New Delhi, Oct. 30 -- The Supreme Court on Thursday dismissed a petition filed by Trinamool Congress (TMC) lawmaker Mahua Moitra questioning the opacity of beneficial owners of portfolio funds having a market capitalisation of over Rs.90 lakh crore.

The court said that its order will not come in the way of the Centre or the Securities Exchange Board of India (SEBI) from framing a policy as there is presently no legal or regulatory framework mandating public disclosure of beneficial owners of Alternate Investment Fund (AIF) and Foreign Portfolio Investments (FPI).

A bench headed by justice BV Nagarathna said, "We find that in exercise of our powers under Article 32 of the Constitution, such a prayer cannot be granted as the framework for...