The Securities and Exchange Board of India on 23rd July 2021 has notified the framework to promote ease of doing business and bring uniformity in the timelines for processing of scheme-related applications filed by AMCs.
The application filed by AMCs for change in fundamental attributes of a scheme, merger/consolidation of scheme, rollover of close-ended scheme etc, may be deemed to be taken on record in case no modifications are suggested or no queries are raised by SEBI within 21 working days.
Further, No objection will have been deemed to be communicated in case no modifications are suggested or no queries are raised by Sebi within 21 working days”.
The Above framework shall be applicable for all the applications received on or after 1st September 2021.
