Jindal Saw, others settle matter; dispute resolution platform from April

Jindal Saw, others settle matter with Sebi for Rs 1.2 crore

Jindal Saw, Prithavi Raj Jindal and three others have settled a matter with the Securities and Exchange Board of India (Sebi) for a cumu­lative amount of over Rs 1.2 crore. The matter pertains to alleged violation in disclosure of share­holding pattern and delay in filing certain reports under listing norms and prevention of insider trading norms. Sebi had issued the show cause notice in the matter in Febr­u­ary 2022. All the ent­ities filed for the settlement in Dece­mber last year. The High Powe­red Advisory Committee recomme­nded the settlement amount. BS REPORTER

Now, new dispute resolution platform from April 2024
 

The Securities and Exchange Board of India (Sebi) has exte­nded the timeline for implem­enting online dispute resolution (ODR) platform to April 2024. Earlier, the framework for monitoring and handling of investor complaints by the designated bodies was to come into effect from December 4, 2023. The market regulator had issued the details about the frame­work for handling investor grievances received via SCORES (Sebi Complaint Redressal) by entities and its linkage to ODR in a circular in September. 

Sebi had said that the complaint against the entity will be simultaneously forwarded through SCORES to the relevant designated bodies. The designated body will ensure that the action taken report is submitted within 21 days. BS Reporter