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

MI vs RCB: Virat Kohli apologized to the fans by holding his ears, knowing what the demand made by the spectators at Wankhede Stadium

If Royal Challengers Bangalore's star batsman Virat Kohli is in the field then the atmosphere is

NASA's Moon mission will be closest to the moon today: the distance will be 130 KM at 6.27 pm; Flight was filled on 16 November

The Orion spacecraft of the American space agency NASA will pass closest to the moon today. Accor

West Bengal: Two suspected Al-Qaeda terrorists arrested in Bengal, material for war against the country found

West Bengal STF has arrested two suspected members of the banned terrorist organization Al Qaeda

Canada Row: Tension increased between India and Canada due to the attack of Khalistanis on Hindus, Sikh community also came out in support

The ongoing tension in the relations between India and Canada may increase further due to Khalist

Gadar 2: After Gadar 2, will Tara Singh's hammer work in Gadar 3 as well? Sunny Deol's answer increased the restlessness of the fans

Actor Sunny Deol, who got his two and a half kilos of iron in Bollywood, is making a lot of headl

Samsung launched the phone with the best camera, know all the features of this phone

Samsung Galaxy M53 5G: If you want to buy a phone with the best camera and spend less money, then

Why America helpless in front of India: took oil from Russia and also weapons; Both Moscow-Washington have been eased with the best foreign policy

After the Russian attack on Ukraine on 24 February, Western countries announced drastic sanctions

SRH vs KKR: Kolkata won by nine runs; Sunrisers got their sixth defeat, could not score 38 runs in the last 30 balls to win

Sunrisers Hyderabad needed nine runs in the last over. The ball was in the hands of Man of the Ma

Pune bandh in protest against remarks on Chhatrapati Shivaji: All shops, medical stores, and petrol pumps will remain open till 3 pm

The all-religious Shivpremi Punekar, along with the Maratha organization Sambhaji Brigade, severa

Sanatan Dharma: An attempt was made to insult Sanatan Dharma, Rahul Gandhi and Uddhav Thackeray are sitting silent - Anurag Thakur

Union Minister Anurag Thakur on Monday (September 11) once again cornered the opposition over the

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