The accounts of three foreign funds of Adani Group have been frozen? Congress sought response from the central government


Posted on 15th Jun 2021 06:20 pm by rohit kumar

The Congress on Tuesday asked the central government to freeze the accounts of three foreign investor funds holding a major stake in Adani group companies and break its silence on National Securities Depository Ltd (NSDL) for coming out with the truth. Congress spokesperson Gaurav Vallabh demanded that the government also make public the beneficiaries of the Foreign Investor Fund, who have invested more than 95 percent of their funds in four Adani group companies, which have made huge profits in the last year.

 

This comes a day after shares of Adani group companies fell up to 25 percent amid reports of NSDL freezing the accounts of these three funds. The Adani Group, however, said the accounts were not frozen and that any reports to the contrary were "clearly false and misleading".

 

Did you know?Explore Trending and Topic pages for more stories like this.

According to news reports, Vallabh said, NSDL, which is the central securities depository under the Finance Ministry, has frozen the accounts of three foreign investor funds of the Adani Group: Albula Investment Fund, Cresta Fund, and APMS Investment Fund. He said these three funds, which have the same registered address in Port Louis, Mauritius and do not have a website of their own, hold shares worth over Rs 43,500 crore in four Adani group companies.

 

He said that more than 95 percent of his net worth comes from his investments in Adani group companies. "NSDL and the finance ministry need to break their silence and come out with the truth," Vallabh told reporters. "The Congress party demands that SEBI and NSDL know the nature of these funds, the ultimate beneficial ownership of these funds, the findings of their investigation (if any), the securities held by these funds, and why their accounts were frozen. Let's make full disclosure about it."

 

The Congress spokesperson said that Adani Enterprises issued a statement saying that the Demat account in which the shares of the said fund are held has not been frozen. But why has NSDL, which is under the jurisdiction of the finance ministry, not come out with a public statement amidst all the confusion as to which accounts of these funds related to investments in Adani group companies are frozen and which are active?

 

Vallabh demanded that its investigation be handed over to the Enforcement Directorate. "We also demand that if any irregularities have come to light in the ongoing SEBI investigation regarding price manipulation of shares of Adani Group, the Government of India should transfer the same to the Enforcement Directorate for investigation of the entire matter," he said. and must come with the truth for all to understand."

2 Like 0 Dislike
Previous news Next news
Other news

Social media: Facebook a big threat to children and democracy; The company's former data chief Hogan testified in the US Senate

Former Facebook data scientist Francis Hogen has said that Facebook is a big threat to children's

Amit Shah's high-level meeting on the Delhi blasts continues, with the Union Home Secretary and IB chief also present.

The blast near the Red Fort last night has shaken all of Delhi. Union Home Minister Amit Shah has

These items, including earphones and chargers, will not be allowed at the Republic Day parade; if you make this mistake, you will not be granted entry.

Republic Day 2026: Like every year, preparations for Republic Day are in full swing in the capita

IND vs WI: 'Drawball' dominates 'Baseball'; Team India's stormy style against West Indies, made a world record

The Indian cricket team created history in the second match of the Test series against the West I

Education Technology: Rules should be made for education technology companies, many problems in services

96 percent of customers using the services of education technology companies have urged the gover

Operation Sindoor: Many Bollywood celebs including Amitabh Bachchan, Anupam Kher, and Ritesh Deshmukh gave a strong salute to the surgical strike

On 7 May 2025, India carried out precise missile attacks on terrorist bases in Pakistan and PoK u

'God saved me' When Trump remembered the attack at the Republican Party's convention, he said- If I had not moved my head...

Donald Trump's attack Politics is at its peak in the wake of the presidential election in America

Cracks in 50 more houses of Joshimath: Cracks in the hotels where they stayed; People said - if you want to die then why not stay in your house

The situation has worsened in Joshimath, Uttarakhand. Cracks were noticed in more than 50 other h

Like coach Dravid, will Sanju Samson also leave RR before IPL 2026? Inside news came out

Indian team's star batsman and long-time Rajasthan Royals player Sanju Samson's relationship with

Seema Haider Love Story: A true love story of Seema Haider Sachin Meena! or something else?

Ind-Pak Love Story: The love story of Seema Haider and Sachin Meena remains a topic of discussion

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash