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

Processing of Draft Letter of Offer filed under SEBI (SAST) Regulations, 2011

Comments on the draft letter of offer

Within 15 working days of the receipt of the draft letter of offer or Within 5 working days from the date of receipt of satisfactory reply to the clarification or additional information, if any sought by SEBI.

Processing of the Draft Scheme of Arrangement

Comments on the Draft Scheme of Arrangement to the Stock Exchanges

Within 30 days from the later of the following:

i. Date of receipt of ‘No-Objection’ letter from the Stock Exchanges

ii. Date of receipt of satisfactory reply on clarifications, if any sought by SEBI

iii.Date of receipt of opinion from Independent Chartered Accountant, if sought by SEBI

Application for relaxation under Securities Contracts (Regulation) Rules,1957

Processing of Application for relaxation under clause (b) to sub-rule (2) of rule 19 of the Securities Contracts (Regulation) Rules, 1957

Within 30 days from the date of receipt of complete information, including in-principle approval for listing of equity shares of the company or no-objection certificate from the Stock Exchange(s).

- 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

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