SMART ODR

Online Dispute Resolution (‘ODR’) Portal

The Securities and Exchange Board of India (“SEBI”) vide circular no. SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/131 dated July 31, 2023 (“Initial ODR Circular”) laid down guidelines for the online resolution of disputes in the Indian securities market through establishment of a common Online Dispute Resolution (“ODR”) Portal which harnesses online conciliation and online arbitration for resolution of disputes arising between investors and listed companies or specified intermediaries/regulated entities in the securities market. 

SEBI, vide its circular no. SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/135 dated August 04, 2023, clarified that the investor shall first take up his/her/their grievance with the Market Participant (Listed Companies/specified intermediaries/regulated entities) by lodging a complaint directly with the concerned Market Participant. If the grievance is not redressed satisfactorily, the investor may, escalate the same through the SCORES portal. After exhausting the above options, if the investor is not satisfied with the outcome, he/she/they can initiate dispute resolution through the ODR Portal. 

SEBI had earlier issued Master Circular No. SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/145 consolidating the aforesaid circulars. The said Master Circular was subsequently updated to incorporate amendments to the Initial ODR Circular, as introduced vide Circular No. SEBI/HO/OIAE/OIAE_IAD-3/P/CIR/2023/191 dated December 20, 2023. In this regard, SEBI has now issued an updated Master Circular no. SEBI/HO/OIAE/OIAE_IAD-3/P/CIR/2023/195 to this effect. 

The SMART ODR Portal (Securities Market Approach for Resolution through ODR Portal) can be accessed via following link-

SMARTODR

The above mentioned SEBI Circulars can be accessed here: -