NSDL clarifies: Freeze only on GDR a/cs of FPIs investing in Adani cos
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Last Updated: Jul 30, 2021, 07:00 AM IST
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In an announcement to the stock exchanges on June 14, Adani had said the accounts of the three foreign investors holding shares of its group companies were ‘not frozen’. An email from NSDL to Adani officials on the same day said the accounts of the three FPIs are ‘active’.
On July 19, minister of state (MoS) for finance Pankaj Choudhary told Parliament that the account freeze status of the three funds was linked to violations involving global depository receipts.
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The Come By Chance refinery may have found new owners which will keep the facility open to create biofuel. (Silverpeak)
Worries about the idled Come By Chance oil refinery could be over, as the facility has been bought by United States-based private equity firm Cresta Fund Management, a union representative confirmed on Tuesday.
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(Bloomberg) Four Mauritius-based funds that have attracted attention for parking almost all their money in companies controlled by Indian billionaire Gautam Adani have a history of investing in firms which ended up defaulting or were investigated for wrongdoing.
Before they put about 90% of their $6.9 billion under management in the Adani empire, the funds Elara India Opportunities Fund, Cresta Fund, Albula Investment Fund and APMS Investment Fund held significant stakes in two companies whose founders fled India and have since been probed for money laundering, another that went bankrupt, and a fourth that was liquidated after sparring with the Ethiopian government.
By Anurag Kotoky
Four Mauritius-based funds that have attracted attention for parking almost all their money in companies controlled by Indian billionaire Gautam Adani have a history of investing in firms which ended up defaulting or were investigated for wrongdoing.
Before they put about 90% of their $6.9 billion under management in the Adani empire, the funds Elara India Opportunities Fund, Cresta Fund, Albula Investment Fund and APMS Investment Fund held significant stakes in two companies whose founders fled India and have since been probed for money laundering, another that went bankrupt, and a fourth that was liquidated after sparring with the Ethiopian government.