Hindenburg Shutdown: US firm that accused Adani group of ‘irregularities’ shuts operations

US-based Investment research firm - Hindenburg Research, a US-based short seller, has announced its decision to shut down operations. The organisation shot to limelight after it made allegations of financial irregularities on some big - name businesses including the Adani group. Founder Nate Anderson stated, "I have decided to disband Hindenburg Research," citing no specific reason. Experts question the timing of the decision, which comes days before President-elect Donald Trump’s inauguration. Senior advocate, BJP MP Mahesh Jethmalani accused Hindenburg of "economic terrorism" and suggested ties to financier George Soros. Jethmalani alleged that Hindenburg’s actions were part of an attempt to destabilize India`s economy by targeting Adani`s shares. Former Chief Information Commissioner YK Sinha suggested there was an agenda behind Hindenburg`s reports. Advocate PR Ramesh linked the shutdown to SEBI investigations and show-cause notices, emphasizing a conspiracy to destabilise Indian markets. In January 2023, Hindenburg published a report accusing the Adani Group of financial irregularities, leading to a sharp drop in its stock prices. The Adani Group has consistently denied Hindenburg’s allegations, calling them baseless and politically motivated. Gautam Adani, at an AGM, stated that the group faced "baseless accusations" but proved its resilience against the attack on its integrity and reputation. BJP slammed Congress and alleged that Hindenburg reports were "supari" taken against India`s rising economic power. However, Congress said that Hindenburg closure is not a clean chit for Modi, Adani.