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

'Will give a befitting reply to every wrongdoing of China on LAC', Lieutenant General said - will not let the status quo change

India has warned today about the ceasefire violations by China on LAC in the last few years. Lieu

Chief Minister Yogi Adityanath ate khichdi at the house of a Dalit in Gorakhpur, know what is this 40-year-old tradition

Chief Minister and Gorakshpeethadhishwar Yogi Adityanath reached a Dalit's house in Gorakhpur on

Jonty Rhodes started touching Sachin's feet: The incident happened after MI's fifth consecutive defeat, Jonty was the first Mumbai fielding coach

After the match between Mumbai Indians and Punjab Kings on Wednesday in IPL 2022, there was a ver

EC: Selection committee meeting under the chairmanship of PM Modi today, appointment of election commissioners may be approved

The selection committee headed by Prime Minister Narendra Modi will meet on Thursday afternoon to

Bangladesh Protests: At least 300 people have died so far in Bangladesh due to violence, and curfew imposed across the country

Students' protest against reservation continues in Bangladesh. There is a curfew here at 6 pm on

Bringing the opposition together, don't let the remote control get tagged; Thorns in the path of Congress boss Kharge

After 24 years, senior leader Mallikarjun Kharge, who has been elected non-Gandhi president of Co

IND vs AFG: Captain Rohit Sharma got a special achievement by registering a win against Afghanistan, equaling MS Dhoni's big record.

Rohit Sharma equals MS Dhoni's record for most wins in T20I as Indian Captain: Indian captain Roh

How to buy iPhone 17, iPhone Air, iPhone 17 Pro, and iPhone 17 Pro Max cheap? See offers and pre-order details.

Apple has launched the all-new iPhone 17 series at its 'Awe Dropping' launch event on September 9

Amrit Bharat Train: Inside pictures of the new Amrit Bharat train surfaced, it is equipped with these luxury facilities

Prime Minister Narendra Modi will flag off the new Amrit Bharat train in Ayodhya today. PM Narend

Ladakh: Home Ministry's big decision to protect the culture and language of Ladakh, a special committee formed

The Union Home Ministry on Monday constituted a high-powered committee to discuss measures to pro

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