PIL Filed Against “Mutual Funds Sahi Hai” Ads

A PIL filed in Bombay High Court to direct SEBI to revoke permissions granted to the mutual fund body Association of Mutual Funds in India (AMFI) to do ads on mutual funds. Petitioner alleged that AMFI is ‘recklessly propagating that mutual funds are right without any basis or rationale’. These ads only emphatically endorse and opine that mutual funds are right (sahi hai), petitioner said.