BENGALURU -- India's stock market regulator on Wednesday proposed stricter scrutiny of offshore funds that hold large stakes in local companies, a move aimed at unraveling the opaque ownership structures of conglomerates in the wake of Adani Group's troubles.
The Securities and Exchange Board of India (SEBI) said in a consultation paper that it has identified "high-risk" offshore funds that have invested more than half of their assets in a single entity as well as those that own more than 250 billion rupees ($3.02 billion) in Indian stocks.
