New Delhi: On Thursday, the Congress claimed a Joint Parliamentary Committee is needed to determine who weakened and then deleted the basic rule in this regard to benefit the Adani group. The Congress also requested that SEBI guarantee thorough disclosure of ownership of Foreign Portfolio Investors from retrospective effect.
The demands were made a day after the Securities and Exchange Board of India (SEBI), which regulates India's financial markets, recommended enforcing more information regarding the holding of high-risk Foreign Portfolio Investors (FPIs).
To help the Adani Group, Congress general secretary for communications Jairam Ramesh said that the market regulator is now looking to tighten the rule that it was "forced to dilute" in December 2018 and its removal in August 2019.—Inputs from Agencies