12 august 2024 : On Monday, the Bharatiya Janata Party (BJP) asserted that George Soros, a Hungarian-born investor residing in the United States, is the primary financier behind Hindenburg Research.
“Today, we wish to address certain concerns. Who is funding Hindenburg? Are you familiar with George Soros, who consistently propagates negative narratives about India? He is the principal investor involved… The Congress Party, in its deep-seated animosity towards Narendra Modi, has fostered a broader disdain for India itself,” stated BJP MP Ravi Shankar Prasad, as reported by ANI.
“Should India’s stock market experience turmoil, will it not adversely affect small investors? The Congress party engages in two types of politics: toolkit politics and chit politics. When chits are discovered during examinations, appropriate measures are taken. However, what actions should be taken regarding the chits that the Congress party and its leaders possess? Their objective appears to be to destabilize the entire stock market, hinder capital investments from small investors, and prevent any economic growth in India,” he further elaborated.
Soros is known for his critical stance against Prime Minister Narendra Modi and is the founder of the Open Society Foundation. The BJP has accused him of attempting to interfere in “India’s democratic process.”
On Saturday, Hindenburg Research, based in the United States, released a provocative report alleging that Madhabi Puri Buch, chairperson of the Securities and Exchange Board of India (SEBI), and her husband, Dhaval Buch, held interests in obscure offshore funds implicated in the alleged Adani money siphoning scandal.
The SEBI chairperson and her spouse described the allegations as “malicious and motivated” in a statement.
In January of the previous year, Hindenburg published a report accusing the Adani Group of financial misconduct, which resulted in a substantial decline in the group’s stock values. Adani dismissed these allegations as unfounded.
Rahul Gandhi, the leader of the opposition in the Lok Sabha, expressed concerns regarding the significant risks facing the Indian stock market following questions raised about the “integrity” of the Securities and Exchange Board.