Mumbai, April 23 -- Legal and market experts warn against the unintended consequences of the market regulator's proposal to tweak the framework for Online Resolution of Disputes (ODR) in the Indian securities market.

In a 21 April consultation paper, the Securities and Exchange Board of India (Sebi) proposed overhauling how securities market disputes are resolved, promising faster timelines, stricter accountability, and direct arbitration.

Sebi has proposed to extend the ODR portal, which previously applied to market infrastructure institutions (MIIs) such as stock exchanges and clearing corporations, to depositories.

If the proposal goes through, the regulator has asked the MIIS to jointly develop a standard operating procedure (Sop) ...