SEBI Update - Amendment to Circular dated July 31, 2023 on Online Resolution of Disputes in the Indian Securities Market

Clauses Online Resolution of Disputes in the Indian Securities Market Amendment to Circular dated July 31, 2023 on Online Resolution of Disputes in the Indian Securities Market Comments Clause 2 Disputes between Investors/Clients and listed companies (including their registrar and share transfer agents) or any of the specified intermediaries / regulated entities in securities market (as specified in Schedule A) arising out of latter’s activities in the securities market, will be resolved in accordance with this circular and by harnessing online conciliation and/or online arbitration as specified in this circular. Listed companies / specified intermediaries / regulated entities OR their clients/investors (or holders on account of nominations or transmission being given effect to) may also refer any unresolved issue of any service requests / service related complaints2 for due resolution by harnessing online conciliation and/or online arbitration as specified in this circular Disputes between Investors/Clients “(including institutional/corporate clients)” and listed companies (including their registrar and share transfer agents) or any of the specified intermediaries / regulated entities in securities market (as specified in Schedule A) arising out of latter’s activities in the securities market, will be resolved in accordance with this circular and by harnessing online conciliation and/or online arbitration as specified in this circular. Listed companies / specified intermediaries / regulated entities OR their clients/investors (or holders on account of nominations or transmission being given effect to) may also refer any unresolved issue of any service requests / service related complaints2 for due resolution by harnessing online conciliation and/or online arbitration as specified in this circular The words and brackets “(including institutional/corporate clients)” are added after the words “Investors/Clients”. Clause 3(b) by harnessing any independent institutional mediation, conciliation and/or online arbitration institution in India. by harnessing any independent institutional mediation, independent institutional, conciliation and/or independent arbitration institution in India. The words ‘independent institutional’ are added before the word ‘conciliation’ and the word ‘online’ as appears before the words ‘arbitration institution in India’ is substituted with the word ‘independent’ Clause 3(b) “The seat and venue of mediation, conciliation and/or arb