All India Bar Association seeks probe into ‘int'l conspiracy’ behind Hindenburg report

New Delhi, Aug 14 (IANS) The All India Bar Association (AIBA) on Wednesday called for a thorough investigation into the alleged international conspiracy behind the latest Hindenburg report. 

AIBA Chairman and senior advocate Adish C. Aggarwala urged the government to conduct a comprehensive probe into the report's origins and implications.

Aggarwala, the former President of the Supreme Court Bar Association (SCBA), called for a comprehensive investigation to address the concerns regarding the Hindenburg report's credibility and its potential impact. 

He claimed the Hindenburg report is part of an intentional effort orchestrated by India's enemies at a time when the country is experiencing economic growth and stability, in contrast to its neighbouring countries, which are grappling with economic difficulties and civil unrest. 

Aggarwala suggested that the Hindenburg report could be part of a strategy by hostile countries aimed at undermining the Union government and major business enterprises in India.

The Hindenburg report was released with malicious intent to damage the Indian economy and it was crafted to undermine the confidence in India's financial system and harm its economic interests, he said. 

The AIBA Chairman added that he sees no merit in Hindenburg’s latest allegations against SEBI Chairperson Madhabi Puri Buch and her husband Dhaval Buch, as he dismissed the claims as "lacking substance".

Aggarwala said that Hindenburg Research as an entity lacks credibility, particularly when its reports are seen as potentially biased or lacking substantiation. 

He also said that the Supreme Court had previously found no merit in the Hindenburg report, implying that the allegations lacked substantive evidence.

On July 15, the top court dismissed a review petition filed against its January 3 verdict refusing to form an SIT or group of experts to conduct an investigation into the Hindenburg controversy.

It had said that reports prepared by third-party organisations such as the Organized Crime and Corruption Reporting Project (OCCRP) and Hindenburg Research cannot be regarded as "conclusive proof".