In the wake of the Adani Group and Hindenburg report controversy, Indian cricketer Virender Sehwag has commented that there is a 'hitjob' on India's market. Sehwag took to his official Twitter handle to call into question several allegations on Indian markets, saying that foreigners aren't able to tolerate India's growth. He went on to claim that the "hitjob on India's market' looks like a well-planned conspiracy. "Goron se India ki tarakki bardaasht nahi hoti. The hitjob on India’s market looks like a well-planned conspiracy. Koshish kitni bhi kar lein but as always, Bharat aur majboot hi nikalkar ubhrega (Foreigners can't tolerate India's growth. The hitjob on India’s market looks like a well-planned conspiracy. No matter how hard you try, India will always emerge stronger)," Sehwag wrote.
Gautam Adani's group has called the allegations by Hindenburg a "calculated attack" on India, its institutions and growth story, saying the allegations are "nothing but a lie".In a 413-page response on January 29, days after the report came out, Adani group said the report was driven by "an ulterior motive" to "create a false market" to allow the US firm to make financial gains.Some supported the theory that the short seller, Nathan Anderson, who runs Hindenburg Research, published the report with a selfish motive to make money since a drop in Adani group shares would benefit him.Others, including the opposition parties in India, have demanded a thorough investigation into the allegations and the impact on the investments of Life Insurance Corporation (LIC), State Bank of India (SBI), and other public sector banks and financial institutions. The Reserve Bank of India (RBI) and the capital markets regulator Securities and Exchange Board of India (SEBI) have assured investors they are closely tracking the developments and will protect their interests. K Chandrashekar Rao, the chief minister of Telangana, had earlier called for a Joint Parliamentary Committee (JPC) to investigate the alleged fraud by the Adani Group. KCR claimed that the Centre is forcing Life Insurance Corporation (LIC) to produce a misleading declaration regarding its exposure in the Adani Group while speaking at a press conference in Nanded, a city in the Maharashtra state. He added that the Adani Group is the only supplier of coal at the Center, which is forcing states to import it. Bihar CM Nitish Kumar demanded an investigation for the alleged Adani scam. Meanwhile, Uday Kotak had said that he does not see any systemic risk to the Indian financial system, despite recent steep market drops in Adani Group stocks.
