The Adani Group on Monday responded to the report on National Securities Depository Ltd (NSDL) freezing accounts of three foreign funds which together own between 2.1% and 8.91% stakes in five Adani Group companies as ‘blatantly erroneous’, according to news agency Reuters.
The Adani Group also said that they have registrar and transfer agent confirmation that the demat account in which concerned funds with shares are present are not frozen.
The NSDL froze the accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund without citing any reasons for the freeze. Following the release of this report, Adani Enterprises, which consists of Adani Power, Adani Enterprises, Adani Green, Adani Transmission and Adani Total Gas Ltd, plunged as much as 25% on Monday.
