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Mauritius-based FPIs named in Hindenburg report challenge new SEBI norms | Mint

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LTS Investment Funds and Lotus Global Investment, two Mauritius-based foreign portfolio investors (FPIs), have filed a petition with the Securities Appellate Tribunal (SAT) seeking relief from complying with the new foreign investor norms set by the Securities and Exchange Board of India (SEBI). The FPIs argue that the regulations unfairly disadvantage their investors. The case is set to be heard next week, and the FPIs have requested an exemption and more time for compliance. The funds were both mentioned in a report by short seller Hindenburg Research on the Adani Group.