Supreme Court Denies Full Disclosure of AIFs and FPIs Without Legal Framework
The Supreme Court refused to order full public disclosure of the ultimate beneficiaries of Alternative Investment Funds (AIFs) and Foreign Portfolio Investors (FPIs) citing the absence of a legal framework. The court questioned why a Member of Parliament filed a public interest petition under Article 32 instead of raising the issue in Parliament. The petition highlighted transparency concerns amid rapid growth of AIFs and FPIs.
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