Defaulting clients :

As per the SEBI circular no. SEBI/HO/DMS/CIR/P/2017/15 dated February 23, 2017, the Stock Exchanges are directed to create a common database of defaulting clients accessible to Members across the Stock Exchanges.

A client may be identified as defaulter if the client does not pay the award amount to the member/depository participant as directed in the IGRP/Arbitration /Appellate arbitration order as well as does not appeal at the next level of redressal mechanism within the timelines as prescribed by SEBI or file an application to court to set aside such order in accordance with Section 34 of the Arbitration and Conciliation Act, 1996 (in case of aggrieved by arbitration/ appellate award).

The Exchange as defined above has created a common database regarding the defaulting clients across Exchanges and the same is made available as below: