Two Mauritius-based foreign portfolio investors (FPIs) have filed appeals with the Securities Appellate Tribunal (SAT) seeking relief on the September 9 deadline to liquidate holdings beyond the specified thresholds by the Securities and Exchange Board of India (Sebi).
According to the information on the tribunal's website, Lotus Global Investment and LTS Investment Funds filed two separate pleas with it on August 20.
The matter is likely to be heard on Tuesday, according to legal sources. Incidentally, both these funds were flagged as suspicious by short-seller Hindenburg Research in its report against the Adani group.
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IT stocks suffer biggest one-day fall in six weeks
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