Gautam Adani, once the third-richest man in the world, shed $58 billion of his wealth less than a week after an American financial research firm published a report accusing his India-based energy conglomerate of pulling the “largest con in corporate history” and shorted the Adani Group’s stocks. 

Since then, Adani’s close ties with Indian Prime Minister Narendra Modi have come under scrutiny, putting Modi in a difficult position. Some of the sharpest criticism has come from hedge fund tycoon and billionaire investor George Soros, who alleged that the Adani debacle would weaken Modi’s grasp on India, paving the way for a “democratic revival.” 

Now, a senior government minister has replied to push back on the criticism—and on Soros, as a foreign investor, in particular.

Foreign Minister Subrahmanyam Jaishankar slammed Soros’s remarks at an energy conference in Sydney on Saturday, dismissing his views on the country and the effects of Modi’s curious ties with Adani.

“He is old, rich, opinionated, and dangerous,” Jaishankar said of Soros. “What happens is, when such people and such views and such organizations—they actually invest resources in shaping narratives.”

Soros’s comments about Modi and Adani came at a security conference in Munich last week, where he accused Modi of not being a “democrat” even while being the leader of a democratic country like India. He also talked about how Modi has been tight-lipped about Adani’s meltdown, which could undermine his power at the government level and ultimately lead to “much-needed institutional reform.”

“Modi and business tycoon Adani are close allies; their fate is intertwined. Adani Enterprises tried to raise funds in the stock market, but he failed,” Soros said.

When asked about Soros’s prediction that Modi’s role would weaken in India, Jaishankar said that people like Soros believed that their definition and views are above everything else, reflecting a typical “Euro-Atlantic view” where Western countries are the dominant powers.

“People like him think an election is good if the person we want to see wins. If the election throws out a different outcome, we actually will say it’s a flawed democracy,” Jaishankar said.

Representatives from India’s Ministry of External Affairs did not immediately return Fortune’s request for comment. George Soros could not be immediately reached for comment.