The Securities and Exchange Board of India on 6th November 2020 has instructed the stock exchanges to ensure that the investor complaints are resolved within 15 working days from the date of receipt of the complaint. Additional information, if any, required from the complainant, shall be sought within 7 working days from the date of receipt of the complaint.
The period of 15 working days shall be counted from the date of receipt of additional information sought and the Stock Exchange shall maintain a record of all the complaints addressed/redressed within 15 working days from the date of receipt of the complaint/additional information. If complaint is not resolved within stipulated time frame, then the reason for non-redressal in given time frame shall also be recorded.
However for Complaints related to trade, settlement and ‘deficiency in services’, resulting into any financial loss, the stock exchange shall resolve the complaint on its own as per the time lines prescribed.
Service-related complaints include non-receipt or delay of account statement, non-receipt or delay of bills, closure of account, technological issues, improper service by staff, freezing of account, alleged debit in trading account and demat account transferred without permission. For complaints-related to trade, settlement and ‘deficiency in services’ resulting into any fnancial loss, the exchanges would resolve the complaint on its own as per the time lines prescribed.
