Sebi firms 'corporate group' definition amid offshore funds scrutiny

Currently, SEBI considers related parties as part of a corporate group

SEBI did not respond to a Reuters email seeking comment.

India's market regulator will consider a listed company's major shareholders, affiliates and connected entities as part of a 'corporate group' as it increases scrutiny of investments by offshore funds in domestic entities, according to a written communication reviewed by Reuters.

This communication was sent by stock exchanges on behalf of the regulator - the Securities and Exchange Board of India (SEBI) - to companies earlier this week and has not been previously reported.

Currently, SEBI considers related parties as part of a corporate group. The expanded definition includes all subsidiaries, affiliate companies and related parties disclosed in annual reports or a company's website, the communication said.

SEBI did not respond to a Reuters email seeking comment.