**Summary:**
This circular, reference number SEBI/HO/IMD/IMD-PoD-1/P/CIR/2025/38, issued by the Securities and Exchange Board of India (SEBI) on March 28, 2025, addresses the extension of timelines for the submission of offsite inspection data by Mutual Funds (MFs). The circular is directed to all Mutual Funds, Asset Management Companies (AMCs), Trustee Companies, Boards of Trustees of Mutual Funds, the Association of Mutual Funds in India (AMFI), and Registrars to an Issue and Share Transfer Agents (RTAs).
The key change introduced by this circular modifies Clause 5.27.2 of the Master Circular for Mutual Funds dated June 27, 2024. Previously, Mutual Funds were required to submit daily data in a monthly file, according to specified formats, on a quarterly basis within 10 calendar days from the end of the quarter. This circular extends that deadline to 15 calendar days from the end of the quarter. RTAs are still expected to submit the specified data on an ongoing basis.
This extension is based on feedback received from the industry and aims to facilitate ease of doing business. The provisions of this circular are effective immediately.
The circular is issued under the authority of Section 11(1) of the Securities and Exchange Board of India Act, 1992, and Regulations 58(1) and 77 of the SEBI Mutual Funds Regulations, 1996, with the objective of protecting investor interests and promoting the development and regulation of the securities market.
The circular is available on the SEBI website under the "Legal Circulars" section. For further information, contact Peter Mardi, Deputy General Manager, at 91 22 26449233 or peterm@sebi.gov.in.
Key Entities Referenced
Securities and Exchange Board of India: Regulatory body issuing the circular.
Mutual Funds: Entities regulated by the circular.
Asset Management Companies: Entities regulated by the circular.
Association of Mutual Funds in India: Industry association related to Mutual Funds.
Registrars to an Issue and Share Transfer Agent: Entities involved in share transfer and regulated by the circular.
Master Circular for Mutual Funds: Document referred to for specifying timelines for data submission.
Securities and Exchange Board of India Act, 1992: Law under which the circular is issued.
SEBI Mutual Funds Regulations, 1996: Regulations under which the circular is issued.
CIRCULAR
SEBI/HO/IMD/IMD-PoD-1/P/CIR/2025/38 March 28, 2025
To All,
Mutual Funds (MFs)/
Asset Management Companies (AMCs)/
Trustee Companies/ Board of Trustees of Mutual Funds/
Association of Mutual Funds in India (AMFI)/
Registrars to an Issue and Share Transfer Agent (RTAs)
Madam/ Sir,
Sub: Extension of timelines for submission of offsite inspection data
1. Clause 5.27.2 of the Master Circular for Mutual Funds dated June 27, 2024
inter alia specifies that, for offsite inspection, Mutual Funds shall submit the
daily data in a monthly file as per the specified format on a quarterly basis
within 10 calendar days from the end of the quarter.
2. Based on the feedback received from the industry and to facilitate ease of
doing business, it has been decided to extend the timelines for submission of
offsite inspection data. Accordingly, Clause 5.27.2 of Master Circular for
Mutual Funds dated June 27, 2024 stands modified as under:
“Mutual Funds shall submit the daily data in monthly file as per the specified
formats on quarterly basis within 15 calendar days from end of the quarter.
RTAs shall submit the said data on an ongoing basis.”
3. The provisions of this circular shall come into force with immediate effect.
4. This circular is issued in exercise of the powers conferred under Section
11(1) of the Securities and Exchange Board of India Act, 1992 read with
Regulation 58(1) and 77 of SEBI (Mutual Funds) Regulations, 1996, to
protect the interest of investors in securities and to promote the development
of, and to regulate the securities market.
Page 1 of 25. This circular is available at www.sebi.gov.in under the link “Legal -
>Circulars”.
Yours faithfully,
Peter Mardi
Deputy General Manager
+91-22-26449233
peterm@sebi.gov.in
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