SC asks TMC MP to approach SEBI for public disclosure of FPIs
New Delhi, The Supreme Court on Tuesday asked TMC MP Mahua Moitra to make a detailed representation to the SEBI on mandating public disclosure of portfolio holdings of alternative investment funds and foreign portfolio investors. SC asks TMC MP to approach SEBI for public disclosure of FPIs A bench of Justices B V Nagarathna and Satish Chandra Sharma passed the order while hearing Moitra's plea for a direction to the Securities and Exchange Board of India to mandate public disclosure of ultimate beneficial owners and portfolio of alternative investment funds, FPIs and their intermediaries in India. Moitra said her PIL sought transparency and investor awareness in India's financial markets by mandating public disclosure of ultimate beneficial owners details as well as portfolio holdings of AIFs and FPIs. Unlike mutual funds, which are subject to stringent public disclosure norms, AIFs and FPIs operate under opaque structures, raising risks of market manipulation, money laundering, and tax evasion," the plea said.
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