New Delhi: Among stocks, Adani Ports sank by 17 per cent to Rs 697.45 per share after reports said that National Securities Depository Ltd (NSDL) has frozen the accounts of three foreign funds — Albula Investment Fund, Cresta Fund and APMS Investment Fund — which together own over Rs 43,500 crore worth of shares in four Adani Group companies. CLICK HERE FOR NSDL LINK
According to an Economic Times report, accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund, which together own over Rs 43,500 crore worth of shares in four Adani Group companies, were frozen on or before May 31, as per the depository’s website.
“The freeze on the three accounts could be because of insufficient disclosure of information regarding beneficial ownership under the Prevention of Money Laundering Act (PMLA),” the report mentioned. It further stated that custodians usually warn clients of such action but if the fund does not respond, or fails to comply, then the accounts can be frozen.
