India market regulator defends rule change on offshore investors

Adel Kalemcilik Ticaret ve Sanayi

10/07/2023 10:12

MUMBAI, July 10 (Reuters) - India's market regulator, in
a new filing to the Supreme Court, defended a 2019 change in
rules for reporting by offshore funds, saying the alteration did
not make it tougher to identify ultimate beneficiaries of
offshore funds.
    The change in rules was cited as one factor by a Supreme
Court-appointed committee that made it difficult for the
Securities and Exchange Board of India to identify beneficiaries
of offshore funds allegedly investing in companies of the Adani
Group.

 (Reporting By Arpan Chaturvedi in New Delhi and Jayshree P.
Upadhyay in Mumbai; Editing by Savio D'Souza)
 ((Ira.Dugal@thomsonreuters.com; +91-9833024892;))