New Delhi | Union Minister Giriraj Singh on Monday said Hindenburg Research has defamed the country in alliance with Congress and the "strictest action" will be taken against the US short-seller.

Hindenburg on Saturday launched a broadside against markets regulator Sebi chairperson Madhabi Buch, alleging she and her husband Dhaval had stakes in obscure offshore funds used in the alleged Adani money siphoning scandal.

The duo has denied the allegations as baseless and asserted their finances are an open book.

The Adani Group termed the latest allegations malicious and based on manipulation of select public information. The company said it has no commercial relationship with the Sebi chairperson or her husband.

Talking to reporters on the sidelines of an event here, Singh, the Union Minister for Textiles, also came down heavily on Congress leaders Rahul Gandhi and Jairam Ramesh.

"This is a gang to defame the country, Rahul (Gandhi) and Jairam Ramesh. Hindenburg defames us. We will not tolerate this insult to the nation. These people are enemies of the country. Now strictest action will be taken against Hindenburg," Singh said.

Calling Gandhi 'Bade Baap Ka Beta', the minister said: "Rahul does not know anything about the state and direction of the nation", and cautioned that the countrymen should "beware" of such people who try to create confusion and fear.

Asked about demands by Congress for a JPC probe in the Hindenburg matter, Singh said: "This Congress is behind Hindenburg. Hindenburg is a tool kit to ruin India and people like Rahul Gandhi are involved in it".

Leader of Opposition in the Lok Sabha, Rahul Gandhi, on Sunday demanded a Joint Parliamentary Committee (JPC) inquiry into the charges against Securities and Exchange Board of India (Sebi ) chief Madhabi Buch in the latest Hindenburg report.

The Congress leader issued a stark warning regarding the integrity of India's stock market following the latest allegations made by Hindenburg.

"Rahul Gandhi even defames the nation when he goes abroad. When at home, he (Rahul) creates confusion and fear among the countrymen... The countrymen should beware of such people. Creating confusion can be an act committed by anti-nationals. It is not appropriate, no patriot can do such a thing," Singh said.

He was speaking on the sidelines of the 'Handloom Expo' here.