Time Line Benchmarks for Activities Involving Public Interface

Note: In the timelines indicated below days mean 'working days' except as otherwise stated. The counting of days would start from the day next to the day when the complete information/documents are submitted by the entity at the appropriate office of SEBI . Time taken by external agencies like stock exchanges depositories, RBI etc. where reference is required to be made to them is not included in the timeline indicated

Corporation Finance Department

- Division of Corporate Restructuring

Activities Timelines

Disposal of a report submitted u/r 3(4)

20 days

Disposal of an application made u/r 4 (2)

60 days

Examination of Complaints on alleged violations

20 days

Observations on the offer documents.

21 days from the date of filing with SEBI

- Division of Issues and Listing

Activities Timelines

Listing related issues ( Preferential offers, exemption from Rule 19(2)(b) etc)

21 days from the date of letter giving satisfactory replies to the clarifications sought.

Observations on the offer documents.

30 days from the date of receipt of such draft offer document or 15 days from the date of receipt of satisfactory reply to the additional clarifications sought by SEBI, from the merchant banker(s).
Investment Management Department

- Division of Collective Investment Schemes

Activities Timelines

Fresh registration

21 Days.

Observations on the offer documents.

21 days

Renewal of registration/ cancellation.

21 Days.

- Division of Foreign Institutional Investors and Custodian

Activities Timelines

Fresh registration - Sub-Accounts

3 days

Renewal of registration - FIIs

5 days

FIPB Proposals

3-5 working days

Fresh registration - FIIs

7 days

Government Correspondence

4 working days

Renewal of registration - Sub-Accounts

3 days

- Division of Funds 1(Portfolio Managers, Venture Capital, Corporate Bonds, etc.) 2 (Mutual Funds: Policy and Inspections) and 3 (Mutual Funds: Registration of Mutual Fund, Operations and Investor complaints)

Activities Timelines

Applications for foreign securities / ADRs/GDRs

7 days

Approval for Trustees of Mutual Funds

7days

Change in controlling interest / conversion from close ended to open ended schemes 

21 days

Fresh registration

21 days

Observations on the offer documents.

21 Days.
Market Intermediaries Regulation and Supervision Department
Activities Timelines

A. Fresh registration of Intermediaries

    Stock brokers.

    Sub-brokers.

    Depository participants.

    Merchant bankers.

    RTI/STA.

    Credit rating agencies.

    Bankers to and Issue.

    Debenture Trustees.

    Approved intermediary under Stock Lending Scheme.

30 days.

B. Cancellation/surrender of registration.

    Stock brokers.

    Sub-brokers. 

    Depository participants.

    Merchant bankers.

    RTI/STA.

    Credit rating agencies.

     Bankers to and Issue.

     Debenture Trustees.

     Approved intermediary under Stock Lending Scheme.

30 days.

C. Prior approval for change in control of intermediary.

    Stock brokers

    Depository participants

    Merchant bankers

    RTI/STA

    Credit rating agencies

    Bankers to and Issue

    Debenture Trustees

    Approved intermediary under Stock Lending Scheme

30 days.

Application to SEBI for opening of Wholly Owned Subsidiaries or Entering into Joint Ventures in other countries

30 days.

Investor grievances

The investor grievances received by SEBI against intermediaries will be taken up electronically with the concerned entity/SRO through SCORES (https://scores.gov.in/Admin). The intermediary shall be responsible for taking adequate steps for redressal of grievances within one month from the date of receipt of the complaint and keep the investor/SRO(s) duly informed of the action taken thereon. Failure to comply with the said requirement will render the intermediary liable for penal action.

Market Regulation Department

- Division of SRO Administration

Activities Timelines

Fresh registration of depository/depository participants/custodians.

30 days

Renewal of registration/ cancellation thro surrender of depository/depository participants/custodians

30 days
Office of Investor Assistance and Education
Activities Timelines

Fresh registration

Investors associations - 21 days

Processing of applications for release of 1% deposit from stock exchanges

15 days

Processing of payments to investor associations

21 days

Renewal of registraion/ cancellation

Investors associations - 21 days
All Divisions
Activities Timelines
Investor Complaints. Investor complaints which are redressable and fall within the jurisdiction of SEBI would be taken up by SEBI within 7 days and followed up vigorously. The complaints which relate to matters falling within the juirisdiction of SEBI should only be taken up with SEBI at the appropriate offices of SEBI as given in the Contact Us