Jai Anant Dehadrai, the lawyer who last year accused a Trinamool MP of accepting bribes to ‘target’ the Adani Group, reacted Thursday to news Hindenburg Research – the United States-based short seller that alleged, with no apparent evidence, financial impropriety by the business giant – will be disbanded.
In a lengthy post on X this morning, Mr Dehadrai also linked Hindenburg shutting down to the return of Donald Trump as the US President on January 20; earlier an influential member of Mr Trump’s party had called out a decision by the outgoing government, led by Joe Biden, to probe certain Adani firms.
Mr Dehadrai also hit out at the Trinamool leader – labelling the person a “crooked puppet who tried spinning a conspiracy-theory (around Hindenburg’s allegations), particularly against the Prime Minister (Narendra Modi)”, and demanded the MP be “subjected to rigorous custodial inquiry”.
“With Hindenburg shutting down mere days before Trump takes office, the message couldn’t be clearer: the attacks on Prime Minister Modi, the Adani Group, and India’s stock market regulator (the Securities and Exchange Board of India) were not just about profit – they were part of a calculated and synchronised effort to sow instability in India,” Mr Dehadrai alleged.
“But here’s where it gets truly interesting. With (Hindenburg founder) Nate Anderson now fully exposed and in retreat – who were the crooked puppets in India who tried spinning a conspiracy-theory around the above mentioned entities?”
With Hindenburg shutting down mere days before Trump takes office, the message couldn’t be clearer: the attacks on Prime Minister Modi @narendramodi, the Adani Group @gautam_adani, and India’s stock market regulator @SEBI_India were not just about profit—they were part of a…
— Jai Anant Dehadrai (@jai_a_dehadrai) January 16, 2025
“Will the former MP who orchestrated many of these attacks in India, particularly against the Prime Minister, be fully investigated and subjected to a rigorous custodial inquiry and global financial audit?” he continued, claiming, “The money-trail from this individual will lead to some of the most notorious criminal entities to have ever existed – worldwide.”
Earlier today, Mr Anderson, in a note on Hindenburg’s website, said the company would be shut down after completion of pending projects. The announcement comes days before Mr Trump is to take office. However, Mr Anderson claimed no threat in the decision to close his firm.
READ | US Short Seller Hindenburg, Which Targeted Adani Group, To Shut
In 2022, Hindenburg Research made multiple allegations of financial impropriety by the Adani Group. The charges were firmly and completely denied by the company, which trashed them as “nothing but lies” and called them “calculated attacks on India and the Indian economy”.
READ | Adani Group Refutes Hindenburg Allegations, Calls It “Attack On India”
Later the Supreme Court gave both the Adani Group and SEBI a clean chit.
READ | Supreme Court Backs Clean Chit To Adani Group In Hindenburg Row
The allegations were recycled in August last year.
They were once again firmly dismissed; the business behemoth’s chairman, Gautam Adani, slammed the “dual assault targeting our financial stability and pulling us into a political storm”. “It was a calculated move,” he said.
READ | Adani Group, SEBI Chief, Industry Leaders Slam “Discredited” Hindenburg
Hindenburg also targeted SEBI chief Madhavi Puri Buch and her husband, both of whom called the allegations an “attempt at character assassination”. This was after the markets’ regulator flagged what it said were violations by Hindenburg and its sole owner, Mr Anderson.
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