Litigation & Regulatory Representation
Securities Exchange Board of India (SEBI)
Legal advisory and representation for SEBI compliance, regulatory proceedings, notices, investigations, and securities-market matters.
- Estimate Cost
- ₹1,00,000 – ₹10,00,000
- Typical duration
- 60 days
Service overview
- Legal advisory and representation in matters regulated by the Securities and Exchange Board of India (SEBI).
- Assistance relating to:
- Securities-market compliance.
- Regulatory notices and communications.
- SEBI investigations.
- Regulatory proceedings.
- Disclosure requirements.
- Other matters arising under applicable securities laws and SEBI regulations.
Who needs it? / When is it needed?
- Listed companies.
- Public and private companies involved in securities-market activities.
- Promoters and directors.
- Investors.
- Securities-market intermediaries.
- Brokers.
- Merchant bankers.
- Investment advisers.
- Portfolio managers.
- Mutual funds.
- Alternative Investment Funds (AIFs).
- Other SEBI-regulated or market-facing entities.
- Particularly relevant when regulatory advice, compliance assistance, or representation is required before:
- SEBI.
- SEBI authorities.
- Other relevant regulatory or statutory authorities.
What to expect from the WCP Professionals
WCP professionals support you with:
- Review of the facts and circumstances of the matter.
- Assessment of the applicable SEBI regulatory framework.
- Identification of compliance obligations.
- Identification and assessment of regulatory risks.
- Examination of SEBI notices, orders, and communications.
- Legal and regulatory research.
- Preparation of responses and legal representations.
- Assistance with regulatory submissions.
- Investigation-related support.
- Strategic guidance during regulatory proceedings.
Key deliverables
Deliverables cover:
- SEBI regulatory applicability assessment.
- Compliance review.
- Regulatory-risk analysis.
- Responses to SEBI notices.
- Legal representation.
- Written submissions.
- Replies and rejoinders.
- Supporting documentation.
- Investigation-response strategy.
- Compliance-remediation guidance.
- Assistance with follow-up communications.
- Assistance during regulatory proceedings.
Standard turnaround time
Turnaround time depends on:
- The nature and urgency of the matter.
- Complexity of the regulatory issue.
- Volume of records and documents.
- Applicable response deadline.
- Extent of any SEBI investigation or proceedings.
- Availability of relevant information from you.
- Matters involving statutory or regulatory deadlines will be prioritised according to the applicable timeline.
Government fees, timelines & key outcomes
- Government
- Regulatory Fees
- Any applicable statutory, filing, application, processing, settlement, or other regulatory charges depend on the specific SEBI process.
- Such charges are separate from professional fees.
- Timelines
- Timelines vary depending on:
- Applicable SEBI regulations.
- The relevant notice or order.
- Prescribed response period.
- Filing requirements.
- Hearing schedules.
- Directions issued by SEBI or the competent authority.
- Key Outcomes
- Submission of a compliant regulatory response.
- Resolution of identified compliance issues.
- Effective handling of regulatory proceedings.
- Obtaining regulatory clarification, where applicable.
- Settlement of proceedings where legally available.
- Obtaining other relief, directions, or orders from the competent authority, as applicable.
Forms & filings involved
Depending on the nature of the matter, filings may include:
- Regulatory applications.
- Replies to Show-Cause Notices (SCNs).
- Written submissions.
- Legal representations.
- Declarations and undertakings.
- Disclosure filings.
- Compliance reports.
- Settlement-related submissions.
- Applications before SEBI authorities.
- Other forms and filings prescribed under applicable SEBI regulations, circulars, and master circulars.
Documents required
- SEBI notices and orders.
- SEBI communications and correspondence.
- Previous correspondence with SEBI.
- Registration or licence documents.
- Corporate records.
- Financial statements.
- Securities and transaction records.
- Disclosure documents.
- Board and shareholder resolutions.
- Compliance policies and procedures.
- Internal reports.
- Agreements and transaction documents.
- Regulatory filings.
- Investigation-related documents.
- Any other records relevant to the specific matter.
What we need from you
- Complete details of the entity or individual involved.
- Details of the relevant securities-market activity.
- Complete factual background of the matter.
- Copies of all SEBI notices, orders, and communications.
- Previous submissions made to SEBI or other authorities.
- Relevant regulatory filings.
- Securities and transaction records.
- Internal compliance documents.
- Details of responsible personnel.
- Applicable statutory or regulatory deadlines.
- Clear instructions regarding the desired outcome.
Important conditions
Applicable regulatory requirements depend on:
- The nature of the entity.
- The securities-market activity involved.
- The transaction.
- Registration status.
- The market role of the entity or individual.
- The specific facts and circumstances of the matter.
- SEBI regulations, circulars, master circulars, directions, and compliance requirements may be amended from time to time.
- The regulatory framework applicable on the relevant date must therefore be verified before taking action or making any submission.
- SEBI's regulatory framework includes regulations and circulars governing areas such as:
- Listing obligations.
- Alternative Investment Funds (AIFs).
- Securities-market intermediaries.
- Securities-market operations.
- Other regulated activities and market participants.
Additional information
SEBI matters may involve both:
- Preventive compliance advisory.
- Reactive assistance following a notice, inspection, investigation, or regulatory proceeding.
- The scope of assistance may include:
- Regulatory research.
- Compliance-gap assessment.
- Response drafting.
- Investigation support.
- Hearing preparation.
- Legal representation.
- Settlement-related assistance, where applicable.
- Implementation of corrective measures.
- The precise scope, procedure, timelines, and available remedies depend on:
- The applicable SEBI regulatory framework.
- The nature of the matter.
- The facts and circumstances.
- The stage of the regulatory proceeding.
- The directions or requirements of the competent authority.
The estimated cost covers indicative professional fees only. Government fees, stamp duty and taxes are payable at actuals.
How it works
- 1. Raise a service enquiry describing your requirement.
- 2. A Relationship Manager reviews it and opens it for bidding.
- 3. Pay into escrow and assign the professional you select.
- 4. Track progress to completion, then accept and release payment.
Frequently asked questions
How should a SEBI show-cause notice be answered?
With a full written reply backed by documents, after seeking inspection of the material relied on, within the time allowed.
Can SEBI proceedings be settled?
Many can, under the Settlement Proceedings Regulations, 2018, though serious violations such as fraud may be excluded.
Where are SEBI orders appealed?
To the Securities Appellate Tribunal within 45 days, and then to the Supreme Court.
What is insider trading?
Trading in a listed company's securities while in possession of unpublished price-sensitive information, prohibited under SEBI's PIT Regulations.