BJP MP Ravi Shankar Prasad on Monday launched a scathing attack on the Congress party, accusing it of attempting to create economic instability in India by leveraging the recent allegations made by Hindenburg Research against the Adani Group. The former law minister claimed that the Congress and its allies are conspiring to destabilize the Indian stock market, following the short-seller’s latest report.
Prasad alleged that the Congress party is actively involved in “creating economic anarchy” and “spreading hatred against India,” in what he described as a coordinated effort with the so-called “toolkit gang.” He argued that after being repeatedly rejected by the Indian electorate, the Congress and its allies are now resorting to tactics that threaten the country’s financial stability.
“The Hindenburg report was released on Saturday, creating uproar on Sunday, leading to a destabilized capital market on Monday,” Prasad remarked. He asserted that India remains a “safe, stable, and promising” market for investors and that the Congress is deliberately trying to undermine this confidence.
Prasad further emphasized that it is the Securities and Exchange Board of India’s (SEBI) legal responsibility to ensure the smooth functioning of the market. He highlighted that SEBI had previously issued a notice against Hindenburg after completing a thorough inquiry under the supervision of the Supreme Court in July. He criticized Hindenburg’s latest report as a “baseless attack” made without any substantial defense.
The BJP leader also took aim at Congress leader Rahul Gandhi, labeling him a “Soros agent” and accusing him of backing the Hindenburg report as part of a broader conspiracy to halt investments in India. Prasad questioned the timing of the report’s release, suggesting it was strategically published on a Saturday to spark outrage and market panic by Monday.
Prasad’s remarks come in response to Gandhi’s recent criticism of SEBI, where he questioned the integrity of its chairperson, Madhabi Puri Buch. Gandhi claimed that the allegations against Buch and her husband, who were said to have stakes in offshore funds linked to the Adani scandal, had “gravely compromised” the integrity of SEBI. In a post on X (formerly Twitter), Gandhi urged the Supreme Court to look into the matter suo motu and demanded accountability from the government, questioning why Buch had not yet resigned.
