Amendment to SEBI Circular SEBI/HO/DMS/CIR/P/2017/15 dated February 23, 2017 on Amendment pursuant to comprehensive review of Investor Grievance Redressal Mechanism

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..... dam, Sub: Amendment to SEBI Circular SEBI/HO/DMS/CIR/P/2017/15 dated February 23, 2017 on Amendment pursuant to comprehensive review of Investor Grievance Redressal Mechanism 1. SEBI issued a Circular SEBI/HO/DMS/CIR/P/2017/15 dated February 23, 2017 on Amendment pursuant to comprehensive review of Investor Grievance Redressal Mechanism. 2. Pursuant to representation received from the stock exc .....

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..... he arbitral award the stock exchange shall refund the deposit to the party in whose favour the award has been passed. (vi) The additional fees charged from the trading members, if the claim is filed beyond the timeline prescribed in column 3, (only for member), if any, to be deposited in the IPF of the respective Stock Exchange." C. Clause 2.E. is replaced as under: "2.E. Determination of le .....

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..... "2.F. Threshold limit for interim relief paid out of IPF in Stock Exchanges (iii) In case, order is in favour of client and the member opts for arbitration wherein the claim value admissible to the client is not more than ₹ 20 lakhs (Rs. Twenty lakhs), the following steps should be undertaken by the Stock Exchange: a) In case the GRC order is in favour of the client then 50% of the admi .....

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..... mentioned in the appellate arbitration award or ₹ 5.00 lakhs (Rs. Five Lakhs), whichever is less and the amount already released to the client at clause (a) and (b) above, shall be released to the client from IPF of the Stock Exchanges. d) Total amount released to the client through the facility of interim relief from IPF in terms of this Circular shall not exceed ₹ 10.00 lakhs (Ten .....

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