It has been observed that certain entities, including fintech companies and stock brokers, are offering services in the nature of Online Bond Platform Providers (OBPPs) without obtaining
due registration from the Stock Exchanges as mandated in SEBI Circular No. SEBI/HO/DDHS/DDHSRACPOD1/P/CIR/2022/154 dated November 14, 2022. Such unregistered
platforms lack regulatory or supervisory oversight and do not provide for any mechanisms for
investor protection or grievance redressal. The activities undertaken by such unregistered online platforms may potentially be in violation of the Companies Act, 2013, the SEBI Act,
1992, and regulations frame thereunder. Investors are urged to exercise caution and avoid transacting
on unregistered online bond platforms. Investors should verify the registration status of the OBPPs prior to transacting, and deal only with SEBI-registered entities, in order to safeguard their interests.