The apex transparency panel also asked the market watchdog to decide the matter within two months after holding consultations with the government officials as well, besides taking a view point of FIIs in this regard.
"Sebi can examine the matter closely in terms of extant practices, consult all or a section of stake-holders, examine international practices, and obtain views of top functionaries in the field and in government before formulating response in the matter," Information Commissioner A N Tiwari said.
The Commission's directions came on an appeal of Abhishek Chowdhury against the decision of Sebi denying information on the yearly net investment figures in March 2005, 2006 and 2007 by each FII. Following a hearing on the matter, the Commission noted that Sebi had not examined the issue in details with due consultation with other parties.
"It is also not clear whether Sebi has examined the practices prevalent in other countries about disclosing such information about FIIs," Tiwari said, adding, "nothing had been stated as to how disclosure of this information would be injurious to the economy of India."
BS Reporter adds:
Consequent to increasing FII investment limit in debt securities, Sebi on Friday notified that the enhanced limits shall be allocated among FIIs on a "first come first serve" basis. It will be subjected to a ceiling of $200 million per registered entity.
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Earlier, while reviewing the external commercial borrowing policy, government had increased the cumulative debt investment limit in government securities from $3.2 billion to $5 billion.
The investment limit in corporate debt was raised from $1.5 billion to $3 billion.