Supreme Court Declines Plea Against 'Mutual Funds Sahi Hai' Ads

The Supreme Court refused to hear a petition challenging 'mutual funds sahi hai' advertisements, alleged to mislead investors with false assurances. The plea, dismissed by the Bombay High Court due to a lack of evidence, sought restrictions on AMFI's investor campaigns.

The Supreme Court on Friday declined to hear a petition against the 'mutual funds sahi hai' advertisement campaign, alleged to mislead investors with false promises of financial security. A bench comprising Justices Vikram Nath and Sandeep Mehta found no grounds to challenge the earlier decision of the Bombay High Court.

The petitioner argued that the advertisements did not adequately inform investors about the inherent risks of mutual fund investments and sought a directive for the Securities and Exchange Board of India (SEBI) to revoke AMFI's liberty to promote such campaigns. However, the high court had already dismissed this plea due to insufficient evidence.

The petitioner, representing himself, expressed discontent with the high court's earlier ruling, describing it as hasty. However, the Supreme Court maintained that without substantive data indicating how investors are misled, the case could not proceed. The court suggested the petitioner should let others decide for themselves.

(With inputs from agencies.)