The Securities and Exchange Board of India (“SEBI”), in the exercise of its powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 58(1) and Regulation 77 of SEBI (Mutual Funds) Regulations, 1996, vide Circular No. SEBI/HO/IMD/IMD-PoD-1/P/CIR/2025/38,[1] dated March 28, 2025, issued the extended timelines of submission of the offside inspection data for Mutual Funds. The provisions laid down hereunder shall come into effect immediately.
The key highlights of this circular are as follows:
- Clause 5.27.2 of the Master Circular for Mutual Funds dated June 27, 2024 (“Master Circular”), required Mutual Funds to submit daily data in a monthly file on a quarterly basis within 10 (ten) calendar days from the end of the quarter.
- Based on industry feedback and to facilitate ease of business, SEBI has extended the submission timeline to 15 (fifteen) calendar days from the end of the quarter. The Registrar and Transfer Agents (RTAs) shall submit the said data on an ongoing basis as per the revised framework.
- Accordingly, Clause 5.27.2 of Master for Mutual Funds stands modified.
[1]https://www.sebi.gov.in/legal/circulars/mar-2025/extension-of-timelines-for-submission-of-offsite-inspection-data_93100.html