Following the opposition’s criticism of the government regarding the US short seller Hindenburg’s allegations against SEBI Chairperson Madhabi Buch and her spouse, BJP leader Rajeev Chandrasekhar dismissed the report as a “conspiracy” aimed at undermining India’s financial system, stating that the report lacks credibility. Chandrasekhar also accused Congress of soliciting foreign assistance to destabilize India’s financial system and create disorder by targeting the independent regulator, the Securities and Exchange Board of India (SEBI).
1. In an interview with ANI, BJP leader and ex-Union Minister Rajeev Chandrasekhar accused the Congress of engaging in a decade-long strategy of deceit and now allegedly seeking foreign assistance to undermine India’s financial stability. He criticized the attacks on SEBI and its chairman, labeling them a conspiracy to destabilize India’s economy and discredit its financial institutions.
2. He emphasized that such actions should not be tolerated as India is progressing and growing. He dismissed the credibility of the report, calling it a crime to use innuendos and lies against an independent regulator.
3. Chandrasekhar further claimed that there is a deliberate plan behind these reports, suggesting that they contain a mix of speculation and small truths. He boasted about the strength of India’s financial system, contrasting it with the failing banks and stock markets in the USA, and credited PM Modi for rebuilding the financial sector over the past decade, leading to India’s rapid economic growth.
4. Additionally, BJP Spokesperson Sudhanshu Trivedi hinted at Congress’s involvement in the Hindenburg report, noting that such foreign reports tend to surface when the Parliament session begins.
5. While speaking with ANI, Trivedi said, “In recent years, it seems that the commencement of Parliament sessions is often accompanied by the release of foreign reports. Whether it’s a BBC documentary, the Hindenburg report in January, or various reports on religious freedom and farmers, these tend to surface right as Parliament convenes. The opposition’s promotion of such reports raises suspicions of their international ties aimed at disrupting the sessions.”
6. Trivedi also criticized the Congress party for seeking intervention from foreign entities in India’s affairs, stating, “This issue is of grave concern, especially since the only election where a foreign individual, George Soros, openly declared a billion-dollar investment to overthrow the Modi government.”
7. “It’s puzzling why Rahul Gandhi reserves his criticism for international platforms. The opposition appears to be orchestrating economic turmoil through confusion, targeting both public and private sectors, Trivedi added.
8. Responding to new accusations from Hindenburg Research against the Adani Group, the conglomerate’s spokesperson denounced the claims as “malicious and manipulative, cherry-picking public information to support biased conclusions for personal gain, while blatantly ignoring the facts and legal framework.”
9. Earlier, Hindenburg Research had made allegations on August 10 against SEBI Chairperson Madhabi Buch and her spouse, claiming they held stakes in certain offshore entities.
10. Madhabi Puri Buch and her husband accused Hindenburg Research, against whom SEBI has taken enforcement action, of character assassination.
