Bharatiya Janata Party (BJP) has strongly criticized Short seller Hindenburg Research following the announcement that it would shut down its operations. BJP leaders, including spokesperson Shehzad Poonawalla and Amit Malviya, have accused the firm of conducting an orchestrated attack aimed at destabilizing India’s economy and undermining its growing economic power.
Poonawalla, speaking to ANI, labeled Hindenburg’s reports as part of a “supari” (contract killing) against India’s economic rise. He described the firm’s actions as “sponsored, organised, orchestrated and manipulated,” framing them as a form of economic anarchism and terrorism. He also raised questions about the links between Congress leader Rahul Gandhi and Hindenburg, urging the party to clarify its position on the reports and apologize for its reliance on them.
BJP’s Criticism
In a broader critique, Malviya pointed out that Hindenburg’s closure coincided with investigations by the US Department of Justice into the firm’s operations, noting the timing and questioning the motives behind the report. Malviya linked the firm’s actions to an alleged agenda against the Indian stock market, which is heavily participated in by retail investors, and accused the Congress party of aligning with these interests to further destabilize the economy.
Hindenburg Research gained global attention in January 2023 after publishing a report accusing the Adani Group of financial irregularities. Adani Group Chairman Gautam Adani responded to the allegations during the company’s Annual General Meeting in June, dismissing the accusations as baseless attacks aimed at tarnishing the group’s reputation. He emphasized that despite the challenges, the group’s foundations remained strong.
Hindenburg’s founder, Nate Anderson, announced the decision to disband the firm on Thursday, stating that it was a personal decision to step back from the intensity of his work rather than being motivated by external pressures or health concerns. The closure of the firm marks a dramatic end to a period of controversial reports and legal battles involving high-profile companies and figures.
As the political debate continues, BJP has called for clarity from opposition parties, particularly the Congress, regarding their past alignment with Hindenburg’s reports, emphasizing the impact these allegations had on India’s economy.
(With ANI Inputs)
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