All Recognized Stock Exchanges (including Commodity Derivatives) — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

To, All Recognized Stock Exchanges (including Commodity Derivatives) All Clearing Corporations All Depositories All Stock Brokers All Depository Participants All Listed Companies All SEBI Registered Intermediaries / All SEBI Regulated Entities Sir / Madam, Subject: Master Circular for Online Resolution of Disputes in the Indian Securities Market After extensive public consultations and in furtherance of the interests of investors and consequent to the gazette notification (dated July 3, 2023) of the SEBI (Alternative Dispute Resolution Mechanism) (Amendment) Regulations, 2023 the existing dispute resolution mechanism in the Indian securities market is being streamlined under the aegis of Stock Exchanges and Depositories (collectively referred to as Market Infrastructure Institutions (MIIs)), 1 by expanding their scope and by establishing a common Online Dispute Resolution Portal ("ODR Portal") which harnesses online conciliation and online arbitration for resolution of disputes arising in the Indian Securities Market. 1 presently excluding Clearing Corporations and its constituents MASTER CIRCULAR FOR ONLINE DISPUTE RESOLUTION (Updated as on August 11, 2023) SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/145 July 31, 2023 (Updated as on August 4, 2023) Investors and Listed Companies/Specified Intermediaries/Regulated entities under the ambit of ODR Disputes between Investors/Clients and listed companies (including their registrar and share transfer agents) or any of the specified intermediaries / regulated entities in securities market (as specified in Schedule A) arising out of latter's activities in the securities market, will be resolved in accordance with this circular and by harnessing online conciliation and/or online arbitration as specified in this circular. Listed companie