In a scathing critique, TV Mohandas Pai, Chairman of Aarin Capital, has dismissed the latest Hindenburg report targeting the Adani Group and the current SEBI Chairperson as a “piece of rubbish and a hit job.”
In an exclusive discussion with NewsX, Pai refuted the allegations made in the report, calling it a baseless attempt to create panic in India’s financial markets.
The Hindenburg report suggested a quid pro quo involving SEBI Chairperson Madhabi Puri Buch and her husband’s investment in a fund allegedly connected to the Adani Group. Pai firmly rejected these claims, clarifying that while the fund did have an investment that was redeemed by 2018-2019, it had no ties to the Adani Group at any time.
Pai accused Hindenburg of being a “vulture fund” that profits by short-selling and then releasing sensationalized reports to manipulate markets. He noted that SEBI had previously investigated Hindenburg for market manipulations and issued a notice against them, which, according to Pai, triggered Hindenburg’s retaliatory report against SEBI.
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Why Is Rahul Gandhi Blindly Believing Hindenburg’s Report?
Pai also criticized the Indian opposition, particularly Rahul Gandhi, for allegedly using the Hindenburg report to create trouble and undermine the credibility of India’s institutions. He asserted that these tactics were part of a broader agenda, linked to foreign entities like George Soros, aimed at destabilizing the country.
He said, “Why is it then that the entire opposition led by Rahul Gandhi are jumping on a report like this? Why is so much belief in Hindenburg?”
“The market has ignored this report,” Pai said, emphasizing that investors and market participants have shown confidence in SEBI and the Adani Group, dismissing the allegations as unfounded. He urged the public to “stand up and fight” against what he described as foreign-funded attempts to create chaos in India.
Pai concluded by calling the entire episode “bogus, rubbish, and throwing mud,” urging the ruling party to demand a Joint Parliamentary Committee (JPC) probe into the alleged links between opposition leaders and foreign entities like the Chinese Communist Party.
Watch the full discussion on NewsX
