if non-compliance or ethical lapses surface,” said Alay Razvi, managing partner at Accord Juris.

The immediate regulatory focus is expected to be on whether the bank’s stock exchange filings fully and accurately reflect internal board discussions. “SEBI is essentially examining whether what reached the market accurately reflects what transpired inside the institution,” said Ankit Rajgarhia, designate partner at Bahuguna Law Associates.

If discrepancies are found, SEBI can call for board and committee minutes, internal correspondence, audit reports and written explanations from the company, its management and directors. It may also summon individuals and seek records under Sections 11 and 11C of the SEBI Act.

“The intent to examine board minutes signals it is widening into a full corporate governance review, not stopping at disclosure compliance,” said Diviay Chadha, partner at Singhania & Co.

Without commenting on specific cases, SEBI Chairman Tuhin Kanta Pandey at a recent press meet said, “No one can make insinuations without proper evidence being recorded… Independent directors have to be responsible in terms of what they say,” he said.

The Reserve Bank of India said it had found “no material concerns on record” regarding the bank’s conduct or governance. Emailed queries to SEBI and HDFC Bank remained unanswered.

An independent director must raise concerns of ethics or governance within the board, ensure they are recorded in minutes and escalate to committees before resignation. “The company must thoroughly deliberate on such concerns, minute the objections and take remedial measures,” said Supriya Majumdar, partner at Elarra Law Offices.

If unresolved, escalation through whistleblower mechanisms or resignation with recorded reasons may follow, said B. Shravanth Shanker, managing partner at B. Shanker Advocates LLP.

The direction of SEBI’s review will depend on whether disclosures are found to be complete and whether the resignation points to a larger governance issue.

* SEBI’s preliminary review to focus on disclosure adequacy

* Checking for omissions, misreporting in filings under LODR

* Board conduct, fiduciary duties under scrutiny

* Probe may widen into governance review

* RBI finds no material concerns on record

Published on March 26, 2026

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India’s wheat output may drop by over 1% from initial 120 million tonnes estimate, says private survey

by Hansraj Agrawal | Mar 26, 2026 | Business

Uttar Pradesh emerges as the most extensively affected State, with damage ranging from high (only in Bijnor district) to moderate and low categories in 23 districts, reflecting widespread impact
| Photo Credit:
PTI

Four districts in three States — Punjab, Bihar and Uttar Pradesh — are likely to lose 10-15 per cent of their wheat production due to unseasonal rainfall, according to a preliminary report by private agency Agriwatch. The agency was commissioned by the Roller Flour Millers’ Federation of India. On the other hand, 5-10 per cent crop damage has been reported from as many as 21 districts in five States.

The overall yield loss in wheat at the pan-India level could be 1-1.5 per cent, sources said, adding the loss may be 2–3 per cent in highly affected States. The government has estimated India’s wheat production this year to touch a record 120.21 million tonnes.

According to the India Meteorological Department, unseasonal rains along with sporadic hailstorms were observed during March 11-22 in many districts of wheat-growing Punjab, Haryana, Uttar Pradesh, Bihar, Rajasthan and Madhya Pradesh. Though some damage to the wheat crop has been reported from West Bengal and Gujarat, those were negligible, sources said.

2 major concerns

Farmers in many of the affected districts said that lodging and damage to matured crops from hailstorms were two major causes of concern, which may affect the quality, potentially causing lustre loss in the grain. Shrivelling of grain has also been reported as before the rain there was a sudden spurt in day temperatures as high as 35 degrees Celsius in some States.

“Unlike in 2022 when temperature rise was sudden and persisted for a longer period in March, this time the unseasonal rain helped cool down the temperature and even if there is loss where the rainfall was heavy and there were strong winds, overall impact may be lower,” said Balbir Tyagi, a farmer in UP’s Hapur district.

Quoting the Agriwatch report, sources said the rain impacted wheat-growing regions across northern and central India, particularly affecting crops at the grain filling to maturity stage. The impact varied spatially, with localised pockets of moderate to high damage amid largely low-intensity losses.

High damage pockets (10–15 per cent) are limited and scattered in parts of northern Uttar Pradesh, Punjab, Bihar and West Bengal, the sources said. Moderate damage zones (5–10 per cent) are more widely distributed, especially across Haryana, Uttar Pradesh and Punjab, indicating rainfall-induced stress during critical crop stages.

UP most hit

However, low to very low impact areas (less than 5 per cent) cover a majority of districts across Madhya Pradesh, Rajasthan and Gujarat, suggesting partial yield and quality loss rather than severe crop failure. In the remaining areas, dispersed across all States, the damage is negligible, the sources said.

As many as 10 districts of Bihar have reported damage, out of which only Begusarai and Supaul may have higher losses (10-15 per cent) whereas Madhubani, Nalanda and Sitamarhi districts may have 5-10 per cent yield drop.

On the other hand, Haryana recorded widely distributed but mostly low to moderate losses due to lodging and moisture stress, the sources said. Madhya Pradesh and Rajasthan also have low-intensity impacts in isolated pockets.

Published on March 26, 2026

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