Hindenburg’s ghost returns: profit or conspiracy to defame?
The ghost of Hindenburg has returned once again. The American short-selling firm Hindenburg Research has come out with a new report, after which a series of accusations and counter-accusations have started. Where Adani Group called Hindenburg’s accusations false and baseless and said that Hindenburg’s accusations were made as part of a conspiracy to make profits. At the same time, different experts have also started giving their opinion on this report. Some say that the American research firm made these accusations to make profits, while others say that Hindenburg’s accusations are baseless. They are just an attempt to throw mud. We tell you what the experts think about the Hindenburg Report…
try to throw mud
According to the media report, Nilesh Shah, Managing Director, Kotak Mahindra Asset Management Company, while reacting to the new Hindenburg Research report on a WhatsApp group, said, “In ancient times, when sages and saints used to perform Yagya, at that time demons tried to defile the Yagya. It used to come forward. Hindenburg is a perfect example of it. It is just throwing mud in the hope of dirtying the other person. Fortunately now there is social media. Now such narratives are immediately leveraged.”
SEBI rejected the claims
In the latest case, Hindenburg accused market regulator SEBI chairperson Madhabi Puri Buch and her husband Dhawal Buch of having financial links with the Adani Group. However, both husband and wife have issued statements rejecting Hindenburg’s allegations. Adani Group has also sent its response to the stock exchanges saying that it has no business relationship with the SEBI chief.
The Hindenburg Report is a success
Meanwhile, former Economic Advisor to India (2018-21) KV Subramaniam has also expressed his opinion in the Hindenburg case. On social media, he has said that the Hindenburg report is actually a success. He said in his post that I have personally known SEBI Chairman Madhabi for almost two decades. Given his renowned honesty and intellectual ability, I am sure that he will thwart this successful Hindenburg work.
He also shared a thread with a handle called Bhagwan Uvaach Office. The former economic advisor says: The user’s thread explains well how Hindenburg Research’s new report lacks intellectual substance and the entire report is just a hit. KV Subramaniam also dismissed the attack made by Hindenburg on the Adani Group a year and a half ago. He had even then described Hindenburg’s efforts as a success.
Adani is an excuse, Indian economy is the real target
Similarly, Voice of Banking founder Ashwani Rana also said in a statement that Hindenburg is targeting the Indian economy and is repeatedly creating sensationalism to destroy it. Adani Group is just an excuse, Hindenburg’s real target is the Indian economy, the Indian stock market.
What’s the problem?
Hindenburg Research shared the report on its website yesterday i.e. on Saturday. Hindenburg Research had alleged that documents obtained from the whistleblower revealed that SEBI chairperson Madhabi Puri Buch had a stake in the offshore entities that were used in the Adani money siphoning scandal. Hindenburg in its report said that the current SEBI chairperson and her husband Dhawal Butch had stakes in the same shady Bermuda and Mauritius offshore funds used by Gautam Adani’s brother Vinod Adani.
Adani Group suffered losses after last year’s report
In January last year, a Hindenburg report accused the Adani Group of fraud. Following this report, there was a huge fall in the shares of the Adani Group. Adani suffered a loss of over $150 billion. Let us tell you that recently SEBI had issued a show-cause notice to Hindenburg.
