Under SEBI regulations, within what maximum timeframe must an Asset Management Company redress an investor grievance received directly or through the SEBI Complaint Redress System (SCORES)?

[ A ]Within 90 business days of filing

[ B ]Within 180 calendar days of annual audit completion

[ C ]Not later than 21 calendar days from the date of receipt of the grievance[ CORRECT ]

[ D ]Within 24 hours of verbal notification

Takeaway

Option C is correct: Not later than 21 calendar days from the date of receipt of the grievance

Derivation

Under SEBI regulations governing investor protection and complaint handling, an Asset Management Company is legally required to resolve and redress all investor grievances promptly, but not later than twenty-one (21) calendar days from the date of receipt of the grievance. Complaints can be tracked online via SEBI's centralized web-based portal, SCORES. This question tests the statutory turnaround time for grievance resolution. The primary trap is confusing 21 calendar days with older historical 30-day norms or business days.

Why the others fail

A — Within 90 business days of filing

90 business days is excessively delayed; SEBI enforces strict investor protection with a 21 calendar day resolution deadline.

B — Within 180 calendar days of annual audit completion

180 calendar days is completely out of compliance with SEBI's mandated 21-day timeline for grievance redressal.

D — Within 24 hours of verbal notification

24 hours is an operational impossibility for comprehensive investigation; the statutory mandate is 21 calendar days.