Security deposit lien for investment advisers secures payment of dues arising from online dispute resolution awards and proceedings. The amendment requires the statutory deposit of investment advisers to be maintained in such form or manner as specified by the Board and to be marked as a lien in favour of a body corporate recognised by the Board for administration and supervision. The deposit shall be available for utilisation if the investment adviser fails to pay dues arising from arbitration and conciliation proceedings under the Online Dispute Resolution Mechanism or any other mechanism specified by the Board.
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Provisions expressly mentioned in the judgment/order text.
Security deposit lien for investment advisers secures payment of dues arising from online dispute resolution awards and proceedings.
The amendment requires the statutory deposit of investment advisers to be maintained in such form or manner as specified by the Board and to be marked as a lien in favour of a body corporate recognised by the Board for administration and supervision. The deposit shall be available for utilisation if the investment adviser fails to pay dues arising from arbitration and conciliation proceedings under the Online Dispute Resolution Mechanism or any other mechanism specified by the Board.
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