Investor Charter
Mission
- To provide transparent, equitable and reliable markets with timely and accurate information dissemination for investors.
- To provide the highest standards of investor education, investor awareness and investor protection and timely services.
Vision
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To provide a safe, equitable, transparent and trusted platform for investors to participate across asset classes with highest standards of integrity for investors.
The exchange facilitates various products for investors to participate across asset classes viz Equity, Commodities, Derivatives, Debt, Mutual Funds, Government securities etc. Read more...
Exchange provides various services to investors electronically through its online platform and physically through the dedicated Investor Service Centers (ISC) set for this purpose.
- Mode of filing the complaints
Complaints can be lodged on the Exchange in the following ways
(i) Through SCORES 2.0 (a web based centralized grievance redressal system of SEBI) [https://scores.sebi.gov.in]
Two Level Review:
a. First review done by Exchange
b. Second review done by SEBI
(ii) Emails to designated email IDs of Exchange: Click here
(iii) Through SMARTODR (https://smartodr.in/login) dedicated for the filing of complaint.
2. Regarding documents required for complaint resolution, please Click here
3. Process flow for Complaint Resolution Process through Scores 2.0
<<refer to Schedule III of the SEBI Circular dated September 20, 2023>>
Online Dispute Resolution (ODR)
| 1 | Online Dispute Resolution (ODR) platform for online Conciliation and Arbitration | If the Investor is not satisfied with the resolution provided by the Market Participants, then the Investor has the option to file the complaint/ grievance on SMARTODR platform for its resolution through online conciliation or arbitration. [SMARTODR] |
| 2 | Steps to be followed in ODR for Review, Conciliation and Arbitration |
1. Investor to approach Market Participant for redressal of complaint 2. If investor is not satisfied with response of Market Participant, he/she has either of the following 2 options: May escalate the complaint on SEBI SCORES portal. (In this scenario the above steps shall prevail) 3. Upon receipt of complaint on SMARTODR portal, the relevant MII will review the matter and endeavour to resolve the matter between the Market Participant and investor within 21 days. 4.If the matter could not be amicably resolved, then to the matter shall be referred for conciliation. 5. During the conciliation process, the conciliator will endeavour for amicable settlement of the dispute within 21 days, which may be extended with 10 days by the conciliator with consent of the parties to dispute. 6. If the conciliation is unsuccessful, then the investor may request to refer the matter for arbitration. 7. The arbitration process to be concluded by arbitrator(s) within 30 days, which is extendable by 30 days with consent of the parties to dispute. 8. If the parties are not satisfied with the arbitration award, option to file u/s 34 of Arbitration and Conciliation Act, 1996. |
- When a TMs defaults, the Exchange carries out the following steps for benefit of investor:
- Dissemination on Exchange website with regard to the default of the TM.
- Issue of Public Notice informing declaration of default by a TM and inviting claims within specified period.
- Intimation to clients of defaulter TMs via Emails and SMS for facilitating lodging of claims within specified period.
- Following information made available on Exchange Website for information of Investors:
- Norms for eligibility of claims for compensation from IPF.
- FAQ on processing of investors’ claims against defaulter TM.
- Form for lodging claim against defaulter Broker
- Standard Operating Procedure (SOP) for handling of Claims of Investors in the Cases of default by TMs
- Provision to check online status of claims on Exchange Website.
- Claim processing policy against Defaulter/Expelled TMs.
- List of Defaulter/Expelled TMs and public notice issued.
- Standard Operating Procedure (SOP) for Handling of Claims of Investors in the Cases of Default by Stock Brokers
| Sr. No. | Action | Timeline |
|---|---|---|
|
|
Disablement of the TM | T day |
|
|
Information to investors about disablement of the TM on website and through SMS and email | T+1 day |
|
|
Pre-filled forms to be sent to clients providing information regarding balances with the TM (only in case of SOP trigger) | T+15 days |
|
|
Claim lodgement Clients to fill the claim form and provide the supporting documents |
T+ 75 days |
|
|
Declaration of Default by the TM | T+120 days |
|
|
Information to investors about default of TM on website, through SMS, email and newspapers. | Within 3 working days from the date of declaration of defaulter |
|
|
Processing ,auditing and settlement of claims |
Within 60 days of receipt of the claim form from the clients post declaration of default and T+135 days where prefilled forms are received. |
| 8. | Request for review of the claim by client | Within 90 days of receipt of intimation of the decision of the IPFT from the stock exchange |
| 9. | Processing, auditing, and settlement of review claims | Within 60 days of receipt of review application. |
| 10. | Request for 2nd review of the claim by client | Within 90 days of receipt of intimation of the decision of the IPFT from the stock exchange |
| 11. | Processing, auditing, and settlement of review claims | Within 60 days of receipt of review application. |
Updated on: 31/05/2024
