Hindenburg Report a Congress-backed conspiracy, Rahul Gandhi ‘Soros agent’: BJP

Hindenburg Controversy Latest News: Madhabi Puri Buch and Adani Group have issued separate statements denying the allegations. (PTI photo)

BJP’s Ravi Shankar Prasad lashed out at the Congress over the new Hindenburg report, which alleged that SEBI boss Madhabi Puri Buch and her husband Dhaval Buch has links with Adani Group’s obscure funds. Addressing media in New Delhi on Monday, Prasad took a sharp swipe at the main Opposition party. Calling Rahul Gandhi ‘Soros agent,' Prasad claimed that the report was a Congress-backed conspiracy to stop investments in India.

Referring to the 2024 Lok Sabha election results, Prasad said"...after being rebuffed by the people of India, the Congress party, its allies and the toolkit gang have conspired together to usher in economic anarchy and instability in India?”

Questioning the timing of the report, Prasad said that the findings were released on Saturday to spark outrage on Sunday. All this was aimed to trigger panic in capital markets on Monday, Prasad added.

While the politicians spar over the report, industry captains have backed the SEBI boss. "Madhabi Puri Buch's rebuttal has been fair, and there seems to be not an iota of truth in the allegations which seem to be an effort to create fiction out of nothing," said SEBI's ex-ED JN Gupta.

Turns out, the Hindenburg wasn’t so smart,
Its blackmail plan fell apart,
So now it’s remembered, not for its threats,
But for going down in a fiery mess...

— Vijay Kedia (@VijayKedia1) August 12, 2024

Ace investor Vijay Kedia also blasted the Hindenburg report. Kedia took to X to express his dismay. "Turns out, the Hindenburg wasn’t so smart, Its blackmail plan fell apart...," he said on X (formerly Twitter).

Hindenburg Research had first published its report "Adani Group: How The World's 3rd Richest Man Is Pulling the Largest Con in the Corporate History" on January 24, 20023. The report was released at the time of Adani Enterprises issuing Rs 24,000 crore FPO, which was ultimately withdrawn on February 1st, 2023.