Lagatar24 Desk
New Delhi: Prominent legal expert and senior advocate Harish Salve has raised serious concerns about the influence of organizations like US short-seller Hindenburg Research on India’s institutions and reputation. In a strong statement, Salve warned that if such entities are not held in check, they could eventually undermine the country’s judiciary.
Salve, a former Solicitor General of India, criticized the attention given to Hindenburg Research, which has recently targeted SEBI (Securities and Exchange Board of India) chief Madhabi Puri Buch and the Adani Group. Despite being discredited in its own country, Hindenburg’s allegations have sparked significant debate in India, prompting Salve to question why it is being treated as a credible source. “Why treat Hindenburg as an oracle or gospel?” he asked during an exclusive interview with NDTV.
The legal luminary did not mince words, stating that in any other country, the Hindenburg report would have been dismissed outright. “Hindenburg is trying to browbeat SEBI,” he said, emphasizing the need for a defamation tribunal in India to protect against such baseless accusations. He warned that if unchecked, such organizations might one day even target the judiciary.
Salve also expressed dismay over the political response to Hindenburg’s claims, labeling it “shameful” that some political leaders are taking these allegations seriously. He urged for greater respect for the reputations of Indian institutions and individuals, contending that Hindenburg is essentially “mocking India” with its unfounded claims.
The Adani Group, which has been at the center of Hindenburg’s allegations, has strongly refuted the accusations, describing them as “malicious, mischievous, and manipulative selections of publicly available information” aimed at achieving “predetermined conclusions for personal profiteering with wanton disregard for facts and the law.”
Despite the uproar, investors have largely dismissed the latest Hindenburg report, with benchmark indices remaining stable on Monday, contrary to predictions of an impending market crash by some, including Leader of Opposition Rahul Gandhi.
Salve’s remarks underscore the growing concern among legal and industry experts about the impact of foreign entities on India’s economic and judicial systems, and the need to safeguard the nation’s reputation from such external influences.
