Adani Account Freeze Case: The Adani group said the reports that the National Securities Depository Limited (NSDL) has frozen the accounts of three foreign portfolio investors (FPIs) are incorrect.
An Economic Times report today reported that three funds from Mauritius with the same registered address in Port Louis, and none of the websites were banned “for information on beneficial ownership as per the Prevention of Money Laundering Act (PMLA)”. Due to insufficient disclosure.” The names of the funds are Albula Investment Fund, Cresta Fund, and APMS Investment Fund.
Adani Enterprises (ADEL:NS) said in a statement, “We regret to note that these reports are clearly wrong and intentionally made to mislead the investing community.”
A CNBC-TV18 report said that Albula Investment Fund also said that the fund is fully operational within trading in India and abroad as well. It said, “The reports of freezing of accounts are wrong and manipulative.
However, a simple look at the National Securities Depository Limited (NSDL) has freeze three accounts of Adani Group. The PAN numbers of all the funds are also available on the page.
An April 26 report in The Morning Context was the first to highlight these funds. As per the report, 95% of the total assets of Albula Investment Fund come from the shares of Adani Group. “As for Cresta Fund, 97% of its net worth comes from just three Adani group companies, while 96% of APM Investment Fund Ltd’s net worth comes from four Adani companies.”