Adani probe: Who owns India’s firms? Time to find out
India’s stock-market watchdog seems to be on an urgent mission to rescue its credibility. A controversial, new proposal to track foreign money to its source is bound to run into resistance from vested interests. But without such powers, the regulator can never claaim to run a clean market.
A panel appointed by the Supreme Court recently stopped short of returning a finding of regulatory failure against the Securities and Exchange Board of India. But the committee’s characterisation of the Sebi’s ongoing probe into the country’s largest infrastructure behemoth as “a journey without a destination” wasn’t exactly a vote of confidence, either.
