In a move aimed at ensuring wider participation and deeper stakeholder engagement, the Securities and Exchange Board of India (SEBI) has announced an extension in the deadline for submitting comments on its crucial consultation paper titled “Comprehensive Review of SEBI (Mutual Funds) Regulations, 1996.” This update, issued on November 19, 2025, reflects SEBI’s commitment to inclusive and transparent policy making in one of India’s most important investment sectors.
Background: A Major Regulatory Overhaul in the Making
SEBI released the consultation paper on October 28, 2025, with the objective of undertaking a thorough and forward-looking review of the two-decade-old SEBI (Mutual Funds) Regulations, 1996. Over the years, India’s mutual fund industry has grown exponentially—in scale, complexity, investor participation, and technological adoption. As a result, SEBI’s regulatory framework must evolve to address emerging risks, streamline operations, and enhance investor protection.
The consultation paper seeks feedback on a wide range of proposed reforms, including operational processes, governance structures, disclosures, risk management, investor communication, and the roles and responsibilities of market intermediaries.
Extension of the Public Comment Timeline
Initially, the deadline for submitting comments was November 17, 2025. However, following multiple representations received from stakeholders, SEBI has decided to extend the submission window by an additional week. This extension acknowledges the depth and breadth of the consultation paper and gives stakeholders more time to provide meaningful feedback.
The new deadline for submitting comments is now:
➡️ November 24, 2025
This extension is particularly beneficial for Asset Management Companies (AMCs), distributors, industry associations, investor groups, academics, and compliance professionals who require more time to analyse the proposed changes and articulate informed responses.
How to Submit Your Comments
SEBI has made the submission process simple and accessible. All comments and suggestions should be submitted on or before November 24, 2025, using the official link provided below:
🔗 SEBI Public Comment Portal
(Accessible via SEBI’s website under the public comments section)
In case of any technical issues while submitting comments through the online portal, stakeholders may reach out directly to SEBI officials:
- Mr. Peter Mardi – Deputy General Manager
✉️ peterm@sebi.gov.in - Ms. Gopika Jayan – Manager
✉️ gopikaj@sebi.gov.in
Emails should contain the subject line:
“Consultation paper on comprehensive review of SEBI (Mutual Funds) Regulations, 1996.”
Why Your Feedback Matters
The mutual fund industry serves millions of investors and plays a pivotal role in channelizing household savings into the capital markets. An effective regulatory framework must reflect the concerns, innovations, and experiences of all industry participants. By engaging in the consultation process, stakeholders can directly influence policy decisions that shape the future of India’s investment ecosystem.
SEBI’s decision to extend the deadline underscores its dedication to ensuring that the revised regulations are comprehensive, balanced, and future-ready.
As India moves toward a more robust and transparent financial system, this consultation process represents a significant opportunity for stakeholders to contribute thoughtfully to the evolution of the mutual fund regulatory landscape.