Hindenburg report highlights: BJP claims Soros behind claims against SEBI

Hindenburg report LIVE updates: US short-seller Hindenburg Research has intensified its attack on SEBI chairperson Madhabi Puri Buch, demanding that she disclose the clients of a consulting firm in which she retained a stake while in office.

Hindenburg report LIVE updates: BJP spokesperson Shehzad Poonawalla on Monday launched a fierce attack on Leader of Opposition Rahul Gandhi, accusing him of using the Hindenburg report to further an agenda of creating panic and instability, with the aim of replicating a Bangladesh-type situation in India.

Hindenburg report LIVE updates: After US-based short seller Hindenburg research leveled accusations against SEBI chairperson Madhabi Buch, Shiv Sena leader Sanjay Nirupam on Monday said that this is part of a “conspiracy” to undermine the Indian stock market with the Congress party allegedly supporting the effort.

Hindenburg report LIVE updates: BJP leader Gourav Vallabh accused Congress and Hindenburg of wanting the Indian market to crash, saying despite their efforts, the market only dropped by 0.7 percent due to the strong fundamentals of the Indian market, companies, and investors. Vallabh criticised Congress and Rahul Gandhi for opposing the growing Indian economy in their bid to oppose Prime Minister Modi.

Hindenburg report LIVE updates: CPI(M) leader Brinda Karat has demanded the immediate resignation of the SEBI Chairperson, pointing to the Hindenburg report as proof of a “massive scam.”

Hindenburg report LIVE updates: Former bureaucrat EAS Sarma has written to Union finance minister Nirmala Sitharaman to initiate a judicial probe into allegations that a conflict of interest is preventing SEBI chairperson Madhabi Puri Buch from investigating charges against the Adani Group.

Hindenburg report LIVE updates: Intensifying its criticism of the Narendra Modi government over Hindenburg research’s allegations against SEBI chairperson Madhabi Puri Buch, the Congress threatened on Monday to launch a nationwide protest if its demand for a Joint Parliamentary Committee (JPC) probe is not met.

Hindenburg report LIVE updates: In response to the Hindenburg report’s allegations against SEBI chairperson Madhabi Buch, Congress leader Pawan Khera demanded a detailed response from the Securities and Exchange Board of India (SEBI), Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman on Monday.

Hindenburg report LIVE updates: The finance ministry on Monday said that it has nothing further to add to the statements made by the Securities and Exchange Board of India and its chairperson, Madhabi Puri Buch, regarding Hindenburg's latest report.

Hindenburg report LIVE updates: Despite a day of fluctuations, the stock market ended flat on Monday. The BSE Sensex fell by 56.98 points, closing at 79,648.92, while the NSE Nifty dropped 20.50 points to finish at 24,347.00. Of the Nifty companies, 19 saw gains and 30 experienced declines, even as Adani stocks rebounded from an initial dip.

Hindenburg report LIVE updates: Indian REITs Association on Monday said that claims made by the US-based short seller Hindenburg Research suggesting that the REIT framework made by markets regulator Sebi serves the interests of a select few are "baseless and misleading".

Hindenburg report LIVE updates: NCP (SP) working president Supriya Sule on Monday said there should be a discussion in Parliament on the Hindenburg Research's allegations against SEBI chairperson Madhabi Buch.

Hindenburg report LIVE updates: Former Jammu and Kashmir chief minister Farooq Abdullah on Monday said that people's money is invested in the stock market and Hindenburg has reported from America that it is likely to fall. He said the chairman of SEBI, his family and Adani are involved and there is a risk that their investments will be lost. The Supreme Court should take suo motu cognizance of this matter and and the government should address it.

Hindenburg report LIVE updates: Adani Group companies lost up to $19 billion in market value on Monday but recovered much of the losses after Hindenburg Research accused India's market regulator chief of ties to offshore funds linked to Adani, Reuters reported.

Hindenburg report LIVE updates: After the US-based short seller Hindenburg released its report and made allegations against SEBI Chairperson Madhabi Buch, AICC General Secretary and MP KC Venugopal said on Monday that the credibility of the Securities and Exchange Board of India (SEBI) has been undermined, calling for a Joint Parliamentary Committee (JPC) probe into the matter.

Hindenburg report LIVE updates: SEBI chief Madhabi Buch says, her fund did not invest in Adani group securities. She also states that they pulled out of the fund in 2018 and had previously invested as private citizens of Singapore.

Hindenburg report LIVE updates: BJP leader Ravi Shankar Prasad in a press conference claimed that George Soros was behind the Hindenburg report to destabilise the Indian economy.

He said, "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."

Hindenburg report LIVE updates: The findings of the Hindenburg report, which allege that the SEBI chief has links to offshore firms involved with the Adani group, have caused a political storm.

The Congress has asked for a Joint Parliamentary Committee while the BJP has stated that supporting Hindenburg is a sign of trying to demean Indian markets.

Hindenburg report LIVE updates: Union minister Giriraj Singh commented on the Hindenburg report on SEBI, saying, “ Hindenburg defames us. We won't tolerate country's defamation. They are enemies of the nation. Strictest action will be taken against Hindenburg.”

Hindenburg report LIVE updates: Investors have lost around ₹53,000 crore as the combined market capitalization of 10 Adani stocks fell to ₹16.7 lakh crore on Monday morning.

The report by Hindenburg research claims that the chief of SEBI - India's market regulation body - had investments linked to offshore firms allegedly operated by the Adani group for stock price manipulation and financial fraud.

Hindenburg report LIVE updates: After allegations were made against SEBI chief Madhabi Buch and the Adani group on Saturday night, Sensex gained 200 points or 0.24 per cent to reach 79,900.98 while Nifty was up 48.40 points or 0.20 per cent at 24,415.90.

Hindenburg report LIVE updates: The SEBI stated that the chairperson had made relevant disclosures of her holdings and that she would often recuse herself from matters involving a conflict of interest.

Hindenburg report LIVE updates: BJP leaders have said that the Hindenburg report is a 'Congress plot' to bring down Indian markets, pointing to the party's early response to the report and demand for a Joint Parliamentary Committee immediately.

Hindenburg report LIVE updates: SEBI has urged investors to remain calm and conduct thorough research before reacting to the Hindenburg report.

It asked investors to remember that Hindenburg may have short positions in play in the market and to keep calm.

Hindenburg report LIVE updates: Hindenburg research revealed that the SEBI Chief Madhabi Buch's Indian consulting firm, still 99 per cent owned by her, has generated INR 23.985 million (U.S. ~$312,000) in revenue (i.e. consulting) during the financial years (‘22, ‘23, and ‘24), while she was serving as Chairperson, per its financial statements