BJP Accuses Hindenburg, Congress of Economic Anarchy; Defends SEBI's Market Stability Efforts

In response to the recent Hindenburg Research report, BJP MP Ravi Shankar Prasad accused the Congress party and its allies of conspiring to create economic instability in India. He stated, "After being rebuffed by the people of India, the Congress party, its allies, and the toolkit gang have conspired together to usher in economic anarchy and instability in India." He highlighted the strategic timing of the report's release on Saturday, followed by an uproar on Sunday, aimed at destabilizing the capital market on Monday. Emphasizing India's status as a safe, stable, and promising market, Prasad reiterated SEBI's legal responsibility to ensure market stability. He pointed out that SEBI had issued a notice to Hindenburg after completing its inquiry under the Supreme Court's supervision in July. However, instead of responding to the notice, Hindenburg launched what Prasad described as a baseless attack. Prasad criticized Rahul Gandhi and Congress for demanding a Joint Parliamentary Committee (JPC) investigation without participating in the legal process. He affirmed that SEBI and its chairperson had provided a proper reply to the allegations, emphasising the importance of following due legal procedures to address such issues.