‘Reports of NSDL Freezing Accounts Of Three FPIs Are Not Correct’: Adani Group  

‘Reports of NSDL Freezing Accounts Of Three FPIs Are Not Correct’: Adani Group  Gautam Adani, chairman of Adani Group (Abhijit Bhatlekar/Mint via Getty Images)

In the latest development, Adani group of companies informed the stock exchanges that media reports claiming that National Securities Depository Ltd (NSDL) had frozen the accounts of three foreign funds, Albula Investment Fund, Cresta Fund and APMS Investment Fund, are incorrect, reports Business Standard.

"It is done to deliberately mislead the investing community. This is causing irreparable loss of economic value to the investors at large and reputation of the group." Adani Group companies said in a letter.

"Given the seriousness of the article and its consequential adverse impact on minority investors, we requested Registrar and Transfer Agent, with respect to the status of the Demat Account of the aforesaid funds and have their written confirmation vide its e-mail dated 14th June, 2021, clarifying that the Demat Account in which the aforesaid funds hold the shares of the Company are not frozen," the group firms further stated.

The media reports had claimed that the accounts of the three investment funds, owning over Rs 43,500 crore worth of shares in four Adani Group companies, were frozen on or before 31 May, as per the NSDL’s website.

The said media reports had led to a state of panic amongst investors leading to a free fall in the share prices of all six listed Adani Group companies in the intraday session.