Trinamool MP Mahua Moitra’s Supreme Court plea seeks SEBI norms for public disclosure of FPI and AIF beneficial owners. The bench observed, “SEBI reply doesn’t address this at all,” and adjourned the case to October 14.
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NEW DELHI: The Supreme Court of India is currently hearing a petition filed by Trinamool Congress MP Mahua Moitra, which seeks clear norms from the Securities and Exchange Board of India (SEBI) for public disclosure of beneficial owners and portfolios of Foreign Portfolio Investors (FPIs) and Alternative Investment Funds (AIFs). The plea aims to enhance market transparency and prevent potential market manipulation.
During the last hearing, the bench observed that SEBI had responded to the petitioner’s representation. Senior advocate Prashant Bhushan was granted time to file a short affidavit regarding transparency in foreign portfolio investors. The matter was initially adjourned to October 9, 2025.
Adv. Prashant Bhushan emphasized:
“PMLA regulations don’t require public disclosure, and the SEBI reply doesn’t address this at all.”
Meanwhile, Justice J. Nagarathna noted:
“A reply has been filed, but we haven’t issued notice yet. Let the reply be made part of the record.”
Following the submissions, the court directed that the additional document filed by SEBI shall be made part of the writ petition, and adjourned the matter to October 14, 2025.
Bench:
Justices BV Nagarathna & R Mahadevan
Case Title:
MAHUA MOITRA V UNION OF INDIA AND ANR
W.P.(C) No. 885/2025
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