“Goron Se India Ki Tarakki…”

Virender Sehwag says India’s capital market turmoil looks like a ‘successful business’

New Delhi:

Former cricketer Virender Sehwag described India’s capital market turmoil as a “successful undertaking” by the West in a widely shared tweet.

Shares of Adani group companies have plummeted – some have begun to rise slightly now – following a report by a US-based short seller alleging corporate misconduct, which Adani denied.

Mr. Sehwag, who did not name the short-selling firm, Hindenburg Research, accused the West of failing to handle India’s rise and the events that led to turmoil in India’s capital markets “seemed to be the a well-planned conspiracy.”

“goron se India ki tarakki bardaasht nahi hoti (whites could not stand the advance of India). Successful work in the Indian market looks like a well-planned conspiracy. Koshish kitni bhi kar lein but as always, Bharat aur majboot hi nikalkar ubhrega (no matter how they try, India will be stronger as always),” tweeted the former cricketer, who retired in 2015 on his 37th birthday.

Goron se India ki tarakki bardaasht nahi hoti. Success in the Indian market looks like a well-planned conspiracy. Koshish kitni bhi kar lein but as always, bharat aur majboot hi nikalkar ubhrega.

– Virender Sehwag (@virendersehwag) February 6, 2023

Mr. Sehwag often shares his views on current issues in his social media posts. He praised the monetization process or the removal of the Rs 500 and Rs 1,000 bills in November 2016 as a “good move”.

Billionaire Gautam Adani’s team called Hindenburg’s allegations ““calculated attack” on Indiaits institution and growth story, saying the allegations were “just a lie”.

In a 413-page response on January 29, days after the report was published, the Adani team said the report was motivated by “an ulterior motive” to “create a fake market” to allow US companies to earn financial profits.

Some support the theory that the short seller, Nathan Anderson, who runs Hindenburg Research, published the report with a selfish motive to make money because a fall in Adani corporation stock would benefit him.

Others, including opposition parties in India, have demanded a thorough investigation into the allegations and the impact on investments by Life Insurance Corporation (LIC), Bank State Bank of India (SBI), as well as other public sector banks and financial institutions.

The Reserve Bank of India (RBI) and capital markets regulator the Securities and Exchange Commission of India (SEBI) have assured investors that they are closely monitoring developments and will ensure protect their interests.

Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, a Company of the Adani Group.