Indian Bar Association calls for investigation into ‘international conspiracy’ behind Hindenburg report

iNDICA NEWS BUREAU-

The All India Bar Association (AIBA) on Wednesday, August 14, called for a thorough investigation into the alleged international conspiracy behind the recent Hindenburg report.

AIBA Chairman and Senior Counsel Adish C. Aggarwala urged the government to conduct a comprehensive investigation into the origins and implications of the report.

Aggarwala, former president of the Supreme Court Bar Association (SCBA), called for a comprehensive investigation to address concerns about the credibility of the Hindenburg report and its potential implications.

He claimed that the Hindenburg report was part of a deliberate action by India's enemies at a time when the country was experiencing economic growth and stability while its neighbouring countries were struggling with economic difficulties and social unrest.

Aggarwala said the Hindenburg report could be part of a strategy by hostile countries to weaken the Indian government and major Indian businesses.

The Hindenburg report was published with a malicious intent to harm the Indian economy and was designed to undermine confidence in the Indian financial system and harm the country's economic interests, he said.

The AIBA chairman added that he found no basis in Hindenburg's recent allegations against SEBI chairwoman Madhabi Puri Buch and her husband Dhaval Buch, as he dismissed the allegations as “substanceless”.

Aggarwala said Hindenburg Research lacks credibility as an organization, especially when its reports are viewed as potentially biased or unsubstantiated.

He also said that the Supreme Court had previously found the Hindenburg report to be baseless, meaning there was a lack of solid evidence to support the allegations.

On July 15, the Supreme Court dismissed a review petition of the January 3 verdict, which had rejected the setting up of an SIT (a team of experts) to investigate the Hindenburg affair.

It said that reports prepared by third-party organizations such as the Organized Crime and Corruption Reporting Project (OCCRP) and Hindenburg Research could not be considered “conclusive evidence.”