Supreme Court refuses to force SEBI reveal AIF FPI owners
India
The Supreme Court has turned down a push to make the Securities and Exchange Board of India (SEBI) reveal who really owns alternative investment funds (AIFs) and foreign portfolio investors.
This came after MP Mahua Moitra asked for more transparency in India's financial markets, but the court said it can't force these disclosures without an actual law backing it.
Bench tells Moitra to approach Parliament
The judges suggested Moitra take this issue to Parliament if she wants change: Basically, new rules need to be made before SEBI can act.
Even though her lawyer argued that knowing who's behind big investments would help stop market manipulation, the court stood firm: no legal framework, no mandatory transparency.