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TMI BlogAmendment to SEBI Circulars pertaining to Investor Grievance Redressal System and Arbitration MechanismX X X X Extracts X X X X X X X X Extracts X X X X ..... t to SEBI Circulars pertaining to Investor Grievance Redressal System and Arbitration Mechanism 1. Attention is drawn to SEBI circulars bearing reference nos. CIR/CDMRD/DEICE/CIR/P/2017/77 dated July 11, 2017 and CIR/CDMRD/DCE/CIR/P/2018/48 dated March 14, 2018 on Investor Grievance Redressal System and Arbitration Mechanism. 2. In order to further enhance the effectiveness of Investor Grievanc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bers of arbitration panel are not considered for constituting the appellate arbitration panel if the matter goes to appeal." 2.2. Clause 2.A (viii) and Clause 2.A (xi) (iii) of the aforesaid Circular shall be substituted with the following: a. 2.A (viii). Place of arbitration / appellate arbitration "In case, the award amount is more than ₹ 50 lakhs (Rs. Fifty lakhs), the next level of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from IPF of the Stock Exchange. b) In case the arbitration award is in favour of the client and the member opts for appellate arbitration, then a positive difference of, 50% of the amount mentioned in the arbitration award or ₹ 3.00 lakhs (Rs. Three lakhs), whichever is less, and the amount already released to the client at clause (a) above, shall be released to the client from IPF of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wing shall be inserted at the end of Clause 2 (ii) of the aforesaid Circular: 2 (ii). Speeding up grievance redressal mechanism "The additional fees charged from the trading members, if the claim is filed beyond the prescribed timeline, if any, to be deposited in the IPF of the respective Stock Exchange." 3. The provisions of this circular shall come into effect from January 1, 2022. 4. The ..... X X X X Extracts X X X X X X X X Extracts X X X X
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