SEBI streamlines process for granting NOC for setting up Joint Ventures

Circular no. SEBI/HO/MIRSD/DoR/P/CIR/2022/61, Dated: 13.05.2022

In an endeavour to rationalize and streamline the process of application, the SEBI has issued guidelines for seeking NOC by Stock Brokers / Clearing Members for setting up WOS, Step down Subsidiaries, and Joint Ventures in GIFT IFSC. Accordingly, the format of application along with the list of supporting documents for seeking NOC has been prescribed. Further, the SEBI has directed Stock Exchanges/Clearing Corporations to forward the complete application to SEBI, after verification along with its recommendation.

Stock Brokers and Clearing Members shall apply through a Stock Exchange where the applicant is a member, along with the required information, documents and NOC received from all Stock Exchanges/Clearing Corporations/Depositories in which the applicant is a member/participant.

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