Under the current rule, an FPI applicant cannot be a Non-resident Indian (NRI) or OCI. However, NRIs or OCIs or Resident Indian individuals (RIIs) can be constituents of the applicant after meeting the conditions specified by Sebi
The letter written to the Securities and Exchange Board of India (SEBI)'s Chairman, Madhabi Puri Buch, reads, "This letter is in reference to my earlier letter dated 3rd February, 2023, regarding alleged irregularities by the Adani Group."
Outgoing Sebi chief Ajay Tyagi on Wednesday said the capital markets regulator acted as per its remit and understanding on the NSE case, and denied any "dilution" of orders in the matter. Get more India News and Business News on Zee Business.