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".

 

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

UNSC: China put obstacles in declaring Makki as a UN terrorist, stopped India and US proposal

China has once again turned down the efforts of India and America while supporting Pakistan on te

Rashid Khan: Rashid Khan was fined for throwing the bat in the match against Bangladesh, ICC took action

Afghanistan captain Rashid Khan has been charged with violating Level 1 of the ICC Code of Conduc

Tamil Nadu: Politics heats up due to ED's action against Minister Senthil Balaji, Congress said - we will not be afraid

ED's action against Tamil Nadu Government's Electricity Minister Senthil Balaji has heated the po

Realme GT 2 Pro will be launched today, the world's first phone whose camera is getting this feature

Realme GT 2 series smartphones will be launched today (Tuesday, January 4). The lineup is rumored

Ram Mandir: Enthusiasm about Ram Mandir even in foreign countries; Live telecast of the consecration will take place at Times Square.

The live telecast of the consecration of Ram temple in Ayodhya on January 22 will be not only in

The Bengal Files: Another FIR against 'The Bengal Files' director Vivek Agnihotri, Gopal Mukherjee's family makes serious allegations

The family of Gopal Mukherjee alias Gopal Patha, who played an important role in protecting Hindu

Hunger, poverty, and old age... these 5 big challenges before the world of 8 billion; what a serious crisis

The population of humans in the world has now crossed 8 billion. In 1950, the number of human bei

India's defeat changed the equation: Team India may be out if it loses to Bangladesh

Team India lost to South Africa by 5 wickets in the T20 World Cup on Sunday. After this result, t

IND vs ENG: English batsman trapped in Kuldeep Yadav's spin, 'Chinaman' broke the 45-year-old record of former Indian captain

The fifth match of the five-match Test series between India and England (Ind vs Eng) is being pla

IND vs ENG: 'Guru' Yuvraj's reaction on Abhishek's century; Coach Gambhir smiled when Varun took a catch on the boundary

Thanks to the all-round performance of young star Abhishek Sharma, India defeated England by 150

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