Meera Shankar: 'It Puts India in a Very Difficult Spot'

In an exclusive interview with India Today, energy markets expert Dr. Anas Alhajji analyzed the global energy landscape, Hormuz Strait tensions, and the impact of geopolitical developments on India. Dr. Alhajji clarified that current market disruptions stem from refined products rather than crude oil, stating, 'The crisis is in diesel. That's where the crisis is.' He dismissed rhetoric surrounding US President Donald Trump's remarks at the United Nations, asserting that market fundamentals remain detached from political speeches. Evaluating India's strategic response, Dr. Alhajji highlighted how New Delhi successfully replenished its inventories by importing discounted Russian crude, in contrast to Japan's slower recovery under G7 restrictions. He noted that while Indian refiners face high margins because global refineries are maxed out, India faces unique challenges in liquefied petroleum gas supplies due to shifts in Saudi Arabian production. Additionally, he emphasized that US tariff legislation with a 180-day grace period would not severely disrupt Indian refinery operations.

Addressing the United Nations General Assembly in New York, US President Donald Trump issued sharp warnings to Iran, designating it as the world's primary sponsor of terrorism. Trump called upon global nations to completely isolate Iran economically until it halts attacks on commercial shipping, terminates support for terrorism, and relinquishes its nuclear ambitions. He stated that while a deal with Tehran remains possible after the midterms, his alternative option is to completely annihilate the regime. Discussing other key foreign policy topics, Trump noted that Washington is engaging with both Moscow and Kyiv regarding Ukraine, and described Cuba as a failed state, leading to walkouts by Iranian and Cuban delegations. On technology, Trump announced that official US government documentation will replace the term artificial intelligence with super intelligence, dismissing apocalyptic warnings regarding the technology while asserting that the United States currently leads China in the sector.

A report details the intensifying leadership succession dispute within the Tata Group following a contentious board decision regarding N. Chandrasekaran continuing as chairman over Noel Tata. Legal camps are preparing defenses as the issue heads toward potential court litigation. Finance Minister Nirmala Sitharaman highlighted the need to separate ownership from management in family businesses, while NCP SP leader Sharad Pawar defended the trust-nominated affirmative voting rights. Senior advocate Harish Salve addressed the dispute over converting Tata Sons into a public company and the application of a chairman's casting vote amid trustee disagreements.

In an interview with India Today, Senior Advocate and parliamentarian Abhishek Manu Singhvi defended the legal stance of Noel Tata and Tata Trusts in the ongoing boardroom conflict with Tata Sons. Singhvi argued that under Article 121 of the Articles of Association, no matter can be considered or decided by the board without the affirmative vote of a majority of Tata Trust nominees. He stressed that a majority out of two nominees requires both to agree, noting, "Mr. Noel Tata is one of the two who differed. That's it." Singhvi cited paragraph 219 of the Supreme Court's Cyrus Mistry verdict, affirming that trust veto rights are legally valid and non-oppressive. He further dismissed the Reserve Bank of India listing debate as a red herring, arguing it does not override statutory corporate governance and shareholder rights.