NEW DELHI: Hindenburg Research’s sudden decision to cease its operations has drawn sharp criticism from senior advocate and Rajya Sabha member Mahesh Jethmalani along with other prominent legal experts.
The critics have labelled it a “run for cover” amid allegations of links to financier George Soros. They further accused the US based firm of economic terrorism alleging that the move is part of a larger conspiracy aimed at destabilising global markets, including India’s economy.
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Speaking on the matter, Jethmalani suggested that the disbandment might have been stemmed from pressure by investigating authorities in the United States.
“Either he has already been sounded out by investigating authorities in the US or he fears that he will be investigated for his role in the attempt to shake India’s economy by bare hammering of Adani shares.”
Jethmalani further alleged that Hindenburg Research was being used by what he described as the “democratic deep-state controlled by George Soros.”
“When you try to destabilise an economy, it is economic terrorism. George Soros seems to be behind this attempted economic devastation of India, signalling that economies can be controlled to exert influence,” the advocate noted.
Advocate PR Ramesh, a prominent lawyer and expert in SEBI matters, highlighted the regulatory implications of the issue.
“The show-cause notice issued by SEBI and the ongoing investigations could have played a role in the shutdown of Hindenburg Research. It is crucial for authorities to thoroughly investigate whether there was any conspiracy to deliberately destabilise Indian markets,” he stated.
Ramesh lauded the intervention of the Supreme Court for its pivotal role in maintaining market stability.
“Fortunately, the Indian Supreme Court took the correct stand, which ultimately helped protect the stability of Indian markets from further damage,” he added.
Prominent criminal lawyer Ashish Dixit also expressed concerns over the broader implications of Hindenburg’s actions. Calling their behaviour “intriguing,” Dixit emphasised the need for a detailed investigation by domestic and international law enforcement agencies.
Similar to Jethmalani, Dixit also believed that Hindenburg’s actions appear to be part of a coordinated effort to undermine the stability of the Indian market and economy. He emphasised the need for authorities to investigate the involvement of individuals and organisations behind such activities, adding that international cooperation is crucial to fully uncover the extent of the manipulation.
He further stressed the need for international cooperation in the investigation, urging law enforcement agencies to work alongside global crime investigation bodies to scrutinise the matter thoroughly.
He asserted, in case these actions are proven to be coordinated or planned targeted towards destabilising India’s economy and stock market, prosecution must be pursued to ensure accountability and protect the country’s financial integrity.
