Unlike Jan 2023, when the report on Adani group severely eroded the conglomerate’s market cap, on Monday, the group’s shares lost between 0.7% (Adani Power) and 4.1% (Adani Wilmar).
But three days after it was released, Congress used the report to attack the govt and reiterated its demand for a JPC probe and threatened to launch a nationwide protest, while seeking Buch’s resignation.
BJP hit out at the opposition for endorsing the short-seller’s attack and alleged that it was part of a plan to destabilise India backed by controversial currency speculator George Soros.
“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. Hindenburg report is released on Saturday, there is uproar on Sunday so the capital market is destabilised on Monday. India is globally seen as a safe, stable and promising market,” former BJP lawmaker Ravi Shankar Prasad said at a press conference.
Union minister Jyotiraditya Scindia and Giriraj Singh too joined in. “This is a gang to defame the country, Rahul (Gandhi) and Jairam Ramesh. Hindenburg defames us. We will not tolerate this insult to the nation. These people are enemies of the country. Now, strictest action will be taken against Hindenburg,” Singh said.
From the other side, Congress general secretary Jairam Ramesh claimed that “no institution was sacrosanct in Amrit Kaal” and asked if the Sebi chairperson had recused herself from the Adani probe.
“Do these conflicts of interest explain the prolonged investigation, a delay that has benefited both Adani and the prime minister while damaging Sebi’s reputation? How can a match proceed if the umpire herself is compromised?” Ramesh said, while demanding that the Supreme Court should transfer the investigation to CBI or an SIT.
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