
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."
Language dispute in Bengaluru: The youth who was pressurized to speak Hindi apologized in Kannada
A man who asked an auto driver in Karnataka's capital Bengaluru to speak in Hindi apologized in K
Climate change is not only affecting the production of crops, but their quality is also having a
The Supreme Court may stay some provisions of the Waqf Amendment Act, of 2025. The court said tha
Today, Prime Minister Narendra Modi transferred the 10th installment of Pradhan Mantri Kisan Samm
The country is going to celebrate its 74th Republic Day this year on January 26, 2023. On this da
It is said that there cannot be only one medicine for every merge, but after the last World Cup,
BJP Attacks K Chandrashekhar Rao: Telangana Chief Minister K Chandrashekhar Rao Bharatiya Janata
Strong earthquake tremors were felt in Hingoli, Maharashtra at around 6.08 am. The intensity of t
What is India taking from Russia, which America said is dangerous
Russia has been a traditional ally of India. India and Russia have had a relationship of trust si
After addressing the country on Operation Sindoor, PM Modi reached Adampur Airbase in Jalandhar e