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

Online Resolution of Disputes in the Indian Securities Market

31-Jul-2023 | SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/131

SEBI has issued a circular regarding the Online Resolution of Disputes in the Indian Securities Market for harnesses online conciliation and online arbitration for the resolution of disputes arising in the Indian Securities Market by establishing a common Online Dispute Resolution Portal (ODR Portal).

The Highlights of the Cicular are:
1. Disputes between Investors/Clients and listed companies or any of the specified intermediaries / regulated entities in the securities market will be resolved in accordance with this circular and by harnessing online conciliation and/or online arbitration.
2. The Market Infrastructure Institutions (MIIs) will make joint efforts to develop and operationalize the ODR Platform and shall enter into an agreement amongst, outline the nature of their responsibilities, the cost of development, operation, upgradation, maintenance, and for inspection, and/or audit of the ODR Platform.
3. The ODR Portal shall have the necessary features and facilities to enroll the investor/client and the Market Participant, file the complaint/dispute, and upload any documents or papers pertaining thereto.
4. The role of a Concialitor shall be the sole independent and neutral conciliator from its panel of conciliators.
5. The ODR Institution shall appoint a sole independent and neutral arbitrator from its panel of arbitrators within 5 calendar days of reference, etc.

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