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

No interim relief to Teesta from Supreme Court: Now hearing on bail petition on August 25, notice to Gujarat government as well

The Supreme Court on Monday issued notice to the Gujarat government on Teesta Setalvad's bail ple

Raj Thackeray said: If he remains adamant, then we will also follow a religion, where Hanuman Chalisa will be played from the mike where the azaan will be played

MNS chief Raj Thackeray held a press conference amid loudspeaker controversy and fears of arrest.

SP president Akhilesh Yadav's big announcement - will not contest the UP assembly elections, said later - the party will decide

Samajwadi Party National President and former Chief Minister Akhilesh Yadav had said that he will

'We will kill terrorists by entering their homes', America reacts to PM Modi's statement; Shock to Pakistan Hoping for help

Pakistan is completely upset due to the no-tolerance policy of the Modi government against terror

T20 WC 2024: The captain who equaled Rohit Sharma's record surprised the cricket world, took this decision after the team's defeat

Uganda's team participated in the T20 World Cup for the first time. Making its debut in the T20 W

Haryana Budget 2025: CM Saini will present a budget of 2 lakh crores; 'Pitara' will open for farmers, youth, and women power

The entire bureaucracy is busy preparing the budget of Haryana for the year 2025-26. While Chief

The Queen of Spain sent a grenade gift to Ukraine: A big gift to Zelensky, who is fighting the war against Russia, wished victory with a bomb-launcher

The war between Russia and Ukraine has been going on for the last two months. The war is dragging

Kerala Landslides: Experts kept warning, Kerala government kept turning a blind eye to the possibility of an accident; report put on hold

After the huge loss of life and property due to the landslide in Wayanad, Kerala, amid relief and

Night Curfew in Uttarakhand: Night Curfew imposed in Uttarakhand, Pushkar Singh Dhami government took decision

Night Curfew in Uttarakhand: Because of the increasing cases of Corona, the Pushkar Singh Dhami g

Oppo Reno 8Z 5G: New 5G Smartphone of Oppo Reno series is coming to rock, know secret features

Oppo Reno 8Z 5G Price: Oppo is continuously launching its new smartphones in the market. Oppo Ren

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