Key Points
The Congress on Thursday demanded that the Securities and Exchange Board of India (SEBI) should ensure complete disclosure of ownership of Foreign Portfolio Investors from retrospective effect arguing that the rules were eased in 2018 to benefit the Adani group..
There were strict requirements to identify the ultimate beneficial owners of foreign funds in the share market previously..
As a result, SEBI has no information about where the Rs 20,000 crore came from in the Adani-linked shell companies, Congress communication head Jairam Ramesh told reporters...
The SC committee constituted on the Adani issue has also said that the abolition of rules has resulted in SEBIs failure to properly investigate the allegations against Adani..
The real question, he said, is who is the owner of the Rs 20,000 crore that have been invested via shell companies in the Adani group..
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