BJP Spokesperson Shehzad Poonawalla on Thursday reacted to disbanding of Hindenburg Research. He referred to Hindenburg report as ‘supari’ taken against India’s rising economic power. The reaction of the BJP leader came after Hindenburg Research founder Nate Anderson on Wednesday, announced that the US Investment firm would be officially disbanded. The decision to wind down operations comes after the firm claims it has successfully completed the projects it was working on.

Speaking to ANI, Shehzad said, “This report was a sponsored, organised, orchestrated and manipulated act of economic anarchism and economic terrorism.”

#WATCH | On Hindenburg Research disbanding, BJP Spokesperson Shehzad Poonawalla says, "Hindenburg report was 'supari' taken against India's rising economic power. This report was a sponsored, organised, orchestrated and manipulated act of economic anarchism and economic… pic.twitter.com/5z6ap6dLoM

— ANI (@ANI) January 16, 2025

Renowned for its short-selling activities, Hindenburg gained notoriety in India for its negative reports on Indian billionaire Gautam Adani. Nate announced on X, “I’ve shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research. The plan has been to wind up after we finished the pipeline of ideas we were working on. And as of the last Ponzi cases we just completed and are sharing with regulators, that day is today.”

US Firm Hindenburg launched a campaign targeting the Adani Group in past few years. Its reports, released since 2023, resulted in significant financial repercussions for the Indian businessman. However, Adani and his companies have refuted the allegations made against them.

Addressing any speculation behind the decision to disband, Nate further clarified, “There is not one specific thing—no particular threat, no health issue, and no big personal issue.”

Also Read: Hindenburg Founder To Close US-Based Short Seller Behind Adani Selloff – Here’s Why