Time Line Benchmarks for Activities Involving Public Interface

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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

- IMD-RAC-1

Activities Timelines

Change in fundamental attributes of a scheme
21 days from the date of correspondence giving satisfactory replies to the clarifications sought.

Merger/Consolidation of schemes
21 days from the date of correspondence giving satisfactory replies to the clarifications sought.

Rollover of close-ended scheme
21 days from the date of correspondence giving satisfactory replies to the clarifications sought.

Conversion of close-ended scheme to open ended scheme
21 days from the date of correspondence giving satisfactory replies to the clarifications sought.

Applications under Regulation 24(b)
21 days from the date of correspondence giving satisfactory replies to the clarifications sought.

Observation on offer documents
21 days from the date of correspondence giving satisfactory replies to the clarifications sought.

*Days referred above implies working days

Activities	Timelines
Change in fundamental attributes of a scheme	21 days from the date of correspondence giving satisfactory replies to the clarifications sought.
Merger/Consolidation of schemes	21 days from the date of correspondence giving satisfactory replies to the clarifications sought.
Rollover of close-ended scheme	21 days from the date of correspondence giving satisfactory replies to the clarifications sought.
Conversion of close-ended scheme to open ended scheme	21 days from the date of correspondence giving satisfactory replies to the clarifications sought.
Applications under Regulation 24(b)	21 days from the date of correspondence giving satisfactory replies to the clarifications sought.
Observation on offer documents	21 days from the date of correspondence giving satisfactory replies to the clarifications sought.
	*Days referred above implies working days

Market Intermediaries Regulation and Supervision Department

Activities Timelines

A. Fresh registration of Intermediaries

Stock brokers.

Depository participants.

RTA/STA.

Approved intermediary under Stock Lending Scheme.

KYC (Know Your Client) Registration Agency (KRA).
30 days.

B. Cancellation/surrender of registration.

Stock brokers.

Depository participants.

RTA/STA.

Approved intermediary under Stock Lending Scheme.

KYC (Know Your Client) Registration Agency (KRA).
30 days.

C. Prior approval for change in control of intermediary.

Stock brokers

Depository participants

RTA/STA

Approved intermediary under Stock Lending Scheme

KYC (Know Your Client) Registration Agency (KRA).
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

Activities Timelines

Introduction of new derivative contracts on notified commodities
30 days

Approval for introduction/re-introduction of scrips in derivative segments
30 days

Renewal of the contract launch calendar of an existing contract as well as examining modification requests of an existing contract.
15 days

Approvals to the appointment/ re-appointment of directors and Chairperson to the board of relevant MIIs
15 days

Approval of Bye laws received from MIIs.
30 days

Registration/renewal/cancellation/surrender of existing Market Infrastructure Institution (MII) or any new MII/ alternative trading segment/ venue and registration of Vault Managers
30 days

Office of Investor Assistance and Education

Activities Timelines

Fresh registration
Investors associations - 21 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

Activities	Timelines
A. Fresh registration of Intermediaries Stock brokers. Depository participants. RTA/STA. Approved intermediary under Stock Lending Scheme. KYC (Know Your Client) Registration Agency (KRA).	30 days.
B. Cancellation/surrender of registration. Stock brokers. Depository participants. RTA/STA. Approved intermediary under Stock Lending Scheme. KYC (Know Your Client) Registration Agency (KRA).	30 days.
C. Prior approval for change in control of intermediary. Stock brokers Depository participants RTA/STA Approved intermediary under Stock Lending Scheme KYC (Know Your Client) Registration Agency (KRA).	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.

Activities	Timelines
Introduction of new derivative contracts on notified commodities	30 days
Approval for introduction/re-introduction of scrips in derivative segments	30 days
Renewal of the contract launch calendar of an existing contract as well as examining modification requests of an existing contract.	15 days
Approvals to the appointment/ re-appointment of directors and Chairperson to the board of relevant MIIs	15 days
Approval of Bye laws received from MIIs.	30 days
Registration/renewal/cancellation/surrender of existing Market Infrastructure Institution (MII) or any new MII/ alternative trading segment/ venue and registration of Vault Managers	30 days

Activities	Timelines
Fresh registration	Investors associations - 21 days
Processing of payments to investor associations	21 days
Renewal of registraion/ cancellation	Investors associations - 21 days

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

Time Line Benchmarks for Activities Involving Public Interface 

Corporation Finance Department

- Division of Corporate Restructuring

- Division of Issues and Listing

Investment Management Department

- IMD-RAC-1

Market Intermediaries Regulation and Supervision Department

Market Regulation Department

Office of Investor Assistance and Education

All Divisions

Time Line Benchmarks for Activities Involving Public Interface

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