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Veteran lawyer Mahesh Jethmalani on Sunday slammed short-seller Hindenburg Research's latest claims of “something big,” calling them just “pathetic damp squibs.”
Jethmalani said the announcement itself, which preceded the so-called major disclosure, revealed the motive: to destabilize the Indian stock market.
“Pre-publicity is not befitting of a well-known 'research analyst'. As for the 'big' stuff, there is nothing new about the #Adani group. The target now is the regulator – #SEBI chairman #MadhabiPuriBuch, the lawyer posted on the X social media platform.
The market regulator has notified Hindenburg of its allegations.
“Rather than respond to these questions, Hindenburg chose to attack its chairman on the basis of a conflict of interest (more so after Ms. Bucher issued the detailed statement that the attack was based on; simply The reason is that it appears to be rubbish on the surface),” Jethmalani stressed.
According to him, the photo shows a US-based “profiteer who has made millions at the expense of Indian retail investors” and is now dodging questions legitimately raised by Indian regulators and “blatantly Defaming Indian regulators without answering their questions”.
Jetmalani further argued that this reeks of the colonial arrogance of the past and the disdain for the economic sovereignty of emerging countries by a wealthy country relying on safe havens.
“As expected, much of the left-leaning media – slaves to foreign masters and those who want to become rulers with their help – is calling for Ms. Buch's head to be executed,” the senior lawyer said.
He noted that it is time for the government to pay serious attention to these “anti-national elements who have no other purpose than to disrupt India's social fabric, distort its polity and now destroy its economy”.
Earlier in the day, SEBI Chairman Madhabi Puri Buch and her husband Dhaval also refuted the report and called it “character assassination” in response to SEBI targeting Hinddon. Fort's actions.
(This article has not been edited by News18 staff and is published by IANS, the associated news agency)
