The Securities and Exchange Board of India (SEBI), on December 20, 2023, notified an amendment to the Online Resolution of Disputes in the Indian Securities Market.
The following has been stated-
I.In clause 2 of the circular, the words and brackets “(including institutional/corporate clients)” are added after the words “Investors/Clients”.
II.In Clause 3(b) of the circular, the words ‘independent institutional’ are added before the word ‘conciliation’ and the word ‘online’ as appears before the words ‘arbitration institution in India’ are substituted with the word ‘independent’.
III.Clause 5 of the circular shall include the following as a footnote to ‘ODR Portal’: URL - https://smartodr.in/login
IV.Clause 8 of the circular shall include the following after the end of the last line: “Entities that obtain registration from the Board as an intermediary or issuers that are getting their securities listed on or after the date of implementation of this circular, shall enrol in the ODR Portal immediately upon grant of registration or listing, as the case may be”.
[Notification No. SEBI/HO/OIAE/OIAE_IAD-3/P/CIR/2023/191 ]
