"pathological hatred against Narendra Modi ..." ::: BJP accuses Politics of Toolkits by Congress and allies on Hindenburg report

BJP leader and spokesman Ravi Shankar Prasad on Monday claimed that George Soros was behind the Hindenburg report to destabilise the Indian economy.

"Today we want to raise some issues. Whose investment is there in Hindenburg? Do you know this gentleman George Soros who regularly runs propaganda against India...He is the main investor there...In their pathological hatred against Narendra Modi, the Congress Party today has developed hatred against India itself."  

Short-selling firm Hindenburg Research has leveled serious accusations against Madhabi Buch, the current Chairperson of the Securities and Exchange Board of India (SEBI). The allegations challenge Buch's previous statements regarding her business interests.

According to our sources, Buch had earlier stated that two consulting firms she founded—one in India and another in Singapore—became inactive following her 2017 appointment to SEBI. She further claimed that her husband assumed control of these businesses in 2019.

However, Hindenburg's report paints a different picture. The firm alleges that Buch retains a 99% ownership stake in the Indian entity, Agora Advisory Limited. Contrary to previous assertions, this company is reportedly active and generating consulting revenue.  

The BJP's criticism comes in the wake of Congress leader Rahul Gandhi's remarks raising concerns about the impact of Hindenburg's latest report on the country's financial system and the role of the Securities and Exchange Board of India (Sebi). 

 Addressing a press conference, BJP leader Ravi Shankar Prasad said, "We expected that after being ousted from power for the third time, these people [Congress] would not use the toolkit. Hindenburg's report came on Saturday, there is uproar on Sunday, so the capital market is destabilised on Monday."

Prasad indicated that there was something fishy about the timing of the latest allegations, stating, "In July, Hindenburg received a [show cause] notice from Sebi. Instead of responding to this notice, Hindenburg has made a baseless attack. Sebi has responded. Sebi chairman has also responded."

Furthermore, Prasad alleged that American billionaire George Soros is the main investor in Hindenburg, implying a larger conspiracy. 

He also accused Rahul Gandhi of harbouring a "pathological hatred" towards Prime Minister Narendra Modi.

"In the politics of the Congress party, there is a toolkit gang and a chit gang. If chits are found in the exam, action is taken. But what should be done about the chits that the Congress party and its leaders get?...They want to crash the entire stock market," he alleged.

The BJP also rejected calls for a Joint Parliamentary Committee (JPC) inquiry into the Hindenburg report, labelling the demand as a “sham.”

Earlier in the day, BJP national spokesperson CR Kesavan took a dig at Rahul Gandhi's "umpire is compromised" remark, likening it to "shady and deceitful underarm bowling" aimed at discrediting the stock market and market watchdog.

On Sunday, Rahul Gandhi raised concerns about the integrity of India's stock market following the latest Hindenburg report. Gandhi questioned why Buch had not resigned in light of the "explosive" revelations.