Photo of Dhruv Chhajed

Dhruv Chhajed

Associate in the Dispute Resolution Practice at the Mumbai office of Cyril Amarchand Mangaldas. Dhruv focusses on commercial arbitration, litigation, and securities disputes. He can be reached at dhruv.chhajed@cyrilshroff.com

Summary: This article highlights the Bombay High Court’s reaffirmation of limited appellate review for temporary injunctions. For litigants, this means a clearer understanding of the narrow grounds for appeal, fostering more strategic and efficient approaches to dispute resolution involving interim reliefs.Continue Reading Full Bench of Bombay High Court Clarifies Scope of Appellate Review of Temporary Injunction Orders

Background

  • SEBI recently notified the SEBI (Alternative Dispute Resolution Mechanism) (Amendment) Regulations, 2023, and issued a Master Circular for Online Resolution of Disputes in the Indian Securities Market (‘ODR Master Circular’), extending the conciliation and arbitration mechanism administered by Market Infrastructure Intermediaries (‘MII’) to all specified intermediaries/ regulated entities. Prior to this, MII’s dispute resolution mechanism only covered stock-brokers, depository participants, listed companies and registrars and transfer agents. Investors embroiled in disputes with any other intermediary did not have recourse to this mechanism, but the ODR Master Circular extends it to other intermediaries to streamline the dispute resolution process. Further, the erstwhile system was largely physical, with some online adaptations brought about during the COVID-19 pandemic. As a progressive measure and in line with the recommendations of the committee constituted by the Niti Aayog under Justice Sikri, the dispute resolution process will now be online.

Continue Reading Resolving Securities Disputes in the Digital Age: A Primer on SEBI’s Master Circular for Online Resolution of Disputes in the Indian Securities Market