The Securities Exchange Board of India (SEBI) is investigating some of Adani's enterprises. According to the Parliament, the markets regulator is looking into the compliance of various Adani group companies with SEBI norms.
In early trading on Tuesday, shares of all six Adani group firms that are publicly traded fell.
In Mumbai, Adani Total Gas, Adani Transmission, Adani Green Energy, and Adani Power all saw a 5% drop.
He said that three of the six Mauritius-based funds, which have mostly invested in Adani Group companies, had their accounts frozen in 2016 due to the issue of Global Depository Receipts (GDR) by certain listed companies. Their holdings in other companies were not put on hold.
"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.
The government also stated that the three foreign portfolio investors - Albula Investment Fund Ltd, Cresta Fund Ltd, and Apms Investment Fund Ltd - were not on the country's securities depository's "frozen list" as a result of their investment in Adani Group enterprises.
Adani Total Gas shares declined 4.91 percent, while Adani Transmission shares fell up to 5%.
On July 20 at 11.20 a.m. IST, shares of Adani Power, Adani Green Energy, Adani Ports, and Adani Enterprises plummeted 4.99 percent, 4.91 percent, 1.46 percent, and 2.26 percent, respectively, on the NSE.
Sebi is looking into the compliance of various Adani Group entities with Sebi standards. The Enforcement Directorate (ED), on the other hand, was not looking into the group companies.