The Supreme Court on Friday refused to entertain a petition alleging that popular advertisement campaigns such as “Mutual Funds Sahi Hai” create a misleading impression of assured financial safety for investors.

A bench of Justices Vikram Nath and Sandeep Mehta was hearing a challenge to a September order of the Bombay High Court, which had dismissed a public interest litigation seeking curbs on investor awareness campaigns run by the Association of Mutual Funds in India (AMFI).

The PIL had sought directions to the Securities and Exchange Board of India (SEBI) to revoke the liberty granted to AMFI to conduct investor education and awareness programmes. The petitioner had also urged the court to restrain AMFI from continuing campaigns titled “Mutual Funds Sahi Hai”, “Mutual Funds Mein SIP

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