As per the SEBI Circular No. SEBI/HO/MIRSD/DOP/P/CIR/2021/676 dated December 02, 2021 regarding Publishing Investor Charter and Disclosure of Investor Complaints.
To follow highest standards of ethics and compliances while facilitating the trading by clients in securities in a fair and transparent manner, so as to contribute in creation of wealth for investors.
| S.No | Activities | Expected Timelines |
|---|---|---|
| 1 | KYC entered into KRA System and CKYCR. | 10 days of account opening |
| 2 | Client Onboarding | Immediate, but not later than one week |
| 3 | Order execution | Immediate on receipt of order, but not later than the same day |
| 4 | Allocation of Unique Client Code | Before trading |
| 5 | Copy of duly completed Client Registration Documents to clients | 7 days from the date of upload of Unique Client Code to the Exchange by the trading member. |
| 6 | Issuance of contract notes | 24 hours of execution of trades |
| 7 | Collection of upfront margin from client | Before initiation of trade |
| 8 | Issuance of intimations regarding other margin due payments | At the end of the T day. |
| 9 | Settlement of client funds | 30 days / 90 days for running account settlement (RAS) as per the preference of client. If consent not given for RAS – within 24 hours of pay - out. |
| 10 | ‘Statement of Accounts’ for Funds, Securities and Commodities | Weekly basis (Within four trading days of following week) |
| 11 | Issuance of retention statement of funds/commodities | 5 days from the date of settlement |
| 12 | Issuance of Annual Global Statement | 30 days from the end of the financial year |
| 12 | Investor grievances redressal | 30 days from the receipt of the complaint |
Level 1 Approach the Stock Broker at the designated Investor Grievance e–mail ID of the stock broker. The Stock Broker will strive to redress the grievance immediately, but not later than 30 days of the receipt of the grievance.
Level 2 Approach the Stock Exchange using the grievance mechanism mentioned at the website of the respective exchange.
| S.No | Type of Activity | Timelines for activity |
|---|---|---|
| 1 | Receipt of Complaint | Day of complaint (C Day) |
| 2 | Additional information sought from the investor, if any, and provisionally forwarded to stock broker. | C + 7 Working days. |
| 3 | Registration of the complaint and forwarding to the stock broker. | C + 8 Working Days i.e. T Day. |
| 4 | Amicable Resolution | T + 15 Working Days. |
| 5 | Refer to Grievance Redressal Committee (GRC), in case of no amicable resolution. | T + 16 Working Days. |
| 6 | Complete resolution process post GRC | T + 30 Working Days. |
| 7 | In case where the GRC Member requires additional information, GRC order shall be completed within. | T + 45 Working Days. |
| 8 | Implementation of GRC Order. | On receipt of GRC Order, if the order is in favour of the investor, debit the funds of the stock broker. Order for Debit is issued immediately or as per the directions given in the GRC Order. |
| 9 | In case the stock broker is aggrieved by the GRC order, will provide intention to avail arbitration | Within 7 days from the receipt of the order. |
| 10 | If intention from stock broker is received and the GRC order amount is unto Rs.20 lakhs | Investor is eligible for interim relief from Investor Protection Fund (IPF). The interim relief will be 50% of the GRC order amount or Rs.2 lakhs whichever is less. The same shall be provided after obtaining an undertaking from the investor. |
| 11 | Stock Broker shall file for arbitration | Within 6 months from the date of GRC recommendation. |
| 12 | In case the stock broker does not file for arbitration within 6 months. | The GRC order amount shall be released to the investor after adjusting the amount released as interim relief, if any. |
Following steps are carried out by Stock Exchange for benefit of investor, in case stock broker defaults:
Following information is available on Stock Exchange website for information of investors:
Level 3 The complaint not redressed at Stock Broker / Stock Exchange level, may be lodged with SEBI on SCORES (a web based centralized grievance redressal system of SEBI) @ https://scores.gov.in/scores/Welcome.html
| S.No | Received From | Carried Forward from Previous Month | Received During the Month | Total Pending | Resolved | Pending At End Of The Month | Average Resolution Time (In Days) |
|---|---|---|---|---|---|---|---|
| 1 | Directly From Investors | 0 | 0 | 0 | 0 | 0 | 0 |
| 2 | SEBI (SCORE) | 0 | 0 | 0 | 0 | 0 | 0 |
| 3 | Stock Exchanges | 0 | 0 | 0 | 0 | 0 | 0 |
| 4 | Other Sources (If any) | 0 | 0 | 0 | 0 | 0 | 0 |
| 5 | Grand Total | 0 | 0 | 0 | 0 | 0 | 0 |
| S.No | Month | Carried Forward From Previous Month | Received | Resolved | Pending |
|---|---|---|---|---|---|
| 1 | December -2023 | 0 | 0 | 0 | 0 |
| 2 | January -2024 | 0 | 1 | 0 | 1 |
| 3 | February -2024 | 1 | 0 | 1 | 0 |
| 4 | March -2024 | 0 | 0 | 0 | 0 |
| 5 | April -2024 | 0 | 0 | 0 | 0 |
| 6 | May -2024 | 0 | 0 | 0 | 0 |
| 7 | June - 2024 | 0 | 0 | 0 | 0 |
| 8 | July - 2024 | 0 | 0 | 0 | 0 |
| 9 | August - 2024 | 0 | 0 | 0 | 0 |
| 10 | September-2024 | 0 | 1 | 1 | 0 |
| 11 | October -2024 | 0 | 0 | 0 | 0 |
| 12 | November -2024 | 0 | 0 | 0 | 0 |
| Grand Total | 0 | 0 | 0 | 0 |
| S.No | Year | Carried Forward From Previous Year | Received During The Year | Resolved During The Year | Pending At End Of The Year |
|---|---|---|---|---|---|
| 1 | 2017-2018 | 0 | 0 | 0 | 0 |
| 2 | 2018-2019 | 0 | 0 | 0 | 0 |
| 3 | 2019-2020 | 0 | 0 | 0 | 0 |
| 4 | 2020-2021 | 0 | 4 | 4 | 0 |
| 5 | 2021-2022 | 0 | 1 | 1 | 0 |
| 6 | 2022-2023 | 0 | 1 | 1 | 0 |
| 7 | 2023-2024 | 0 | 2 | 2 | 0 |
| Grand Total | 0 | 8 | 8 | 0 |