Hindenburg closure: Cong. rejects ‘clean chit’ to Adani

New Delhi: The Congress on Thursday rejected the claims that the closure of Hindenburg Research amounts to a “clean chit” for the Adani Group while renewing its demand for a Joint Parliamentary Committee (JPC) probe into the alleged financial irregularities of the conglomerate.

The Congress’ assertion came after Nate Anderson, the founder of Hindenburg Research, which had made allegations against billionaire Gautam Adani, announced that the US short-seller will disband. And the BJP attacked the Opposition party and its leaders, particularly Leader of Opposition in the Lok Sabha Rahul Gandhi, for “toeing the lines of urban naxals and anti-India forces”.

Congress general secretary communications Jairam Ramesh said, “The closure of Hindenburg Research does not, in any way, mean a clean chit for ‘Modani’.”

The Hindenburg report of January 2023 proved serious enough to compel the Supreme Court of India to set up an expert committee to probe the allegation made in it against the Adani Group, “whose prime patron is none other than the present Prime Minister of India”, Ramesh said in a statement.

The Congress general secretary added, “However, the Hindenburg Report covered only one part of securities laws violations -- of the hydra-headed ‘Modani MegaScam’. Out of the 100 questions on the Adani Mega Scam that the Congress party had asked of the Prime Minister in the Hum Adani ke Hain Kaun (HAHK) series during January-March 2023, only 21 questions related to revelations made in the Hindenburg Report.”

“The matter goes far deeper. It involves the abuse of Indian foreign policy to enrich the Prime Minister’s close friends at the expense of the national interest. It involves the misuse of investigative agencies to force Indian businesspersons to divest critical infrastructure assets and help Adani build monopolies in airports, ports, defence and cement,” Ramesh alleged.

The Congress leader further said it involves the capture of once-respected institutions such as the Sebi whose “discredited” chairperson continues in her position despite “clear evidence” of conflicts of interest and financial links to Adani. It is worth noting that a Sebi investigation that the Supreme Court gave two months to present its report has conveniently dragged on for almost two years, with no end in sight.

Slamming the Hindenburg Research reports as “supari” taken against India’s rising economic power, the BJP said the report was a sponsored, organised, orchestrated and manipulated act of economic anarchism and economic terrorism. The party also took a dig at Gandhi, asking when he will stop his propaganda against India, as his “international alliance partner,” Hindenburg, has shut its shop.

“What is your relationship with Hindenburg? Was it a Soros-sponsored report? Today, the Congress should clarify and apologise. The Congress and its ecosystem are anti-national,” asked BJP national spokesperson Shehzad Poonawalla.