Section 17 in Securities And Exchange Board Of India (Ombudsman) Regulations, 2003
17. Award on adjudication.-
(1)In the event the matter is not resolved by mutually acceptable agreement within a period of one month of the receipt of the complaint or such extended period as may be permitted by the Ombudsman, he shall, based upon the material placed before him and after giving opportunity of being heard to the parties, give his award in writing or pass any other directions or orders as he may consider appropriate.(2)The award on adjudication shall be made by Ombudsman within a period of three months from the date of the filing of the complaint.Provided that no award shall be invalidated by reason alone of the fact that the award was made beyond the said period of three months.(3)The Ombudsman shall send his award to the parties to the adjudication to perform their obligations under the award.
