The National Stock Exchange (NSE) on July 05, 2022 has issued a notification on Investor Grievance Redressal Mechanism and Amendment to SEBI Circular no. SEBI/HO/DMS/CIR/P/2017/15 dated February 23, 2017, in which SEBI has advised the Stock Exchanges to provide online web based complaint redressal system and to continue with the hybrid mode of conducting Grievance Redressal Committee (GRC) and Arbitration / Appellate meetings / hearings.
The following amendment has been made in the abovesaid circular:
Clause IJ(iii), which specifies Speeding up grievance redressal mechanism has been substituted, namely:
1.J. Speeding up grievance redressal mechanism
“(iii) A client, who has a claim / counter claim up to Rs.20 lakh (Rs. Twenty lakh) and files arbitration reference, will be exempted from payment of the fees specified in Clause 1.J.(i).”
[Circular Ref. No: 18/2022]
