SEBI has issued a user manual for the Settlement Helpdesk Facility to assist applicants and prospective applicants in understanding the procedural requirements for filing settlement applications and related matters.
The facility is intended to provide informal, facilitative support to persons seeking the settlement of specified proceedings under the applicable SEBI framework.
1. Objective of the Settlement Helpdesk Facility
The primary objective of the Settlement Helpdesk Facility is to help applicants understand and comply with the procedural requirements relating to settlement applications.
The facility aims to provide guidance on the process to be followed while filing settlement applications and addressing related procedural aspects.
2. Persons Eligible to Avail the Facility
The helpdesk service may be availed by:
- Any person proposing to seek settlement of specified proceedings; or
- Their duly authorised representative.
This enables both applicants and prospective applicants to seek assistance before or during the settlement application process.
3. Nature of Assistance Provided
SEBI has clarified that the assistance provided through the Helpdesk is:
- Informal;
- Non-binding; and
- Facilitative in nature.
Such assistance is intended only to help applicants understand the procedural aspects of settlement applications.
4. Assistance Not to Be Treated as Legal or Regulatory Advice
The user manual clarifies that any assistance provided through the Helpdesk shall not be treated as:
- Legal advice;
- Regulatory advice;
- Assurance;
- Confirmation;
- Interpretation; or
- Opinion of SEBI or any of its officers.
The Helpdesk response will not restrict or prejudice SEBI’s powers under any Act, rules, regulations, circulars, directions or applicable law.
5. Scope of Helpdesk Assistance
The Settlement Helpdesk Facility will provide assistance in relation to:
- Filing of settlement applications;
- Computation of the Indicative Amount in accordance with the Settlement Regulations; and
- Status of pending settlement applications.
6. Procedure for Seeking Assistance
Any person seeking assistance is required to submit a request along with the details prescribed in the relevant form.
The request must be sent to the dedicated email ID:
7. Timeline for Response
SEBI has provided that requests submitted to the Helpdesk will be responded to within 5 working days.
The response will be sent to the contact details provided by the requestor.
8. No Right or Defence Created by Helpdesk Response
SEBI has further clarified that no guidance, clarification, computation, communication or response issued by the Helpdesk shall create any:
- Right;
- Benefit;
- Expectation;
- Estoppel;
- Legitimate reliance; or
- Defence
in favour of any person.
9. Objective of the User Manual
The user manual seeks to:
- Provide clarity on the operation of the Settlement Helpdesk Facility;
- Assist applicants in understanding settlement-related procedures;
- Facilitate correct filing of settlement applications;
- Support computation-related queries; and
- Ensure that applicants understand the non-binding nature of Helpdesk assistance.
10. Key Takeaway
SEBI has issued a user manual for the Settlement Helpdesk Facility to assist applicants and prospective applicants in filing settlement applications, computing the Indicative Amount and checking the status of pending applications. The assistance provided through the Helpdesk is purely informal, non-binding and facilitative, and does not constitute legal or regulatory advice or create any right, expectation or defence in favour of the applicant.
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