Investor Grievance Redressal Mechanism-SEBI SCORES, NSE, BSE, NSDL, CDSL

AMIT GUPTA (Trainer)
MS Finance, MMS Finance(NIT), MBA Project Mgmt., CFP, CCRA™, CWM®, CIRA®, BE(Govt. College)
SEBI Empaneled Securities Markets Trainer,

NISM Empaneled CPE Trainer(for MFD, Equity Derivatives, RRA)
Experience: Total 16+ years
Ex-Employee: ICICI Securities, ISE Ltd, FTIL, UTI Sec., Indiabulls Sec.
Email: analystamit@gmail.com, amitgupta@iCapitalindia.com
Mobile & WhatsApp: +91-9004459173 / 9967813782
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47
Investor
Grievance
Redressal
Mechanism in
Securities Market
DISCLAIMER
 The information contained in this material is for only educational and awareness
purposes related to securities market and shall be used for non-profitable educational
and awareness activities for general public.
 No part of this material can be reproduced or copied in any form or by any means or
reproduced on any disc, tape, perforate media or other information storage device, etc.
without acknowledging the SEBI or Stock Exchanges or Depositories.
 SEBI or Stock Exchanges or Depositories shall not be responsible for any damage or
loss to any one of any manner, from use of this material.
 Every effort has been made to avoid errors or omissions in this material. For recent
market developments and initiatives, readers are requested to refer to recent laws,
guidelines, directives framed thereunder and other relevant documents, as being
declared from time to time. For any suggestions or feedback, you may send the same
to visitsebi@sebi.gov.in.
2
Flow of Presentation
 SEBI Complaints Redress System (SCORES)
 Investor Grievance Redressal at:

- NSE
- BSE Ltd.
- NSDL
- CDSL
5
- This presentation may be used with the permission of SEBI and only for non-profit awareness
programs.
SEBI Complaints
Redress System
(SCORES)
6
programs.
SEBI COmplaints REdress System (SCORES)
 SCORES platform: https://scores.gov.in
 Online platform for investors to lodge their complaints

related to securities market.
 Complaints against listed companies and

SEBI registered intermediaries
 Status of every complaint:

- Can be viewed online in the SCORES website
- Can be obtained from toll free helpline
 Entity/Investor can seek/provide clarification on

complaint online
 Unique complaint registration number for future

reference and tracking.
 Allpresentation
- This complaints mayreceived bythe
be used with SEBI against
permission listed
of SEBI and companies and
only for non-profit SEBI registered
awareness
7
intermediaries are dealt through SCORES.

programs.
Complaints coming under the purview of SEBI
Complaints arising out of issues that are covered

under:
Securities
SEBI Act Contract
Regulation Act,
Rules and
regulation made
there under and
Depositories relevant
Act provisions of
Companies Act,
2013.
8
programs.
Matters not considered as complaints in SCORES
 Complaint not pertaining to investment in securities market
 Anonymous Complaints (except whistleblower complaints)
 Incomplete or un-specific complaints
 Allegations without supporting documents
 Suggestions or seeking guidance/explanation
 Not satisfied with trading price of the shares of the companies
 Non-listing of shares of private offer
 Disputes arising out of private agreement with
companies/intermediaries
 Matter involving fake/forged documents
 Complaints on matters not in SEBI purview
 Complaints about any unregistered/ un-regulated activity
9
programs.
Complaints against companies that cannot be dealt on
SCORES
Companies placed
Unlisted/delisted on Dissemination
Board of Stock Sick companies
companies
Exchange
Suspended Company falling

companies, under the purview of
companies under Vanishing company
other regulatory
liquidation, etc. bodies
Company where a
moratorium order is
Complaints that are passed in winding up
sub-judice / insolvency
proceedings
10
programs.
Lodging complaint in SCORES
 Lodge a complaint on SCORES within three (03) years from the date
of cause of complaint.
Fail to lodge a complaint within Stipulated Time?
Take up the complaint with the Approach appropriate Court of

OR Law
entity concerned
11
programs.
Lodging complaint in SCORES
 Investor may lodge complaint on SCORES within three

(03)
years from date of cause of complaint, where;
- Investor has approached listed company or registered
intermediary for redressal of complaint and,
- Concerned listed company or registered intermediary rejected

the
complaint or,
- Complainant hasn’t received any communication from listed company or

intermediary concerned or,
- Complainant is not satisfied with reply given to him or redressal action

taken by the listed company or an intermediary.
12
programs.
Mandatory information required
 For lodging a complaint in SCORES, following personal information has to be

mandatorily provided by investors/complainants:
E-mail
Name Address
Address
Mobile
PA
Number
N
13
programs.
How to lodge complaint online in SCORES?
Register on
Visit SEBI SCORES before
SCORES website. lodging a
complaint.
SCORES Website Homepage SCORES Complaint Registration Form
14
programs.
Complaint Details
Select correct
Provide your complaint category,
entity name and
complaint details. nature of
complaint.
PDF document (up

to a maximum
Provide complaint
size of 2 MB) can
details in brief
also be attached
(up to 1000
along with
characters).
complaint as
supporting
document.
15
programs.
16
programs.
How are investor complaints handled? –
Existing (Effective from August 01, 2018)
Have you taken up your grievances with the Company/
intermediary for resolution?
YES NO
New User: Register here Redirected to complaint lodging screen on

Registered User: Login SCORES.
here System shall enable the complaint to directly approach the
entity
Submission of the complaint
(without intervention of SEBI officer) by using SCORES
platform. Submission of the
complaint.
Complaint lands in Inbox Complaint shall land directly with the entity
of SEBI dealing officer concerned.
Entity is required to submit details of redressal within 30

days.
Submitted
Not Submitted
System shall request the complainant to confirm within 15 days

whether he isComplaint
satisfied with resolution
closed. of the complaint. Complaint shall land in the inbox of SEBI
No further
Satisfied/ No Response Action dealing officer just like a regular complaint.
17
programs. Not Satisfied
Disposing of Investor Complaints
Scenarios when SEBI disposes off complaints
On of
On failure by
satisfactory
receipt
investor/complainant
the
taken report along action
with When the
to give
supporting documents, concerned entity’s
details/documents
complete
if any, case is
required for redressal
concerned with other
pending
of their
responsible from judicial authority.
court/
within the prescribed
complaint
resolving
time.
complaint.
the
entity
18
for with the permission of SEBI and only for non-profit awareness
- This presentation may be used
programs.
Entity Status in SCORES Website
Entity Status:
 Available in entity status tab

in SCORES Website.
 Gives information regarding

listed companies, SEBI
registered intermediaries,
CIS, etc.
19
programs.
SEBI SCORES
App
Facilitate Investor to
lodging of first register
investor on App to
grievances lodge
with complaints.
SEBI.
Can be
Enables
accessed at
investors to
the
track status of
convenience
the complaint
of a
redressal.
smartphone.
20
programs.
SEBI SCORES
App
SCORES APP login page SCORES Home page
21
programs.
SEBI SCORES
App
Register Complaint page Register Complaint page
22
programs.
SEBI Toll Free Helpline
 SEBI Toll Free Helpline Numbers:

1800 266 7575
1800 22 7575
 Operational hours: 9:00 a.m. to 6:00 p.m.

[except public holidays declared in the state of Maharashtra]
 Languages: 8
[English, Hindi, Bengali, Gujarati, Marathi, Kannada, Telugu and Tamil]
 Objective: Facilitating replies to various queries of general public on

matters
relating to securities market
23
programs.
Regulators/Authorities for grievances not dealt by
SEBI
Regulators/ Authorities Grievances pertaining to
Reserve Bank of India - Banks deposits and banking products

(RBI)/ Banking - Fixed Deposits and other matters with Non-Banking
Ombudsman Financial Companies (NBFCs)
- Primary Dealers
Ministry of Corporate - Deposits u/s 73 & 74 of Companies Act, 2013
Affairs(MCA) - Unlisted companies
- Mismanagement of companies, financial performance of
the company, Annual General Meeting, etc.
- Nidhi Companies
- Companies struck off from RoC
- Vanishing Company.
- All matters as delegated under overriding powers under
Companies Act 2013
- Sick companies or a company where a moratorium
order
is passed in winding up
- Companies under liquidation
24
programs.
Regulators/Authorities for grievances not dealt by
SEBI
Regulators/ Authorities Grievances pertaining to
Insurance Regulatory and Development - Insurance Companies / Brokers /

Authority of India (IRDAI) Agents/ Products and Service
Pension Fund Regulatory and - Pension funds

Development Authority (PFRDA)
Competition Commission of India (CCI) - Monopoly and anti-competitive practices
National Housing Bank (NHB) - Housing Finance Companies
Insolvency and Bankruptcy Board of India - Companies where insolvency

proceedings has started
Respective Stock Exchange - Complaints against suspended

companies
25
programs.
Investor Grievance
Redressal - NSE
26
programs.
Investor Grievance Redressal (NSE)
Have a Dispute?
Immediately question your TM about any transaction that you do not
understand or you did not authorize your trading member.
Not satisfied with your trading member’s response  Contact firm’s

branch manager or customer care.
Any dispute with trading member  Complain in writing to trading

member.
Retain copies of your letter and all related correspondence done with
trading member.
Complaint not addressed/ redressed by the trading member 

File complaint with NSE
27
programs.
 Investor complaints against trading member and listed
companies
Investor Appeal
Services Arbitration
Court of
Cell Mechanism law u/s 34
 Complaints can be filed by Investor via:
- Online portal of the Exchange: www.nseindia.com

- SCORES portal of SEBI
- Email
- Physical letter at any Investor Service Centre of the Stock Exchange/
Depository
- Complaint can be filed by investor at the nearest Investor
Service
Centre (ISC)
28
programs.
29
programs.
Online Medium to File Complaint (NSE)
NICE Plus online portal of Exchange to file complaint is

available on the Exchange website
https://www.nseindia.com/invest/file-a-complaint-online
30
programs.
Offline Filing of Complaint (NSE)
- Complaint can be filed offline
by visiting nearest Investor
Service Centre of the
Exchange.
- Details of Investor Service

Centre of Exchange is available
on the Exchange website, as
shown below:
https://www.nseindia.com/invest/
d ownload-complaint-form-for-
offline-registration
The relevant complaint forms also

are
available on the Exchange website
31
programs.
Complaint Resolution Process – Trading
Member (TM) (NSE)
Receive investor complaints
Analyze issues raised by the investor & take up with trading

member
Analyze response from TM and then forward to Investor
Hold meetings /teleconferencing
Resolve the complaint. If not resolved, hold GRC meeting.
32
programs.
Investor Grievance Resolution Panel (IGRP)
(NSE)
Complaints which do not Where parties are

get resolved within 15 aggrieved by the
days of lodging on resolution worked out.
Exchange
Referred to Investor
Grievance Resolution
Panel
33
programs.
Investor Grievance Resolution Panel (IGRP)
(NSE)
 Investor Grievance Resolution Panel:
- Consists of retired external persons (who are not in full time employment).
- Redresses complaints and accordingly passes order.
- Constituted by Exchange at each of the Investor Services Cell (ISC)
The members on IGRP may be referred from below web-link:

https://www.nseindia.com/invest/investor-grievance-resolution-panel
 Order in favor of investor, NSE 
- Blocks amount from available deposits of the trading member

with NSE
- Pays the investor in case trading member decides not to file
arbitration.
 Trading Member decides to file arbitration 

34
- An interim amount released to investor from the Investor
programs.
Investor Service Centres (ISC)
(NSE)
Jammu
Shimla MUST KNOW:

Chandigarh
Delhi Dehradun
Jaipu Luckno Guwahat • 5 Regional Offices (RO)
r Kanpu w i
r
Ahmedaba • 19 Investor Service Centres
d
Vadodara Indor Patn (ISCs)
Kolkata
e a
HO WRO Ranchi
Raipur Bhubaneshwa
• TM complaint resolution and
Pun Hyderabad r
Arbitration is serviced from
Panaji e
Bangalor ROs & ISCs
e
Chennai
Cochin
35
programs.
Grievance Redressal Committee (GRC) -
Conciliation process (NSE)

Hold Grievance Resolution Committee meeting
Cost of conducting
conciliation is
Implementation of GRC orders in favor of investors
entirely borne by
the Exchange
Investor or trading member can opt for Arbitration, if not
satisfied
Record
Hear both the admissibility
parties of claim value
• Analyze • Detailed
the • Opportunity for discussion
complaint both parties to and/or • Prepare
represent clarification order
Go through their case mentioning
records Discuss for admissible
redressal claim
value
36
programs.
Arbitration (NSE)
What is ARBITRATION?
- Quasi Judicial process of settlement of disputes between trading
member, investor.
Arbitration Matters handled from all 24 centers.
Governed by Board sub-committee: Regulatory Oversight Committee.
Claim value up to Rs.10 lakhs Arbitration fees borne by Exchange
Centralized Arbitrator Appointment Process (CAAP)- for selection of

Arbitrator.
Mechanism of Appellate Arbitration, also available.

37
programs.
Arbitration (NSE)
 Filed online using NICE Plus
portal.
 Forms Arbitration /
for available on
Exchange
Appellate website: https://
www.nseindia.com/invest/
about-arbitration
 Panel of Arbitrators available

region wise disclosed on the
website on below link:
https://www.nseindia.com/invest/
arbitration-panel
38
programs.
Arbitration Process (NSE)
Applicant submits arbitration application to Exchange
Application is verified and sent to Respondent
Arbitrator appointed through CAAP and documents forwarded
Hearings held by arbitrator
Arbitrator passes award

Award debited if in favor of constituent
Appeal filed by aggrieved party
Hearings held and appeal award
passed Petition filed u/s 34 in Court
39
programs.
Arbitration Process – Important points
(NSE)
Activity Details
Arbitration application to be filed Three years from date of dispute.
within
Arbitration application to be filed at Regional Arbitration Centre (RAC) nearest

to investor’s address mentioned in KYC.
Arbitrators Value of Claim up to Sole Arbitrator

Rs.25 lakhs
Value of claim > Rs.25 Panel of three Arbitrators

lakhs
Selection of Arbitrator Through Centralized Arbitrator

Appointment Process (CAAP) across
Exchanges
40
programs.
Arbitration Process – Important points
(NSE)
Activity Details
Hearing in arbitration - Conducted by Arbitrator with the parties and judgement is
cases passed in form of award.
- For claim amount < Rs.25,000/-, hearing isn’t

compulsory, but arbitrator may call for hearing, if
required.
Awards announced by - Awards in favor of investor implemented by NSE.
Arbitrator
- Amount, as above, taken from trading member and paid
to investor.
Non-satisfactory - Investor/ TM not satisfied with arbitration award may file

redressal an appeal.
- Interim amount is paid out of IPF to investor, if

TM wishes to appeal further in appellate
arbitration.
41
programs.
Fee Structure for Filing Arbitration (NSE)
42
programs.
Forms/ Documents for Filing Arbitration
application (NSE)
Different forms/ documents used for filing arbitration application:
S.No. Forms/ Documents Purpose
1. Form III (dated & signed) For filing appeal against the award
passed along with copy of award.
2. Statement of appeal Brief description of the grounds which are
to be placed in the appeal and relief
sought through the appeal process.
3. Cheque/ Pay Order/ Demand Towards cost of appeal (non-refundable)
Draft in favour of NSEIL
* Note: The documents should be submitted in sets of 5 in original.
43
programs.
S.No. Forms/ Documents Purpose

1. Form III (dated & signed) For filing appeal against the award passed along with copy
of award.
2. Statement of appeal Brief description of the grounds which are to be placed in the
appeal and relief sought through the appeal process.
3. Cheque/ Pay Order/ Demand Draft Towards cost of appeal (non-refundable).
in favour of NSEIL
* Note: The documents should be submitted in sets of 5 in original.

44
programs.
Sample Arbitration Award Copy (NSE)
45
programs.
Arbitration Process – Interim Relief to small
investors (NSE)
 Interim Relief granted to clients by Stock Exchange (SE) from
Investor Protection Fund (IPF), if:
- Order of award is in favor of client.
- Member opts for further appeal
- Claim value admissible is not more than Rs.20 lakhs
Condition Interim Relief

TM files Arbitration against GRC order 50% of the admissible claim amount or
Rs.2 lakhs, whichever is less
TM opts for Appellate / Court against 50% of the award amount or 3 lakhs,
Arbitration whichever is less
TM files appeal in Court against Appellate 75% of the appellate arbitration award or 5
Award lakhs, whichever is less
 Total amount released to client through facility of interim relief from IPF shall
not exceed Rs.10 lakhs in the financial year.
46
programs.
Remedy to investors in case of Broker –
Expulsion/ Default (NSE)
 Defaulters’ Committee:
- Administer assets in respect of defaulters/expelled trading members.
- Distributes amount available in defaulter's account to the admitted claims

on pro-rata basis as per the priority laid out under NSE Rules /
Regulations / Bye-Laws
 In case of insufficient funds in Defaulters' account 
Compensation is paid from Investor Protection Fund (IPF)
 Compensation up to a maximum of Rs.25 lakhs per investor subject to an

overall limit per defaulter / expelled member.
47
programs.
Remedy to investors in case of Broker –
Expulsion/ Default (NSE)
 Trading Member expelled/ declared as defaulter/expelled member 
Exchange issues a Public Notice in leading newspapers.
 List available on NSE website under:
Home > Domestic Investors > Defaulters > Public Notice.
 Investors having claims against Defaulter/Expelled Trading Member:
Register claim within 3 months from date of Public Notice.
 To register a claim against a defaulter/expelled Member:
- Visit www.nseindia.com website

- Download form from below mentioned address:
https://www.nseindia.com/invest/details-to-be-provided-for-lodging-claims
48
programs.
Investor Grievance
Redressal - BSE
49
programs.
Investor Grievance Redressal (BSE)
 Department for Investors Services (DIS)
- Dedicated department to redress investor grievances.
- Operation of Investor Services Center (ISC) commenced in year 1986.
- Plays a pivotal role in enhancing and maintaining investors' faith and confidence by
resolving their grievances.
- Services offered by DIS are as under:

• Investors' Grievances against BSE's Trading Members (Including Arbitration &
appellate Arbitration)
• Claim against Defaulter/Expelled Member
• Investors' Grievances against Listed Companies
 Regional Investor Service Centers of BSE = At 25 places.
 Complaint against Companies are handled solely from Mumbai office (Fort & BKC).
50
programs.
Mode of Filing Complaints (BSE)
Physical Complaint eComplaint Portal

• Filing of complaints at • Lodging of complaints through
concerned regional investor Exchange’s website under e-
centre of BSE Ltd., Complaint Registration at
• List of Investor Service Centers following link:
available at: https://bsecrs.bseindia.com/e
https://www.bseindia.com/static/ c
omplaint/frmInvestorHome.a
investors/cac_tm.aspx spx
SCORES Email
• Lodging of complaints on SEBI • Lodging complaints through

SCORES. email on dedicated email id of
exchange at:
https://www.bseindia.com/static/
investors/cac_tm.aspx
51
programs.
Investor Service Centres (ISCs) offering IGRC &
Arbitration Facility (BSE)
25 ISCs PAN INDIA
1) Ahmedabad 13)Kochi
2) Bengaluru 14)Kolkata
3) Bhubaneshwar 15) Luckn
4) Chandigarh ow
5) Chennai 16) Mumb
6) Dehradun ai (2)
7) Guwahati 17) New
8) Hyderabad Delhi
9)Indore 18) Panjim
10)Jaipur 19) Patna
11)Jammu 20) Pune
21) Raipur
12)Kanpur 22) Ranchi
23) Shimla
24) Vadod
ara
52
programs.
Investor Grievance Redressal (BSE)
 Process of IGRC, arbitration and appeal is same as that of NSE.
 Investors to approach nearest Regional Investor Service Centre w.r.t. the most
recent address / registered office address of the constituent.
 Hearings shall be held in concerned Regional Investor Service Centre where the
Applicant has filed the Application for IGRC/Arbitration.
 For complaints arbitration forms, fees structure, arbitrators profile:

https://www.bseindia.com/static/investors/arbitration_mechanism.aspx
 For details of complaint/ Arbitration status:

https://www.bseindia.com/investors/invgrievstats.aspx
 For the Arbitration awards:

https://www.bseindia.com/investors/ArbitAwards.aspx
53
programs.
Investor Claim against Defaulter/ Expelled Member
(BSE)
 Maximum of Rs. 15,00,000/- be compensated to client of a defaulter.
 Compensation paid from Investors Protection Fund (IPF).
 Amount paid to extent of award amount or Rs. 15,00,000/-, whichever is lower.
 Exchange website may be accessed for:
- Norms for eligibility of claims for compensation from IPF.
- Form for lodging claim against Defaulter/Expelled Member.
- Checklist for lodging claims https://www.bseindia
.com/static/investors/cac_tm.aspx
54
programs.
Investor Grievance
Redressal - NSDL
55
programs.
Investor Grievance Redressal (NSDL)
 Have a Grievance related to Demat account?
- Approach Depository Participant (DP) where you hold
your demat account.
- Grievance not resolved by DP  Approach

your
Depository
 Lodge complaint to NSDL through:
Online
NSDL Email for NSDL email for
NSDL Toll Free submission of
grievance other
helpline Grievances at
information
www.nsdl.co.in
relations@nsdl.co
1800 222 990 .in info@nsdl.co.in
Query Now
56
programs.
Online Submission of Grievances (NSDL)
57
programs.
58
programs.
59
programs.
60
programs.
Investor Grievance
Redressal - CDSL
61
programs.
Investor Grievance Redressal (CDSL)
Approach Depository
If grievance not
Participant (DP)
Have a Grievance? resolved, approach
where you hold your
your depository.
demat account.
 Lodge complaint to CDSL through:
CDSL Web portal:

https://www.cdslindia.com/Footer/ CDSL Email id :
grievances.aspx  Post your complaints@cdslindia.com Trading/Broking related
Grievances grievance  take up
with Broker/Trading
- For complaints against Depository CDSL Toll Free no : 1800- Member
Participants (DPs) and Registrar and 22-5533
Transfer Agents (RTAs)
62
programs.
Registration of Grievance through CDSL
Web based Portal
To register your Visit www Click on option Post
Complaint .cdslindia.c your Grievance
om
Contd…
63
programs.
Web based Portal (contd…)
Enter details of grievance like
After clicking on Post type, category, sub-category,
your Grievance PAN, contact number, complaint
against and complaint details
Contd…
64
programs.
Grievance will
be registered
After entering Enter the OTP
mandatory details, received on and grievance
click on Submit your registered registration
option. email-id. number will be
flashed on
screen.
Contd…
65
programs.
Complaint Status of grievance
forwarded to may be checked
respective DP/ from – Inquire your
RTA for redressal. Complaints.
Contd…
66
programs.
Websites of SEBI and Stock Exchanges and
Depositories
 SEBI: www.sebi.gov.in
 SEBI SCORES: www.scores.gov.in
 Stock Exchanges:
 NSE Ltd: www.nseindia.com

 BSE Ltd: www.bseindi.com
 MSE: www.msei.in
 Depositories:
- NSDL: www.nsdl.co.in
- CDSL: www.cdslindia.com
67
programs.
Thank You
68
programs.

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AMIT GUPTA (Trainer)

SEBI Empaneled Securities Markets Trainer,

Join Google Groups:

Fill the Google Contact Form:

 SEBI Complaints Redress System (SCORES)

 Investor Grievance Redressal at:

 SCORES platform: https://scores.gov.in

 Online platform for investors to lodge their complaints

 Complaints against listed companies and

 Status of every complaint:

 Entity/Investor can seek/provide clarification on

 Unique complaint registration number for future

intermediaries are dealt through SCORES.

Complaints arising out of issues that are covered

Suspended Company falling

Fail to lodge a complaint within Stipulated Time?

Take up the complaint with the Approach appropriate Court of

 Investor may lodge complaint on SCORES within three

- Concerned listed company or registered intermediary rejected

- Complainant hasn’t received any communication from listed company or

- Complainant is not satisfied with reply given to him or redressal action

 For lodging a complaint in SCORES, following personal information has to be

PDF document (up

New User: Register here Redirected to complaint lodging screen on

Entity is required to submit details of redressal within 30

System shall request the complainant to confirm within 15 days

Scenarios when SEBI disposes off complaints

 Available in entity status tab

 Gives information regarding

 SEBI Toll Free Helpline Numbers:

 Operational hours: 9:00 a.m. to 6:00 p.m.

 Objective: Facilitating replies to various queries of general public on

Reserve Bank of India - Banks deposits and banking products

Insurance Regulatory and Development - Insurance Companies / Brokers /

Pension Fund Regulatory and - Pension funds

Competition Commission of India (CCI) - Monopoly and anti-competitive practices

National Housing Bank (NHB) - Housing Finance Companies

Insolvency and Bankruptcy Board of India - Companies where insolvency

Respective Stock Exchange - Complaints against suspended

Not satisfied with your trading member’s response  Contact firm’s

Any dispute with trading member  Complain in writing to trading

Complaint not addressed/ redressed by the trading member 

 Complaints can be filed by Investor via:

- Online portal of the Exchange: www.nseindia.com

NICE Plus online portal of Exchange to file complaint is

- Details of Investor Service

The relevant complaint forms also

Receive investor complaints

Analyze issues raised by the investor & take up with trading

Analyze response from TM and then forward to Investor

Hold meetings /teleconferencing

Resolve the complaint. If not resolved, hold GRC meeting.

Complaints which do not Where parties are

- Redresses complaints and accordingly passes order.

- Constituted by Exchange at each of the Investor Services Cell (ISC)

The members on IGRP may be referred from below web-link:

 Order in favor of investor, NSE 

- Blocks amount from available deposits of the trading member

 Trading Member decides to file arbitration 