TMC MP Mahua Moitra moves Supreme Court seeking SEBI disclosure of Ultimate Beneficial Owners and portfolios of FPIs and AIFs to prevent market risks. Court allows her to file affidavit and keeps legal remedies open.
The Supreme Court of India dismissed a Public Interest Litigation by MP Mahua Moitra aimed at enhancing transparency in financial markets concerning Alternative Investment Funds (AIFs) and Foreign Portfolio Investors (FPIs). The petition emphasized disclosure of ultimate beneficial owners, arguing that the current opacity raises risks of market manipulation, money laundering, and economic instability.
Today, On 27th November, Gautam Adani and several executives from Adani Green faced allegations of securities law violations related to a bribery scheme in India. The U.S. SEC’s complaints and criminal indictments indicate serious legal challenges for the Adani Group, leading to significant financial losses and declines in stock prices for Adani Green.
