Hindenburg Research Accusations Spur Conspiracy Theories Linking Congress with Economic Sabotage

Shiv Sena leader Sanjay Nirupam has labeled allegations by Hindenburg Research against SEBI Chairperson Madhabi Buch as part of a larger conspiracy to attack India's stock market. Madhabi Buch and her husband denied these claims, accusing Hindenburg of character assassination. The Supreme Court has directed SEBI to investigate pending cases.

Shiv Sena leader Sanjay Nirupam on Monday accused Hindenburg Research of orchestrating a conspiracy to destabilize India's stock market, implicating the Congress party in the scheme. This comes after the US-based short seller leveled serious allegations against SEBI Chairperson Madhabi Buch and her husband.

According to Hindenburg Research, Madhabi Buch and her husband held stakes in offshore entities linked to the Adani money siphoning scandal. The couple vehemently denied the claims in a joint statement, accusing Hindenburg of character assassination and expressing their willingness to share all financial documents with authorities.

Hindenburg's report has drawn significant attention since January 2023, when it accused the Adani Group of financial irregularities. Following these allegations, a steep decline was observed in Adani's stock prices. The Supreme Court has ordered SEBI to expedite its investigation into the matter.