Sebi cuts time period for filing settlement applications to 60 days

Now, the regulator has done away with the additional time provision of 120 days, according to a notification.

New Delhi: Markets regulator Sebi has cut the timeline for filing settlement applications to just 60 days from the current 180 days in its effort to make the system more efficient.

Currently, a settlement application can be filed within 60 days of the date of receipt of the show-cause notice. However, an additional 120 days can be availed by the applicants in case they pay an additional 25 per cent over the settlement charges.

Now, the regulator has done away with the additional time provision of 120 days, according to a notification.