The start of the week was a disappointment for Gautam Adani, India’s second richest man. According to an Economic Times report, the National Security Depository Limited (NSDL) has frozen three foreign funds. According to the report, they all invested Rs 43,500 crore in four of Adani Group’s four companies. Following the move by the National Security Deposit, Adani Group’s shares fell sharply this morning. An Adani Group spokesman declined to comment on the entire matter.
According to the report, Albula Investment Fund, Cresta Fund and APMS Investment Fund owns shares of four companies of Adani Group, worth Rs 43,500 crore. Action has been taken against these companies under the Money Laundering Prevention Act. It is alleged that he did not give enough information about profitable ownership.
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The Securities and Exchange Board is also investigating whether there has been any manipulation in the share price over the past one year. Let us tell you that Adani Enterprises has increased 741%, Adani Ports 100%, Adani Green 245%, Adani Transmission 650%, Adani Power 271% and Adani Total Gas Shares by 1066%.
Shares of Adani Group fell sharply today
Following the move by National Security Depositors, Adani Enterprises’ shares fell 25%, Adani Ports 17%, Adani Green 5%, Adani Transmission 5%, Adani Power 5% and Adani Total Gas 5%.
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