Earlier on Monday morning, news came that the National Securities Depository Limited (NSDL) has blocked the accounts of Foreign Funds (FPIs) investing in Adani Group companies. However, the opposite news came on Monday night. A top NSDL official said that the accounts of FPIs investing in Adani Group companies have not been frozen.
On Monday morning, there was news of blocking FPI accounts, there was a ruckus in the shares of Adani Group companies. All-round selling was seen in the shares of every company of the group.
NSDL strict on 3 FPIs having big investment in Adani Group, Mauritius is registered
NSDL Vice President Rakesh Mehta told Adani Group officials, “The demat accounts mentioned in your email appear to be active in the system of NSDL.”
Mehta is specifically talking about Albula Investment Fund, Cresta Fund and APMS Investment Fund. These three companies together hold shares worth about Rs 43,500 crore in Adani Enterprises, Adani Green Energy, Adani Transmission and Adani Total Gas.
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Moneycontrol has also looked into the e-mails between the executives of Adani Group and NSDL. However, it is still visible on the website of NSDL that the accounts of these three FPIs are frozen. But NSDL officials said that punitive action was taken against these three foreign funds in the old case, yet NSDL has not taken any action.
Market experts say that if the regulator freezes a particular account of a company, it does not mean that all its trading and dealings on the stock exchange have been frozen or suspended. The shares of Adani Group companies fell sharply today due to the news of freeze of accounts of 3 FPIs.
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