Adani Group says report of freeze on foreign funds ‘blatantly erroneous’

NEW DELHI: Adani Enterprises Ltd said on Monday that media reports about freezing of accounts of three foreign funds which had invested in the group companies were “blatantly erroneous.”
The company said it had an e-mail from the “Registrar and Transfer Agent” dated June 14 saying “that the Demat Account in which the aforesaid funds hold the shares of the company were 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,” the company stated in a notification to exchanges.
“We are issuing this letter in the larger public interest and for the protection of minority investors interest,” it added.
Shares of Adani Group companies fell sharply after it was reported that the National Securities Depository Ltd (NSDL) had apparently frozen the accounts of three foreign funds, which have a total investment of Rs 43,500 crore in Adani group companies.

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