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Accounts of three foreign funds holding stake in Adani Group freeze, shares of Gautam Adani’s companies collapse

The three funds whose accounts have been frozen by NSDL are 6.82 per cent in Adani Enterprises, 8.03 per cent in Adani Transmission, 5.92 per cent in Adani Total Gas and 3.58 per cent in Adani Green. According to the NSDL website, these accounts were frozen on or before May 31. With the account being frozen, these funds can no longer sell or buy new shares in their account. These three funds are registered with markets regulator SEBI as Foreign Portfolio Investors and operate out of Mauritius.

According to the English newspaper Economic Times, action has been taken against these companies for not giving full ownership information. Keep in mind that under the Prevention of Money Laundering Act, all companies are required to give complete information about beneficial ownership.

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