Mumbai: The Securities and Exchange Board of India (Sebi) on Friday intensified its scrutiny of foreign portfolio investors (FPIs) from Asian countries in the wake of fears that Chinese investors could be investing in India's blue-chip stocks at cheap valuations through indirect routes.
Last evening, Sebi sent its third communication of the week to custodians, seeking details of FPIs which have beneficiaries in Mongolia, Pakistan, Bhutan, Nepal, Afghanistan, Bangladesh, Myanmar, Taiwan, North Korea, Yemen and Iran.
Mint has reviewed the letter. "It is possible that some investment originating in China could be invested in India through some of these countries.