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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

NSE- Corrigendum cum Amendment to Circular dated 31st July 2023 on Online Resolution of Disputes (ODR) in the Indian Securities Market- All Market Participants

04-Aug-2023 | Download Ref No: NSE/ISC/57870

NSE has reiterated a circular issued by SEBI dated 4th August 2023 with respect to the Amendment to Circular dated 31st July 2023 on Online Resolution of Disputes in the Indian Securities Market.

The highlights of the circular are:
1. Modifications have been made in Clause 8 that the facility to enrol Market Participants into the ODR Portal by utilizing the credentials used for the SEBI SCORES portal / SEBI Intermediary portal may be also provided in the ODR Portal. The word "Register" has been substituted with the word "Enrol".
2. Modifications have been made in Clause 11 that if the grievance is not redressed satisfactorily, the investor/client may escalate the same through the SCORES Portal in accordance with the process laid out therein. After exhausting these options for resolution of the grievance, if the investor/client is still not satisfied with the outcome, he/she/they can initiate dispute resolution through the ODR Portal. The word "all available options" has been substituted with the word "these options".
3. Modifications have been made in Clause 13, that the dispute resolution through the ODR Portal can be initiated when the complaint/dispute is not under consideration including when the moratorium under the Insolvency and Bankruptcy Code is in operation due to the insolvency process or if liquidation or winding up process has been commenced against the Market Participant has been included.
4. Modifications have been made in Clause 27 that the venue and seat of the online proceedings shall be deemed to be the place as given in the Corrigendum.
5. Modifications have been made in Clause 49 that the Market Participants are directed to bring the provisions of this Circular No. CIR/MIRSD/11/2013 dated 28th October 2013 related to the Disclosure of Investor Complaints on websites of Stock Exchanges, etc.

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