New Delhi: The Adani Group on Monday informed the stock exchanges that reports on National Securities Depository Ltd (NSDL) freezing the accounts of three foreign funds — Albula Investment Fund, Cresta Fund, and APMS Investment Fund — are “blatantly erroneous”.
“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,” according to an Adani statement here.
“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 June 14, 2021, clarifying that the Demat Account in which the aforesaid funds hold the shares of the Company are not frozen,” the group stated.
Stocks of Adani Group companies took a pounding in morning trade on June 14, falling as much as 20 per cent on reports that NSDL has frozen accounts of three foreign funds that own stake in four of the six group companies.
According to reports, accounts of the three investment funds, which own over Rs 43,500 crore worth of shares in four Adani Group companies, were frozen on or before May 31.
(VP)