According to Economic Times report, accounts of APMS investment fund, Cresta fund and Albula investment fund which are foreign funds have been frozen by NSDL around may 31.
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| Chairman of Adani group Gautam Adani (Pic:- twitter/gautamadani) |
Adani group shares have crashed on monday after Economic Times report that National Securities Depository Ltd. (NSDL) has frozen accounts of three Foreign funds that have Rs. 43,500 crore investment in four companies of Adani group.
Adani enterprises, Adani total gas, Adani power, Adani green energy, Adani ports and special economic zones and Adani transmission are six companies of Adani group. Adani enterprises and Adani ports are Nifty-50 listed.
According to Economic Times report, accounts of APMS investment fund, Cresta fund and Albula investment fund which are foreign funds have been frozen by NSDL around may 31 due to insufficient disclosure of information regarding beneficial ownership as per the 'Prevention of Money Laundering Act'.
These foreign funds had investment of worth Rs. 43,500 crore in the four companies of Adani group. After the Economic Times report, shares of Adani enterprises fell by 25%, Adani ports by 17%, Adani Total gas by 5%, Adani power by 5%, Adani green energy by 5% and Adani transmission also fell by 5% on monday.
Securities and Exchange Board of India (SEBI) will also look into this matter. From one year, share prices of Adani group were increasing rapidly. He also became Asia's second richest man and 14th richest man in the world.
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