It was not immediately clear when the investigation was launched. The minister, Pankaj Chaudhary, did not name which companies were involved.
The Minister of State for Finance was answering in a response to questions posed by Lok Sabha member Mahua Mitra in the ongoing monsoon session of the Parliament.
The government also clarified that the three foreign portfolio investors — Albula Investment Fund Ltd, Cresta Fund Ltd, Apms Investment Fund Ltd — were not in the frozen list of the country’s securities depository in relation to their investment in Adani Group companies.
“In a matter pertaining to issuances of Global Depository Receipt (GDR) by certain Indian listed companies, SEBI vide Order dated June 16, 2016 had directed depositories to freeze particular beneficiary accounts of certain FPIs including Albula Investment Fund Ltd., Cresta Fund Ltd., and APMS Investment Fund Ltd. However, no Order in respect of other beneficiary accounts of these three FPIs has been passed by SEBI,” Pankaj Chaudhary said in a written reply.
In June, shares of
group companies nosedived after The Economic Times had reported that three FPI shareholders of the company were under the NSDL’s frozen accounts list due to inadequate disclosures.
Earlier this month, Adani Group Chairman Gautam Adani accused media and certain commentators of building a “twisted narrative” that adversely affected small investors.
Shares of most Adani Group companies ended lower in today’s trade on the National Stock Exchange.
(With inputs from Reuters)