Blitz Bureau
THE latest report by US-based short-seller Hindenburg Research taking a shot at SEBI chief has been rubbished by economists as well as financial experts as baseless, mala-fide and motivated.
Conjectures, speculations
Some of the country’s leading financial experts said that the report is based on conjectures and speculations and lacks solid proof and its main purpose is to ‘book profits’ at the expense of Indian stock markets.
KV Subramanian, a former Chief Economic Advisor of India, took to X and said that he vouched for the ‘unimpeachable integrity’ of SEBI chief Madhabi Puri Buch and that the Hindenburg report lacked ‘intellectual rigour’.
“I’ve personally known SEBI Chairperson Madhabi for about two decades. Given her unimpeachable integrity and her intellectual prowess, I’m sure she will shred to smithereens this Hindenberg’s hit job,” wrote Subramanian, who is currently Executive Director with IMF.
Kishore Subramanian, a leading financial expert, said that the report looks devoid of any evidence and banks on accusations and allegations to prove its point.
“The use of words like… ‘we think, maybe’ shows that the report is based on conjectures and speculations and not on solid evidence,” he said. “By releasing a report bereft of truth, Hindenburg has delivered yet another hit job. The claims are unsubstantiated and will remain untenable in the court of law,” he added.
He also said that the motive of a US-based short-seller is to create commotion and disturbance in Indian markets and benefit itself financially as it did in previous instances.
