Securities and Exchange Board of India (“SEBI”) vide circular no. SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/131 dated July 31, 2023 (“Initial ODR Circular”) provided guidelines for online
resolution of disputes in the Indian securities market through establishment of a common Online
Dispute Resolution (“ODR”) Portal which harnesses online conciliation and online arbitration for
resolution of disputes arising between investors and listed companies or specified
intermediaries/regulated entities in the securities market.
SEBI vide circular no. SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/135 dated August 4, 2023 further
clarified that the investor shall first take up his/her/their grievance with the Market Participant
(Listed Companies/specified intermediaries/regulated entities) by lodging a complaint directly with
the concerned Market Participant. If the grievance is not redressed satisfactorily, the investor may,
escalate the same through the SCORES Portal. After exhausting the above options, if the investor
is not satisfied with the outcome, he/she/they can initiate dispute resolution through the ODR
Portal.
SEBI had earlier issued a Master Circular no. SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/145
consolidating the above-mentioned circulars, which was updated to incorporate amendments to
Initial ODR Circular, introduced vide circular no. SEBI/HO/OIAE/OIAE_IAD-3/P/CIR/2023/191
dated December 20, 2023. SEBI has issued an updated Master Circular no.
SEBI/HO/OIAE/OIAE_IAD-3/P/CIR/2023/195 to this effect. These SEBI circulars are available on
the website of SEBI and can also be accessed here:
Documents |
View |
Circular no. SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/131 dated July 31,
2023 titled ‘Online Resolution of Disputes in the Indian Securities Market’ |
|
Circular no. SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/135 dated August 4,
2023 titled ‘Corrigendum cum Amendment to Circular dated
July 31, 2023 on Online Resolution of Disputes in the Indian Securities
Market’ |
|
Circular no. SEBI/HO/OIAE/OIAE_IAD-3/P/CIR/2023/191 dated December
20, 2023 titled ‘Amendment to Circular dated July 31, 2023 on Online
Resolution of Disputes in the Indian Securities Market’ |
|
Master Circular no. SEBI/HO/OIAE/OIAE_IAD-3/P/CIR/2023/195 titled
‘Master Circular for Online Resolution of Disputes in the Indian Securities
Market’ |
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The SMART ODR Portal can be accessed at -
Click Here