The Securities Exchange Board of India issued a circular regarding the amendment of the Investor Grievance Redressal Mechanism.
As per the circular, any dispute between the member and the client relating to or arising out of the transactions in Stock Exchange, which is of civil nature, the complainant/ member shall first refer the complaint to the IGRC and/ or to arbitration mechanism provided by the Stock Exchange before resorting to other remedies available under any other law.
Stock Exchanges and Depositories are advised to make necessary amendments to the relevant bye-laws, rules and regulations and operational instructions.
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For further information, please contact:
Vineet Aneja, Partner, Clasis Law
vineet.aneja@clasislaw.com
