TMI BlogAmendment to SEBI Circular SEBI/HO/DMS/CIR/P/2017/15 dated February 23, 2017 on Amendment pursuant to comprehensive review of Investor Grievance Redressal MechanismX X X X Extracts X X X X X X X X Extracts X X X X ..... / Depositories Sir/ Madam, 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 repres ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... scribed in column 3, (only for member), on issue of the 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. Cla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aim of the balance amount. D. Clause 2.F. is modified as under: 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 Exchang ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... side the appellate arbitration award, then a positive difference of, 75% of the amount 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 in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cts (Regulation) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market and shall come into effect immediately. All other provisions of the relevant circulars will continue to be in force. (iv) This circular is available on SEBI website at www.sebi.gov.in. Yours faithfully, Nirdosh Rajan Minz Deputy G ..... X X X X Extracts X X X X X X X X Extracts X X X X
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