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Saturday, October 08 2022
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NSDL says accounts of foreign funds holding Adani stocks not frozen: Report

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New Delhi: The accounts of three foreign funds that are among the top stakeholders in India’s Adani group of companies are not frozen, a source at the National Securities Depository Ltd (NSDL) told a global news wire.

Reports of a freeze on the accounts sent several Adani stocks plummeting earlier on Monday.

The freeze is on accounts of the funds that hold certain other securities and it is not new, the source said.

“NSDL hasn’t taken any action now,” the source told the global news wire.

Earlier, Adani Ports had clarified that the media reports on freezing of accounts of foreign funds were published to deliberately mislead the investing community.

In a stock exchange filing, Adani Ports has clarified its stand on the reports that NSDL has frozen the accounts of three foreign funds – Albula Investment Fund, Cresta Fund and APMS Investment Fund — holding shares in the Adani Group companies.

“We regret to mention that these reports are blatantly erroneous and are done to deliberately mislead the investing community. This is causing irreparable loss of economic value to the investors at large and the reputation of the group,” Adani Ports said.

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

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