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    <title>Arbitration Mechanism in Stock Exchanges</title>
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    <description>Clients with claims or counterclaims up to the prescribed small-claim threshold who file an arbitration reference shall be exempt from the deposit; related expenses will be borne by the stock exchanges. Stock exchanges must amend bye-laws immediately, notify members and publish the change, report implementation to SEBI in Monthly Development Reports, and will be subject to SEBI inspection for compliance; the circular is effective immediately under SEBI&#039;s regulatory powers.</description>
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