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

Elvish Yadav: Vinay used to help Elvish organize rave parties, Rahul arrived with a group of snake charmers.

Kotwali Sector-20 police have arrested two associates of jailed YouTuber Elvish Yadav for supplyi

Actor Vijay's party TVK also came out in protest against language policy and delimitation, saying - it is against federalism

The DMK government of Tamil Nadu has opened a front against the central government on the issue o

IQoo 11 Series Launching Confirmed On December 8, This Smartphone Will Also Be Launched In India Very Soon

IQoo 11 Series Launch Date: iQoo has confirmed the launch date of its upcoming flagship smartphon

Effect of Putin's order: Russians fleeing to avoid fighting against Ukraine, thousands of vehicles queue at the Georgia border

Russia's attacks against Ukraine continued for the 216th day. Meanwhile, President Vladimir Putin

Punjab Elections 2022: Arvind Kejriwal on Goa tour, wife and daughter took the lead in Punjab elections

The Aam Aadmi Party, which has registered a massive victory in the Delhi Assembly elections for t

Citadel India: Seeing the leaked BTS pictures of 'Citadel', the fans got excited, Samantha-Varun was busy shooting

At present, eagerness is being seen in the hearts of the audience for Priyanka Chopra's action en

PM Modi spent four hours in the White House, reading about the issues discussed from defense to the extradition of Tahawwur Rana?

The meeting between President Donald Trump and PM Narendra Modi has prepared a blueprint for the

Adani New Deal: Gautam Adani will now acquire this company, the deal will be finalized for Rs 835 crore

The success of Gautam Adani, the world's fourth richest businessman, continues. They are making t

Bhagwant Mann will be the CM face of Aam Aadmi Party in Punjab, Arvind Kejriwal announced, 93.7 percent people said that Mann is the first choice

Bhagwant Mann will be the chief minister's face of the Aam Aadmi Party in the Punjab Assembly ele

Russia-Ukraine war: Putin arrives on Iran tour amid war, now Russia's target is Ukraine's Mykolaiv city

The war between Russia and Ukraine, which started on February 24, has been going on for 5 months,

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