The Sebi said chief executive Sanjay Sapre failed to address the risk of illiquid underlying portfolios, while fund managers did not ensure funds were invested in best interest of unitholders
The Sensex rose as much as 234 points to hit an all-time high of 52,785.71 and Nifty 50 index touched an all-time high of 15,878.75.
The Indian equity benchmarks are set to open on a flat note on tuesday aas indicated by the Nifty futures traded on Singapore Exchange.
Coal India reported a 0.8 per cent decline in consolidated profit to Rs 4,588.96 crore in the quarter ended March 2021 from Rs 4,625.7 crore in the same quarter ended last year
Adani Group flagship Adani Enterprises closed down 6.3 per cent after plunging as much as 25 per cent, its steepest fall in nearly a decade.
Adani Enterprises, the conglomerate's flagship company, ended 6.3 per cent lower. The companies had earlier reduced some losses after they said the report was "erroneous".
Adani Group on Monday termed the report as "Blatantly Erroneous" which said that the NSDL has frozen accounts of three foreign portfolio investors
Reliance Industries has gained 1.8 per cent to Rs 2,253.90 to top the gainers list on the BSE, and Bajaj Finance and Dr Reddy's have gained 1-2 per cent each
Shares of Adani Enterprises rose over 10-fold in the past year until Friday, while Adani Transmission shares gained more than eight-fold
The National Securities Depository reportedly froze the accounts of three foreign funds, which have a total investment of Rs 435 billion in Adani group companies
Asian markets were higher, with multiple major markets in the region closed for holidays. In Japan, Nikkei 225 rose 0.45 per cent and Topix index gained 0.25 per cent
The markets have been rising to record highs on the back of hopes of faster economic revival as pace of new Covid-19 infections continue to decline.