New Delhi, Aug. 10 -- A new standard operating procedure has set the framework for slashing the longdrawn procedural drift involved in securing regulatory approvals for mergers and demergers, creating much-needed predictability for dealmakers. Yet, the toughest hurdles remain untouched.

The SOP rolled out by the National Stock Exchange of India Ltd and BSE Ltd, effective 1 August, promises a seven-working-day processing window for merger and demerger applications if all the documents are in order. Until now, the processing window typically stretched for 3-5 months.

The framework, which has been mandated by the Securities and Exchange Board of India, also scraps physical paperwork, requiring only digital filings through platforms such as...