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Adani Group suffers major setback as NSDL freezes three FPI accounts

The National Security Depository Limited (NSDL) has frozen three Foreign Portfolio Investors (FPIs) that owned stake worth Rs 43,500 crore in four of the Adani Group of companies. After this report surfaced, the shares of Adani Group witnessed 5-18% fall on Monday morning. Action has been taken against Albula Investment Fund, Cresta Fund and APMS Investment Fund under the Prevention of Money Laundering Act (PMLA) because of inadequate beneficial ownership documentation, according to Reuters. Now, Securities and Exchange Board of India (SEBI) is also investigating whether there has been any manipulation in the stock prices during the last one year, when it gained 200% to 1000%.

Read more: Times Now News | Hindustan Times | The Economic Times

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Avantika Yadav
23, Content Editor @HeadlineEnglish @HeadlineHindi

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