Adani Ports denies reports on NSDL freezing accounts of foreign funds

New Delhi: Adani Ports has clarified that media reports on freezing of accounts of foreign funds is done to “deliberately mislead the investing community”.

In a stock exchange filing, Adani Ports was clarifying on reports that NSDL has frozen the accounts of 3 foreign funds- Albula Investment Fund, Cresta Fund and APMS Investment Fund holding shares in Adani Group Companies.

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

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

Rajya Sabha MP Subramanian Swamy has sought an investigation for money laundering. He said in a tweet, “I have seen evidence of the violations by the Trapese Artist Adani of the Prevention of Money Laundering Act, a matter for the Enforcement Directorate to prosecute. But PM Modi must get a background check of ED top officials before ED prosecution is launched to avoid sabotage.”

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