Foreign Investors Seek Legal Relief from Sebi's Ownership Disclosure Norms
Two Mauritius-based foreign portfolio investors, LTS Investment Fund and Lotus Global Investment, have approached the Securities Appellate Tribunal (SAT) to seek relief from complying with Sebi's new ownership disclosure regulations. These regulations were introduced to prevent round-tripping and ensure transparency in investments. The verdict from SAT is awaited.
- Country:
- India
With the Sebi-imposed deadline for disclosing beneficial owners in Foreign Portfolio Investments (FPIs) expiring on Monday, two Mauritius-based investors have sought legal avenues to delay compliance.
LTS Investment Fund and Lotus Global Investment, cited in a Hindenburg Research report on Adani Group, have approached the Securities Appellate Tribunal (SAT) for an extension until March 2025.
Sebi's rules aim to prevent round-tripping and increase transparency in the FPI market. Investors not complying face selling their excess holdings and registration invalidation. A decision from SAT is keenly awaited as it could influence market dynamics.
(With inputs from agencies.)
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