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

'Now even mutton-chicken eaters have become animal lovers...', why did the government say this in the Supreme Court in the case of stray dogs?

SC on stray dogs. Today again, the Supreme Court heard the case regarding stray dogs in Delhi-NCR

Global Investors Summit 2023: PM Modi will inaugurate the Global Investors Summit, and many investors will be involved

PM Modi will inaugurate the Global Investors Summit in Madhya Pradesh. The two-day Global Investo

Weather Update Today: Relief from scorching heat will be available soon, know when it will rain in Delhi, this prediction about UP-Bihar

The Meteorological Department has told us when it will rain in the capital Delhi. Right now, Delh

India-Canada Row: 'There is no place for hatred in Canada' Security Department said on threats to Hindus

India-Canada Row: Tension continues in diplomatic relations between India and Canada. Meanwhile,

Data theft of 4 crore patients from Delhi AIIMS: Many veterans including Atal Bihari-Sonia Gandhi have been treated, and case filed against unknown people

A major cyber attack has been revealed on the online system of Delhi AIIMS. Data of about 4 crore

Bomb Threat: Many schools and airports in the country received bomb threats, and police are on high alert

Bomb Threat In India: Schools and airports in many states of the country are receiving bomb

Covid Vaccine for Children: Vaccination of 12-14-year-old children will start from March, 15-18 year age group vaccination will also be completed soon

The pace of coronavirus vaccination is increasing rapidly in India. Meanwhile, the President of t

Is Today Eid 2026? Is Eid Today or Tomorrow? When Will the Celebrations Take Place in India?

Eid-ul-Fitr is one of the most significant festivals in the Islamic faith. It is celebrated follo

Ramlala Pran Pratishtha Anniversary: ​​CM Yogi will perform Abhishek on January 11, 170 saints and religious leaders from across the country will participate

On completion of one year of consecration of the idol of Ramlala, the annual ceremony will be cel

Elon Musk's clarification on free speech: Said earlier - will give freedom to free speech, now said - everything will be according to the law

Twitter's new owner Elon Musk is claiming free speech on this platform. After which many people a

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