There are occasions when an investor have grievances against listed company/ intermediary registered with SEBI. In the event of such grievances the investor should first approach the concerned company/intermediary against whom an investor has a grievance.

If the investor is not satisfied with the response from the concerned company then the investor should be well aware of where he/she should turn to, to get his/her grievance redressed.

SEBI has taken the initiative for investor protection, and takes up all grievances related to issues and transfer of security and non-payment of dividend etc with listed companies. In addition to this SEBI also takes up grievances against various intermediaries registered with it and other related issues.

NATURE OF GRIEVANCE:

1. Refund order/Allotment Advice
2. Non Receipt of dividend
3. Non- Receipt of Share Certificates after transfer / or Credit in Demat Accounts
4. Debentures related issues
5. Non- Receipt of letter of offer for Rights
6. Collective Investment Schemes.
7. Mutual Fund Portfolio Managers, Custodians
8. Brokers, DP’S Merchant Bankers, Registrars and Transfer Agents and other intermediaries

For fast and prompt action the complaints should be properly typed preferably on the format given by SEBI, which is annexed as an Annexure to the OIAE Division of SEBI at Mumbai or Regional Offices

SEBI Head Office: Mittal Court, ‘A’ Wing 1st Floor 224, Nariman Point, Mumbai-400 021.Tel Nos: 022-22880962-70, 22850451-56 Email: iggc@sebi.gov.in

SEBI OIAE : 4th Floor, Exchange Plaza, ‘G’ Block, Bandra Kurla Complex, Bandra (E) Mumbai-400 051. Tel Nos: 022-26598510-13, Email: iggc@sebi.gov.in

SEBI North Regional Office: Block No 1 Rajendra Bhawan, Rajendra Place, Dist Centre New Delhi-110 008 Tel Nos: 011-25788658/7538 Email: sebinro@sebi.gov.in

SEBI Eastern Regional Office: L&T Chambers, 3rd Floor 16, Camac Street, Kolkatta-700 016 Tel Nos: 033-22801219/1220/1614 Email: sebiero@sebi.gov.in

SEBI Southern Regional Office: 3rd Floor, D’ Monte Bldg,No 32, D’Monte Colony,TTK Road Alwarpet,Chennai-600 018 Tel: 044-24995676/5525/7385 Email: sebisro@sebi.gov.in

There are other investment related grievances to be addressed to the concerned regulatory authorities

These are some of them to be addressed to the following authorities

• Related to securities traded/listed with the exchange

• Trades affected on the exchange w.r.t. the companies listed on it or by the members of the stock exchange.

• Against unlisted companies
• For non-receipt of annual report,AGM notice
• Fixed deposit in manufacturing companies
• Forfeiture of shares

• Fixed Deposits in Bank
• Fixed Deposits in Non Banking Finance Companies

1. To receive all benefits/ material information declared for the Investors’ by the Company.

2. Prompt Services from the Company such as transfers, Sub-divisions and consolidation of holdings in the Company.

3. Equity holders have a right to subscribe to further issue of Capital by the Company.

4. Brokerage not to exceed 2.5 per cent of the Contract Price.

5. Receipt of the Contract note from the broker in the specified format showing transaction price and brokerage separately.

6. Investors can expect delivery of shares purchased/value of shares sold within 2 days after the pay-out day.

7. Access to the Exchange arbitration facilities in case of dispute with brokers. Contact : The Investors’ Service Cell, The Stock Exchange, 1st Floor , Rotunda Bldg, Mumbai – 400 001

8. For complaint against listed Companies/brokers contact: The Investors’ Service Cell, The Stock Exchange,1st Floor, Rotunda Bldg, Mumbai –400 001.

1. Don’t deal with unregistered intermediaries, as this would expose you to counter party risk.

2. Give clear and unambiguous instructions to your Broker / Sub–broker.

3. Keep a record of all instructions issued to the Broker / Sub–broker.

4. Confirm with your Broker / Sub–broker whether delivery is in physical or demat form before selling shares.

5. Don’t fall prey to promises of unrealistic high returns.

6. Don’t indulge in speculative trading, go by fundamentals.

7. Trade within your predetermined limits.

8. Use the Investors’ Grievance Redressal system of the Exchanges to redress your grievances if any.

9. Understand the working of the Investor Service Cell for complaint against listed companies / Brokers.

10. You can trade on your own through Internet based trading by registering with a Broker.

• Non-receipt of delivery of shares/ Non removal of objection/Non-receipt of sale proceeds of shares/ Non-receipt of dividend/ Non-receipt of Rights, Bonus shares

• Disputes regarding Rate Difference

• Disputes relating to non-settlement of Accounts

• Miscellaneous Items

The complaints are forwarded to the concerned members to reply /settle the complaints within 7days from the receipt of the letter. If no reply is received or reply received is not satisfactory, the matter is placed before the IGRC (Investor’s Grievance Redressal Committee) headed by Retd. High court Judge. IGRC is constituted by the Governing Board to resolve the Complaints of non-members against Members through the process of reconciliation. The parties are heard and the matter is tried to be solved amicably or it is referred for Arbitration under the Rules, Bye-laws & Regulations of the Exchange.

These are some of the safe-guards that needs to be adhered to by the Investors’ before trading in the securities market.

• Deal with only SEBI registered Broker / Sub-broker after due diligence. Details of List of Brokers’ can be procured from the Member’s List published by the Exchange and from its website: www.bseindia.com

• Fill in a Client registration form with Broker / Sub – broker

• Enter into Broker / Sub–broker – Client Agreement. This agreement is mandatory for all Investors for registering as a client of a BSE Trading Member. The Client should ensure the following before entering into an agreement:

Carefully read and understand the terms and conditions of the agreement, before executing the same on a valid stamp paper of the requisite value.

Agreement to be signed on all the pages by the Client and the Member or their representative who has the authority to sign the agreement. Agreement has also to be signed by the witnesses by giving their name and address.

• Specify to the Broker / Sub- broker, Exchange through which your trade is to be executed and maintain separate account per Exchange.

• Obtain a valid Contract Note (from Broker) / Confirmation Memo (from Sub–broker) within 24 hours of the execution of the trade.

• Ensure that the Contract Note / Confirmation Memo contains:

SEBI registration number of the Member/ Sub-broker.

Details of trade such as, Order no, trade no., trade time, quantity, price, brokerage, settlement number, details of other levies.

The trade price should be shown separately from the brokerage charged.

The brokerage and service tax is indicated separately in the contract note.

Signature of authorized representative.