SEBI, vide its Circular No. CIR/CDMRD/DIECE/02/2015 dated November 16, 2015, mandated Investor Grievance Redressal System and Arbitration Mechanism to National Commodity Derivatives Exchanges (herein after referred to as Exchanges)and directed exchanges to comply with the provisions of circulars as issued by SEBI in this regard, with effect from April 01, 2016.
In order to further enhance the effectiveness of grievance redressal mechanism at Market Infrastructure Institutions (MIIs), based on the internal deliberations, discussions and feedback as received from MIIs, it has been decided to add/modify certain provisions in the aforesaid circular.
The said amendments have been notified vide Circular No.: CIR/CDMRD/DEICE/CIR/P/2017/77 dated 11th July, 2017. LINK