Presently, solely a restricted class of entities, together with listed firms and intermediaries, are eligible to request steering below the scheme.
By way of rationalization of charges, Sebi proposed to extend the price for candidates submitting below the IG scheme from the present Rs 25,000 to Rs 75,000.
Additional, if the appliance for casual steering is rejected, a processing price of Rs. 5,000 can be deducted and the price can be refunded to the applicant. It is strongly recommended to extend it to Rs 15,000.
It’s also proposed to change the IG scheme to supply a nodal coordination unit with a centralized electronic mail deal with to obtain purposes solely via on-line means. model and monitor the processing of purposes. On the consumer interface, the regulator urged that candidates ought to have as much as 15 days to reply to Sebi’s request for clarification, failing which the appliance could also be rejected by the division. As much as 15 days could also be along with the general 60-day timetable for responding to an software. Sebi proposes to make it necessary for departments to make use of electronic mail as a mode of communication to hunt clarification from candidates.
The Securities and Change Board of India (Sebi) has invited public feedback on the proposals till September 15.
