Adani Group clarifies: Demat account of 3 foreign funds 'not frozen'

"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 Group says.

Jun 14, 2021 03:06 IST India Infoline News Service

Adani Group has clarified on a news article published in Economic Times-A/C''s of 3 FPI''s owning Adani shares frozen.

In its regulatory filing today, Adani Group said, “We bring to your kind attention, the news headlines published in ET 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.”

“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,” Adani Group said.

Further, the company said in the filing that “we are issuing this letter in the larger public interest and for the protection of minority investors interest. We request you to kindly take the same on record.”

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