National Securities Depository (NSDL) has frozen the accounts of three foreign funds that together own shares worth Rs 43,500 crore in four Adani Group companies. The accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund were frozen on or before May 31, as per the depository's website. An account freeze indicates that the funds would not be able to sell any of the existing securities or buy any new securities.
Adani Ports and Special Economic Zone (APSEZ), a part of globally diversified Adani Group, is the largest integrated logistics player in India.