Opposition part of conspiracy to cause financial instability in India: BJP

New Delhi: The BJP, in response to the Hindenburg expose on SEBI, sought to deflect the blame on to the Congress and alleged that the Opposition party was helping the foreign firm create economic chaos in India. 

BJP MP Sudhanshu Trivedi said that foreign firms have been releasing such exposes exactly before a Parliament session. He alleged that Rahul Gandhi’s foreign visits are linked to it.  

Trivedi said that the short-selling firm, which had levelled accusations against Adani last year, is currently under scrutiny by Indian investigative agencies.

“The fact that the Opposition is echoing these allegations, suggests a clear conspiracy which is aimed at destabilising our financial sector,” he said. 

“For the past few years, whenever the Parliament session commences, a foreign report gets released. BBC documentary was released just before the Parliament session. The Hindenburg report came in January (against the Adani Group) just before the Parliament session. All these sequences happen during the Parliament session," Trivedi added. 

He also sought to link Rahul Gandhi’s foreign visits to the expose. “He expects all kinds of support from foreign countries. He goes abroad and wants their intervention. The Opposition parties want to create economic chaos in India. Be it government companies or private firms — they attacked LIC and HAL. Now they are attacking SEBI,” he said. 

Senior BJP leader Rajeev Chandrasekhar alleged that the Hindenburg expose is a “obvious partnership” between Congress and the short-seller. “… has an ominous motive and goal. To destabilize, and discredit one of the world's strongest financial systems and create chaos in the world's fastest-growing economy ie India. On this let there be no doubt,” he posted on X. 

He added that the expose is a “classic Congress style innuendo” which was aimed at discrediting the market regulator leading to financial losses. 

BJP’s Tamil Nadu chief K Annamalai said that the expose should be investigated.

“This should be investigated, but we know that Hindenburg has raised similar allegations against Adani, Ambani in the past and nothing was proven. Hindenburg is targeting Adani as it is easier to take a short position in the group but not in stable companies such as Hindustan Unilever. Even if they are lying now, a responsible government should investigate,” he added.