Shares of Adani group corporations fell by about 5% to 18% on Monday, after the National Securities Depository Ltd (NSDL) froze the accounts of three overseas funds which can be among the many high stakeholders within the companies.
Adani Enterprises and Nifty 50-listed Adani Ports and Special Economic Zone have been the highest losers, plunging greater than 15% every.
The NSDL has frozen the accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund, its web site reveals with out citing a purpose for the freeze.
The freeze on the three accounts might be due to inadequate disclosure of data associated to helpful possession, in keeping with a report within the Economic Times.
The funds have an funding of 435 billion Indian rupees ($6 billion) in Adani group corporations, in keeping with the report.
An Adani spokesman didn’t instantly reply to a request looking for remark. Reuters was unable to succeed in NSDL for remark.
($1 = 73.1300 Indian rupees)
