The common online dispute resolution portal (ODR), called the Smart ODR, has gone live on August 4, according to an exchange notice from the market regulator Sebi.
This is the regulator’s attempt to combine online conciliation and online arbitration for resolution of disputes in the securities market. As the first step, trading members (TM) and listed companies have been asked to enroll through a six-step procedure.
It was detailed in the circular issued by the Securities and Exchange Board of India (Sebi). The circular said that the existing dispute resolution mechanism will be streamlined under the aegis of stock exchanges and depositories, by expanding their scope and by establishing a common ODR Portal.
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As per the latest notice, TMs and companies are required to register on the ODR Portal, and said that Smar ODR could be accessed through the URL: https://smartodr.in/login.
To simplify the registration process, the notice elaborated on the procedure the members and companies are to follow. The six steps are given below.
Step 1) All Trading Members and Listed Companies shall receive an email from the SMART ODR Portal (no-reply@mailers.smartodr.in) for Account creation on SMART ODR Portal. The email shall contain the necessary procedure for account creation. This email shall be sent to the registered email ID of the Compliance Officer as available in the Exchange records. The Compliance Officer will be considered as the Primary Contact and his/her email ID will be considered the primary Email ID.
Step 2) The email shall also have a button which reads "Verify Email" which needs to be clicked on. After clicking on the link, you will be redirected to the SMART ODR Portal, where you will have to set a Password after accepting the terms and conditions of the portal.
Step 3) Upon accepting Terms and conditions and confirming the password, the account will be verified. An email with a link to the Terms and Conditions will be sent to the respective email ID's for this purpose.
Step 4) Post verification, the Primary Contact can then complete the login procedure on the SMART ODR Portal. Upon successful login after the 2 Factor Authentication [Password and OTP generated to email], the taskbar on the left-hand side of the portal will contain a profile icon alongside the name of the stakeholder and their respective organization.
Step 5) Clicking on it will open another page where User Management is visible. You can see all the users in your organization and can invite Users to your Organization by clicking Add User inside User Management. Once a user is invited, they will receive an email to verify their account. Only upon verification of their account will they get added as user.
Step 6) Trading Members and Listed Companies are hereby advised to complete the entire registration procedures within the timelines as prescribed in SEBI circular dated July 31, 2023, as per Clause 46 (b) and Clause 47 (a).
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