India's market regulator, in a new filing to the Supreme Court, defended a 2019 change in rules for reporting by offshore funds, saying the alteration did not make it tougher to identify ultimate beneficiaries of offshore funds.
The change in rules was cited as one factor by a Supreme Court-appointed committee that made it difficult for the Securities and Exchange Board of India to identify beneficiaries of offshore funds allegedly investing in companies of the Adani Group.
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