Why were accounts of FPIs in Adani group frozen, Cong. asks govt.

All three funds have the same address in Mauritius, says oppn

The government should break its silence over the National Securities Depository Ltd (NSDL) freezing the accounts of three foreign portfolio investors (FPIs) that had substantially invested in Adani Group, the Congress said on Tuesday. Addressing a virtual press conference, Congress spokesperson Gourav Vallabh demanded that the Narendra Modi government should make public the beneficiaries of the foreign investor funds that have invested over 95% of their funds in four Adani Group companies that had witnessed massive gains in the past one year. The Congress’ comments come a day after after shares of Adani Group companies fell by as much as 25% amid reports that the NSDL had frozen accounts of the three funds. The Adani Group, however, refuted the reports and called them “blatantly erroneous and misleading”.