Under SEBI regulations, within what maximum timeframe following the closure of the financial year (March 31) must an AMC host the scheme-wise Annual Report on its website and email it to registered unitholders?

[ A ]Within 15 days of the financial year-end (by April 15)

[ B ]Within 12 months from the financial year-end (by the following March 31)

[ C ]Only once every 3 years during trustee reconstitution

[ D ]No later than four months from the date of closure of the relevant financial year (by July 31)[ CORRECT ]

Takeaway

Option D is correct: No later than four months from the date of closure of the relevant financial year (by July 31)

Derivation

SEBI regulations require that the scheme-wise Annual Report or an abridged summary must be hosted on the AMC and AMFI websites and emailed to all unitholders with registered email IDs no later than four (4) months from the date of closure of the financial year (i.e., by July 31 following the March 31 year-end). An advertisement must also be published in national English and Hindi newspapers. This question tests financial reporting deadlines. Candidates often confuse the 4-month annual report deadline with half-yearly 1-month reporting windows.

Why the others fail

A — Within 15 days of the financial year-end (by April 15)

15 days is too compressed for comprehensive statutory auditing and preparation of annual financial accounts.

B — Within 12 months from the financial year-end (by the following March 31)

12 months is excessively delayed; SEBI strictly enforces a 4-month statutory deadline for annual report dissemination.

C — Only once every 3 years during trustee reconstitution

Annual financial reporting is a mandatory yearly statutory compliance exercise, not a triennial occurrence.