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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Investor Protection Fund interim relief updated, exchanges to release phased payments and permit arbitration venue shifts. Amendments allow arbitration venue shifts to a metro at a party's request with costs borne by the requester; require exchanges to refund deposits to parties favoured by awards when claims are filed beyond prescribed timelines and to transfer additional late-filing fees from trading members to the IPF; mandate defaulter-member claims be sanctioned by the Member Core Settlement Guarantee Fund Committee and sent to the IPF Trust for disbursement; and prescribe staged interim relief releases from the IPF with an annual cap, while preserving investors' right to seek external fora for balance claims.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Investor Protection Fund interim relief updated, exchanges to release phased payments and permit arbitration venue shifts.
Amendments allow arbitration venue shifts to a metro at a party's request with costs borne by the requester; require exchanges to refund deposits to parties favoured by awards when claims are filed beyond prescribed timelines and to transfer additional late-filing fees from trading members to the IPF; mandate defaulter-member claims be sanctioned by the Member Core Settlement Guarantee Fund Committee and sent to the IPF Trust for disbursement; and prescribe staged interim relief releases from the IPF with an annual cap, while preserving investors' right to seek external fora for balance claims.
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