, Columnist
Hindenburg 2.0 Needs a Different Response From India
Hoping that the short seller’s allegations against the chief of the market watchdog will go away is a dangerous mistake.
A new inquiry is needed.
Photographer: NurPhoto/Getty Images
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Hindenburg Research’s allegations of potential conflict in the Adani inquiry against the chief of India’s market watchdog — denied by her and the regulator — refuse to go away for a simple reason. They are serious enough to merit a response by an independent authority.
The Supreme Court in New Delhi should consider bringing back the committee it had set up last year after the New York-based short seller’s original report. It’s the most obvious solution to a credibility crisis whose corrosive effects are being masked by runaway stock valuations.