Delhi High Court Halts CBI Criticism in Liquor Policy Case Amid Market Turmoil

Delhi High Court's Ruling on CBI Observations

The Delhi High Court has intervened to suspend the negative remarks made by a trial court regarding the Central Bureau of Investigation (CBI) in the liquor policy case. This decision comes as the court discharged all 23 defendants, including prominent Aam Aadmi Party figures Arvind Kejriwal and Manish Sisodia. The bench instructed the trial court to delay proceedings in the related money-laundering case until the High Court resolves the CBI's appeal against the discharge ruling.

Background of the Case

On February 27, a special court had cleared all individuals accused in the corruption case tied to the now-repealed excise policy of the Delhi government. The court criticized the CBI for implicating Kejriwal and Sisodia without substantial evidence, highlighting that the chargesheet contained numerous inconsistencies lacking witness support.

Market Reactions Amid Global Tensions

The Indian stock market has continued its downward trend, influenced by escalating concerns over the conflict in West Asia. The Sensex plummeted by 1.8%, while the Nifty fell by 1.7%. Additionally, the Indian rupee depreciated to 92.3 against the US dollar, down from 91.7 on Friday, largely due to surging global oil prices that exceeded $100 per barrel.

Oil Prices Surge

Benchmark Brent crude oil prices soared to $116 per barrel during the day before settling at $104. This is a significant increase from approximately $72.8 per barrel on February 27, just before the onset of the conflict.

Casualties in West Asia Conflict

According to Iranian Deputy Health Minister Ali Jafarian, over 1,250 individuals have lost their lives and around 12,000 have been injured since the conflict erupted on February 28, following a joint operation by Israel and the United States aimed at undermining the Iranian government.

Iran's Retaliation and Regional Impact

In response, Tehran has launched strikes against Israel and US military installations in the region, targeting major cities in neighboring Gulf countries and oil tankers. A drone attack in Bahrain aimed at Sitra island resulted in injuries to 32 civilians, as reported by the country's health ministry. Furthermore, Bahrain's state-owned energy company Bapco issued a force majeure notice, indicating that its operations were disrupted due to an attack on its refinery.

India's Diplomatic Engagement

During a parliamentary session, External Affairs Minister S. Jaishankar revealed that Iran had requested permission for three of its ships to dock at Indian ports, which was granted on March 1. The IRIS Lavan arrived at Kochi on March 4 and remains there. Jaishankar emphasized that this decision was appropriate, and the Iranian Foreign Minister expressed gratitude for India's assistance.

Opposition's Response

The Opposition staged a walkout during the session, claiming that MPs were not allowed to pose questions. The Congress party called for a discussion regarding the ongoing conflict in West Asia.

Sharjeel Imam's Interim Bail

Activist Sharjeel Imam has been granted a temporary bail of 10 days in connection with the larger conspiracy case surrounding the 2020 Delhi riots. A Delhi court has allowed him to be released from March 20 to March 30 to attend his brother's wedding. The court stipulated that during this period, Imam must not contact any witnesses or individuals associated with the case and is only permitted to meet family members.

Restrictions During Bail

Imam is also prohibited from engaging with the media or utilizing social media platforms during his bail period.