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Investor Grievances

Investor Grievances

BSE has established a Department of Investors Services (DIS) to redress investors' grievances. Since its establishment in 1986, the DIS has played a pivotal role in enhancing and maintaining investors' faith and confidence by resolving their grievances either against listed companies or against BSE's Trading Members. The services offered by DIS are as under:

(a) Investors' Grievances against Listed Companies

Investors' complaints against listed companies are forwarded by BSE to the concerned companies, with a copy sent to the complainant. The investors are advised to inform BSE if the complaints are not resolved within 30 days. If a company fails to redress the complaint within 30 days, BSE sends a reminder to the company. BSE follows-up with the companies and / or their Registrar & Transfer Agents, to resolve such complaints. If the total number of pending complaints against a company exceeds 25 and remain unresolved by the company for more than 45 days, then steps are initiated by BSE to suspend trading in the securities of such company till the complaints are resolved. BSE may also transfer such scrips to, "Z" Group.

A "Z" category company indicates that it has not complied with various provisions of the listing agreement including non-resolution of investors' complaints. Through creation of "Z' category, BSE cautions investors to be more careful in their investments in such companies.

Investors are expected to submit their complaints in the prescribed Complaint format to the nearest Regional Investor Service Centre of BSE on the basis of an investor's address. Filing of complaint at the concerned Regional Investor Service Centre will enable to process the complaint expeditiously.

Visit of Registrar & Transfer Agents to BSE

BSE regularly organizes visits of Registrars & Transfer Agents (RTAs) at its Registered Office to allow Trading Members and investors to have direct interface with them for redressal of complaints against companies listed on BSE.

(b) Investors' Grievances against BSE's Trading Members

Investors are expected to submit their complaints in the prescribed Complaint Form.

The contact person for complaints through SCORES is as under :

               Mr. Mahesh Ghadi, DM - Investor Services

               Contact No. :  022 22728517

               Email id :

BSE has started following Regional Investor Service Centre at following locations, to provide Investor Grievance Redressal (IGRC) and Arbitration Mechanism; to the Investors.

Name of Centre Operations Effective From
Mumbai, Delhi, Kolkatta and Chennai
31st January, 2009
Hyderabad, Ahmedabad, Indore and Kanpur
01st October, 2012
Bangalore, Jaipur and Pune
31st December, 2013
Vadodara, Lucknow and Patna
30th June, 2014
Bhubaneshwar, Kochi, Dehradun, Goa, Guwahati, Jammu, Ranchi, Raipur
18th October 2016
25th October 2016
22nd November, 2016

The investors shall approach the nearest Regional Investor Service Centre, the most recent address / registered office address of the constituent, as duly communicated in writing to the Trading Member in accordance with regulatory requirement is located. The hearings shall be held in the concerned Regional Investor Service Centre where the Applicant has filed the Application for IGRC/Arbitration.

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Regional Investor Service Centres

BSE Investor Service Centre

203/204,' Abhishree Avenue'
Near Nehru Nagar Circle
S. M. Road,Ambawadi
Ahmedabad - 380 015

Telephone No.: 079-2640 2992 / 2646 2992 / 8657432127
Fax No.: 079 - 2640 2992
Contact Person : Jigar Gadesha

E-mail Id:


BSE Investor Service Centre
Shree Raghavendra Complex No. 184,
3rd Cross, Link Road,
Bengaluru – 560 003

Telephone No. 080 -2356 8444
Contact person - Mr. Thilakraj Rai

E-mail Id :

BSE Investor Service Centre, Bhubaneshwar

1st floor, UCCI - Utkal Chamber Of Commerce ,
And Industry Building,
N/6, IRC Village, Nayapalli,
Bhubaneshwar – 751 015.

Tele No.: 0674-2361029 /9836340444
Contact person - - Mr. Falguni Gayen
E-mail :

BSE Investor Service Centre

1st floor, office No-107 ,
SCO No – 40, Sector 26,
Madya Marg, Chandigarh – 160 019 ,

Tele No.: 0172-2790259 / 9416772259
Contact person - -: Ms. Uma Rani
E-mail :

BSE Investor Service Centre

The Stock Exchange Investors Protection Fund ,
Imperial, 8th Floor,610, 610A & 612
Anna Salai, Teynampet,
Chennai - 600 018.

Tele. No.: 044 4608 8585
Contact person - - Ms. Vasudha Sykam


BSE Investor Service Centre

Shop No 4 and 5, 1st Floor,
Shiva Palace Shopping Complex 57/19,
(Old No 57), Rajpur Road
(New No.264 part of Rajpur Road – 1),
Dehradun, Uttarakhand

Tele. No.: 8826 799907
Contact person: Mr. Jitender Nautiyal


New Delhi

BSE Investor Service Centre

101, 1st Floor, Aggarwal Corporate Tower,
Plot No. 23, District Center,
Rajendra Place,
New Delhi - 110 008

Tele. No. 011 - 2578 2116 - 18
Contact Person : Mr. Poonam Chand


BSE Investor Service Centre

2nd Floor, Shankar Complex,
G. S. Road, Christian Basti,
Opp. Income Tax Building,,
Guwahati – 781005

Tele. No.: 0361 – 2340411 / 9836810411
Contact person: Mr. Surajit Banerjee



BSE Investor Service Centre

Flat no. 302, Marigold Pavani Estates,
Dwarkapuri Colony,
Hyderabad - 500082

Telephone No.: 040-30605844/45/46
Contact person - Mr. Aditya Reddy

E-mail Id:


BSE Investor Service Centre

405, 4th Floor,
Apollo Square, Near Janjeerwala Square,
Indore -452001

Tele No.: +919977069237
Contact Person : Mr. Amit Keshri

E-mail Id:


BSE Investor Service Centre

Office No. 401, Situated on 4th floor,
Durga Business Center,
Opp. Hotel Gangaur, M.I.Road, Jaipur - 302001

Tele No.: 0141- 2370877 / 2378077
Contact Person : Mr. Chidrup Jain

E-mail Id:

BSE Investor Service Centre

Hall No. 104, 1st floor, B1, North Block
Bahu Plaza, Gandhi Nagar, Jammu.
Pin Code 180004

Tele No.: 0191-2477688 / 9086 321641
Contact Person: Mr. Wasim Akhtar

E-mail Id:

BSE Investor Service Centre

5th Floor, Padam Towers
14/113, Civil Lines
Kanpur - 208001

Tele No.: 91-9336330705 / 9455921331
Contact Person : Mr. Jitendranath Shukla

E-mail Id:


BSE Investor Service Centre

2nd Floor, Sree Lakshmi Tower,
Ravipuram Road, Ravipuram,
Cochin - 682016

Tele. No. : 0484 -2356143 / 44
Cell No. 9349754075

Contact Person : Mr. Sumith C. S.



BSE Investor Service Centre

Units No. A1 (ii) & (iii),
1st Floor of Block "A"
22 -Camac Street,
Kolkata - 700 016

Tele. No. :033-22821375,
Telefax No.:033-22821376
Contact Person : Mr. Anirban Guha



BSE Investor Service Centre, Lucknow

A-19, Mirai Tower,
Adjacent to Utsav Lawn,
Nirala Nagar, Near- Ram Krishna Math,
Lucknow - 226020

Tele No. 0522 - 2235365/ 9415669872
Contact Person : Mr. Sanjeo Tripathi



BSE Investor Service Centre

Cama Building, 1st floor,
Dalal Street,
Fort, Mumbai – 400001.

Tele. No.: 022-22721233/34
Fax No.: 022-22723677
Contact Person: Ms. Sneha Mandhare

E-mail Id:


BSE Investor Service Centre, Patna

Flat No. 205, 2nd Floor,
A Wing, Rizvi Towers, Caculo Circle,
St Inez, Panaji,
GOA – 403001.

Tele. No.: 91 68 465838
Contact Person: Mr. Jason Dias

E-mail Id:


BSE Investor Service Centre, Patna

611A, 6th floor,
Ashiana Plaza,
Budh Marg,
Patna – 800001.

Tel. No. : 08651036680 / 82
Contact Person: Mr. Gagankumar Singh

E-mail Id:


BSE Investor Service Centre

Unit / Shop No. SW / G-2,
Ground Floor, North Block,
Sacred World, Wanorie,
Pune - 411040.

Tele. No. : 020-65202065
Contact person - Mr. Siddharth Dixit
E-mail :

BSE Investor Service Centre

3rd Floor, T- 17,
Raheja Tower Fafadi Chowk,
Jail Road Raipur – 492001

Tele. No. : 0771 – 28883359 / 8236920359
Contact person: Mr. Akalp Shrotey
E-mail :

BSE Investor Service Centre

Ram Naresh Prasad Sharma 4TH Floor,
Vasundhara Mega Mart,
Argora Chowk
Ranchi – 834012.

Tele. No. : 0651 -2244138 / 9470309858
Contact person: Abhishek Kumar Sharma
E-mail :

BSE Investor Service Centre

No. 1, Vishnu Chambers
Kashi Visheswar Township Flat,
Vishnu Bhawan,
The Mall, Shimla – 171001.

Cell. No. : 01772 - 805362 / 08988245362
Contact person - Mr. Hari Das Kaushal
E-mail :

BSE Investor Service Centre, Vadodara

701 – A, 7th floor, Mid-Town Heights,
Jetalpur Road, Alkapuri,
Vadodara – 390 007

Tele. No. : 0265-2341969
Contact person - Mr.Anoop Dwivedi
E-mail :

The complaints of investors against BSE's Trading Member's are forwarded to the concerned Trading Members for resolution. Trading Members to reply the same within 3 working days from receipt of the complaint from BSE. In case no reply is received from the Trading Member or the reply received from the Trading Member does not satisfy the complainant, the same is placed before Investors' Grievances Redressal Committee (IGRC).

BSE provides services of IGRC which, in its meetings, mediates and counsels the disputing parties for finding amicable solution, for which the Exchange sends Notice to both parties to remain present before the said IGRC. In cases, where an amicable solution cannot be reached. IGRC suggests the complainant to opt for an arbitration if they so desire. It records the final outcome in the matter in the form of minutes, a copy of which is handed over to the parties or mailed to an absent party.

The Exchange levies penalties on the Trading Member for not replying within the specified period to the complaints forwarded or not attending the IGRC meetings. Further, in case the Trading member fails to implement what is agreed before IGRC as recorded in the said minutes of the IGRC, the Exchange places the same before the Disciplinary Action Committee levies the penalties.

The complaints amounting to less than Rs. 25,00,000/- is heard by the IGRC comprising of one member' and those amounting to more than Rs. 25,00,000/- are heard by the IGRC comprising of three members.

The Exchange has formed separate IGRCs, for each Regional Investor Service Centre to deal with the cases. It will be in the interest of investors to ascertain the concerned Regional Investor Service Centre for filing his / her complaint, since the period consumed in redressal of complaint through IGRC will not be considered while measuring period of 'limitation' in filing arbitration application.

Investor Protection Fund

BSE set up an Investor Protection Fund (IPF) on July 10, 1986 to compensate the clients who suffer financial loss due to their member being declared as defaulter, in accordance with the Guidelines issued by the Ministry of finance, Government of India. IPF is managed by the Trustees appointed by BSE.

The Fund corpus is created as follows:

The Members contribute Re. 0.01 per Rs.1 lakh of gross turnover, which is debited to their General Charges Account. BSE contributes, on a quarterly basis, 1% of the listing fees collected by it. The entire interest earned by BSE on 1% security deposit kept with it by companies making public/rights issues is credited to the Fund. As per the SEBI directive, auction proceeds that have been impounded in certain cases where price manipulation / rigging was suspected are transferred to the Fund. The surplus lying in the account of the defaulters after meeting their liabilities on BSE is released to them after transferring 5% of the surplus amount to this Fund. The interest received on amounts invested from the corpus of the fund is credited to the fund at the end of each financial year.

Compensation Policy

At present the Exchange compensate to the maximum extent of Rs. 15,00,000/- to the client of a defaulter from its Investors Protection Fund (IPF). The amount is paid to the extent of award amount or Rs. 15,00,000/-, whichever is lower. The revised amount of Rs. 15,00,000/- shall be applicable to the clients of the Trading Member of the Exchange, who are declared Defaulter after 5th December, 2009. (This amount has been progressively raised by BSE from Rs.10,000 in 1988 to the present level).

The arbitration Award obtained by investors against defaulters are scrutinized by the Defaulters Committee, a Standing Committee constituted by BSE, which may recommend to the Trustees of the Fund for release the payment as per the applicable limits to the clients of Trading Members which have been declared Defaulter. After the approval of the Trustees of the Fund, the amount is disbursed to the investors from the Fund. Those claims which are permissible for payment from IPF as per the Trust Deed are considered by the Defaulters' Committee for recommending payment from the fund.