The decision by the Securities and Exchange Board of India (SEBI) to mandate enhanced disclosure requirements for some foreign portfolio investors (FPIs) point to a “clear admission of guilt” by the market regulator in the wake of the Supreme Court’s expert committee recommendations, the Congress said on June 30.
In a statement, Congress general secretary Jairam Ramesh asserted that SEBI’s investigation has limited scope and only a joint parliamentary committee (JPC) probe can fully unravel “the Adani scam”.
His statement followed the SEBI board approving a proposal to amend the FPI rules on Wednesday. Under the proposed framework, FPIs with concentrated single group equity exposures or significant equity holdings will be mandated to make additional granular disclosures.
