The Securities and Exchange Board of India (SEBI) should ensure complete disclosure of ownership of Foreign Portfolio Investors (FPIs) from retrospective effect, the Congress said on June 1, as it reiterated its stance that only a joint parliamentary committee (JPC) can investigate to ascertain who ‘diluted and deleted’ this rule that benefited the Adani Group.
The Congress statement came a day after capital markets regulator SEBI proposed mandating additional disclosure around ownership of high-risk FPIs to enhance trust in the Indian securities markets. On May 31, the SEBI came out with a proposal mandating enhanced disclosures from high-risk FPIs to guard against possible circumvention of the Minimum Public Shareholding (MPS) requirement.
