• Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
Monday, February 6, 2023
No Result
View All Result
SUBSCRIBE
The Outlooker
27 °c
Delhi
  • Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
  • Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
No Result
View All Result
The Outlooker
No Result
View All Result
  • National
  • Politics
  • Opinion
  • Business
  • Science
  • World
  • Health
Home National

Congress Asks Centre To Break Silence Over Adani Group Foreign Investors’ Accounts

by The Outlooker Web Desk
June 15, 2021
in National
0
Congress Asks Centre To Break Silence Over Adani Group Foreign Investors’ Accounts
1.8k
SHARES
12.9k
VIEWS
Share on FacebookShare on Twitter

The Adani Group, however, said the accounts had not been frozen

New Delhi:

The Congress on Tuesday asked the government to break its silence over the National Securities Depository Ltd (NSDL) freezing the accounts of three foreign investor funds holding a sizeable stake in Adani Group companies and come out with the truth.

Congress spokesperson Gourav Vallabh demanded that the government also make public the beneficiaries of the foreign investor funds which have invested over 95 per cent of their funds in four Adani Group companies that made big gains in the past year.

This comes a day after shares of Adani Group companies plunged up to 25 per cent amid reports that the NSDL has frozen accounts of these three funds.

The Adani Group, however, said the accounts had not been frozen and that any reports to the contrary were “blatantly erroneous and misleading”.

According to news reports, Vallabh said, the NSDL, which is the central securities depository under the Ministry of Finance, has frozen the accounts of Adani Group’s three foreign investor funds: Albula Investment Fund, Cresta Fund and APMS Investment Fund.

These three funds, which have the same registered address in Port Louis, Mauritius and have no websites of their own, together own over Rs 43,500 crore worth of shares in four Adani Group companies, he said.

The funds derive more than 95 per cent of their net worth from their investments in the Adani Group companies, he added.

“The 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 come out with a complete disclosure about the nature of these funds, ultimate beneficial ownership of these funds, the findings of their enquiry (if any), what securities these funds hold and why their accounts were frozen,” he said.

The Congress spokesperson said Adani Enterprises came out with a statement saying the demat account in which the aforesaid funds hold the shares were not frozen.

“But why has the NSDL, which is under the jurisdiction of Ministry of Finance, not come out with a public statement in the middle of all the confusion (on) whether accounts of these funds pertaining to the investments in the Adani Group companies have been frozen and which ones are active?” he asked.

Vallabh demanded that an ongoing investigation by the Securities and Exchange Board of India (SEBI) to ascertain whether the Adani Group manipulated its stock prices be handed over to the Enforcement Directorate.

“We also demand that if SEBI’s ongoing investigation has revealed any irregularities with regards to price manipulation of Adani Group stocks, the government of India should transfer the investigation to the Enforcement Directorate to investigate the entire matter and come out with the truth for everyone to understand,” he said.

(If you like reading The Outlooker, please consider subscribing to us below. Subscriptions are free for first 500 subscribers.)

The Outlooker Web Desk

The Outlooker Web Desk

Next Post
Nifty remains indecisive even as D-Street continues to post record close; check support, resistance levels

Nifty remains indecisive even as D-Street continues to post record close; check support, resistance levels

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Rahul Gandhi Expresses Grief Over Loss Of Lives
National

Rahul Gandhi Expresses Grief Over Loss Of Lives

February 6, 2023
2 Soldiers Die As T-90 Tank Barrel Explodes During Firing Exercise In UP
National

In 2022-2023, Defence Expenditure Was 14.08% Of Expenses: Centre

February 6, 2023
“Who Is Shah Rukh Khan?” Assam’s Himanta Sarma When Asked About Pathaan
National

Teenage Pregnancy Ratio In State Quite Alarming, Says Assam Chief Minister Himanta Biswa Sarma

February 6, 2023
Congress Tripura manifesto promises old pension scheme, free 150 units of electricity
Politics

Congress Tripura manifesto promises old pension scheme, free 150 units of electricity

February 6, 2023

Connect with us

No Result
View All Result

Archives

  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020

Category

  • Artistic
  • Business
  • Crypto
  • Design
  • Entertainment
  • Fashion
  • featured
  • Food
  • Gaming
  • Health
  • Human
  • Lifestyle
  • Movie
  • Music
  • National
  • Opinion
  • Politics
  • Science
  • Spaces
  • Sports
  • Tech
  • Travel
  • Uncategorized
  • World

Recent Posts

  • Rahul Gandhi Expresses Grief Over Loss Of Lives
  • In 2022-2023, Defence Expenditure Was 14.08% Of Expenses: Centre
  • Teenage Pregnancy Ratio In State Quite Alarming, Says Assam Chief Minister Himanta Biswa Sarma

About Us

The Outlooker

The Outlooker is your source of authentic, hand-picked news, stories, analysis from India & the World.

  • Terms Of Service
  • Privacy Policy
  • About us
  • Submit your story
  • Contact

© 2019-2021 The Outlooker. All rights reserved.

No Result
View All Result
  • Home
  • Politics
  • World
  • Business
  • Science
  • National
  • Entertainment
  • Gaming
  • Movie
  • Music
  • Sports
  • Fashion
  • Lifestyle
  • Travel
  • Tech
  • Health
  • Food

© 2019-2021 The Outlooker. All rights reserved.