The Bharatiya Janata Party on Thursday took a dig at the Congress party, linking its reliance on Hindenburg Research to the firm’s recent decision to shutdown. The party further criticised the Congress party for frequently citing Hindenburg’s findings to disrupt parliamentary proceedings.
BJP IT cell head Amit Malviya in a post on X said, “Hindenburg Research’s decision to shut down comes as no surprise, especially when it coincides with the Trump administration’s transition into office.”
“The Congress party frequently held press conferences, basing their actions on the findings of this dubious George Soros-funded organisation,” Malviya added.
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He accused Hindenburg and its sponsors of targeting India’s retail investor market, aligning with what he described as the Congress party’s “sinister agenda.”
The closure of Hindenburg Research, a US-based short-selling firm, was announced by its founder Nate Anderson on Thursday. Anderson stated that the decision was a personal one, unrelated to external pressures, health concerns, or major issues. “As I’ve shared with family, friends, and our team since late last year, I have made the decision to disband Hindenburg Research,” Anderson said in a statement.
He reflected on the challenges faced during his journey, including financial hardships and lawsuits. “I had no money when I started—and after catching three lawsuits immediately out of the gate, I quickly had less than no money,” he noted. Despite the obstacles, Anderson expressed gratitude to his team, supporters, and readers, announcing plans to open-source Hindenburg’s investigative techniques. “Over the next six months, I will release a series of materials and videos to share every aspect of our model and how we conduct investigations,” he explained.
Hindenburg Research gained global attention for its controversial reports accusing major corporations of fraud and malpractice. In January 2023, it published a report alleging financial irregularities within the Adani Group, leading to a significant decline in the conglomerate’s market valuation.
The Adani Group vehemently denied the allegations, with Chairman Gautam Adani later addressing them at the company’s Annual General Meeting. “We were faced with baseless accusations made by a foreign short seller that questioned our decades of hard work,” Adani said. He added, “In the face of an unprecedented attack on our integrity and reputation, we fought back and proved that no challenge could weaken the foundations on which our Group has been established.”
