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of <h1>Ombudsman Resolves Securities Grievances via Mediation Under Regulation 16, 2003; Facilitates Amicable Settlements Within One Month.</h1> Regulation 16 of the Securities and Exchange Board of India (Ombudsman) Regulations, 2003, outlines the procedure for resolving grievances through mutual agreement. Upon receiving a complaint, the Ombudsman sends a notice and a copy of the complaint to the concerned listed company or intermediary. The Ombudsman then seeks to facilitate a settlement through agreement or mediation. If an amicable settlement is reached, the Ombudsman issues an award reflecting the agreement within one month and instructs the parties to fulfill their obligations as per the award. The Ombudsman has the discretion to adopt any procedure deemed appropriate to promote settlement.
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