Brief Background: Sahamati rolled out its membership program for all regulated entities participating in the AA ecosystem.
Membership with Sahamati enables such entities to access the Inter-Member dispute resolution framework, which seeks to integrate ODR as the preferred means for resolution of disputes between members arising out of their participation in the AA ecosystem. You can find Sahamati’s Inter-Member Dispute Resolution Rules here.
Further, given the release of RBI’s Framework for recognising SRO-AAs, Sahamati is formally inviting applications for empanelment of ODR Institution, to provide online mediation and arbitration facilities for such inter-member disputes.
Sahamati members will consist of entities holding different license types, and spread across financial sector regulators (RBI, SEBI, IRDAI, PFRDA and DoR). Accordingly, we seek to empanel ODR institutions that are technically and organisationally equipped to provide time-bound and effective mediation and arbitration services. Such disputes could range from issues pertaining to members’ technical performance, adherence with Sahamati policies and codes of conduct, compliance with regulatory and legal requirements, including matters pertaining to the privacy compliances.
Sahamati is also collaborating with NISM to develop training/ certification modules which should be undertaken by all mediators and arbitrators on the panel of Sahamati’s empaneled ODR institutions to be eligible for appointment in inter-member disputes. Further details on this will be shared with interested applicants.
Empaneled ODR institutions will be required to adopt Sahamati’s mediation and arbitration rules as the procedural law to resolve such inter-member disputes. These will also be shared with interested applicants for their feedback, if any.
If you are interested to apply, please write to legal@sahamati.org.in expressing your interest to participate in the empanelment process, latest by Tuesday, April 15, 2025. As part of the empanelment process, we would be seeking the information and documents mentioned here. Upon review, we can work with you further on the formal empanelment agreement. If you have any questions or clarifications, please feel free to contact us at legal@sahamati.org.in.
