(a) whether SEBI has recently proposed to formulate an `Ombudsman Scheme` for redressal
of investors grievances;
(b) if so, the details thereof;
(c) whether it is proposed to set up `Ombudsman` at all Stock Exchanges including Regional
Stock Exchanges; and
(d) if so, the details thereof?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI ANANDRAO VITHOBA ADSUL):
(a) Yes, Sir.
(b) The SEBI (Ombudsman) Regulations, 2003 have been notified on 21st August,2003 to
provide for the establishment of the office of the Ombudsman to redress the grievances of the
investors against the intermediaries and the listed companies by mutual agreement or by
award on adjudication.
(c) and (d) The Mechanism of arbitration prevalent in the stock exchanges for the purpose
of resolving disputes between members of the stock exchanges or between a member and an
investor shall continue to be in force and the same shall not be substituted with the
office of Ombudsman.