Claim against Defaulter

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.

List of Members who have Declared Defaulter/Expelled since 1992

Investor can lodge claim against defaulter, in physical form i.e. by submitting the prescribed claim form along with the supporting documents such as Ledger statement, Bank statement, Demat transaction statement etc. at any of the Regional Investor Service Centres either in person or by post.

Investor can also lodge a claim through email on or through the facility provided on BSE’s website under Investor section "e-Complaint Registration"

Additionally, investor can also lodge a claim on SCORE, a web based centralized grievance redressal system of SEBI

The investor can check the status of their claim with help of PAN and Mobile no. on link

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.

Investor Protection Fund Corpus

  • The corpus of BSE IPF as on February 28, 2023: Equity Segment - Rs.873.19 Crores (Includes Auction proceeds along with interest thereon retained as advised by SEBI.) and Commodity Segment - Rs.0.57 Crores.

Compensation Policy for clients of defaulter members

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 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 December 5, 2009. (This amount has been progressively raised by BSE from Rs.10,000 in 1988 to the present level).

The claim of investors against defaulters are scrutinized and placed before the Member Committee (Erstwhile Defaulters Committee). Claims which are eligible for compensation from IPF as per the norms approved by the then Defaulters’ Committee are considered by the Member Committee for recommending to the IPF for compensation from IPF. After the approval of the Trustees of the IPF, the amount is disbursed to the investors from the IPF

Priority of Disbursement of assets of defaulter member :

  • Dues to BSE or to Clearing Corporation or to SEBI
  • Dues to the extent of principal amount to other related Trading Members and constituents of the defaulters
  • Dues to the Investor Protection Fund (IPF).
  • Dues of the other Stock Exchanges, if any
  • Dues of the clearing banks for clearing the dues
  • Surplus assets refunded to defaulter

Form for lodging claim against Defaulter/Expelled Member & Checklist

Norms for eligibility of claims for compensation from IPF to the clients of the defaulter member

Amended Norms for eligibility of claims for compensation from IPF to the clients of the defaulter members w.e.f. September 4, 2022

FAQ on processing of investors’ claims against Defaulter members

Standard Operating Procedure (SOP) for Handling of Claims of Investors in the Cases of Default by Trading Members as prescribed by SEBI vide its letter dated November 13, 2020 and December 31, 2020

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

Ahmedabad Bengaluru Bhubaneshwar
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 l Service Centre
Shree Raghavendra Complex No. 184,
3rd Cross, link Road,
Bengaluru - 560003
Telephone No. 080 – 23568444 / 9987976090
Contact person - Mr. Thilakraj Rai
E-mail Id
BSE Investor Service Centre,
BSE Ltd.
Room No.209, Block A,
2nd Floor, Nirmal Plaza,
1-A-Forest Park,
Tele No.: 0674-2361029 / 7978704644
Contact person - Soumya Ranjan Sahoo
E-mail Id
Chandigarh Chennai Dehradun
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: Mr. Hari Das Kaushal /Ms. Uma
E-mail Id :
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 46088585 / 8754593453
Contact Person : N.Pavithraa
E-mail Id :
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 - 248001
Tele. No.: 8279629678
Contact person: Mr. Sandeep Bhaskar
E-mail Id :
New Delhi
Guwahati Hyderabad

BSE Investor Service Centre
101, 1st Floor, Aggarwal Corporate Tower,
Plot No. 23, District Center,
Rajendra Place,
New Delhi - 110 008
Tele. No. 011 - 25782116 – 18 / 9971510386 / 8585967634
Contact Person : Mr. Poonam Chand
E-mail Id :

BSE Investor Service Centre
Kay M Plaza, Room No. 5,
2nd Floor, GS Road,
Ganeshgiri, Dispur,
Guwahati – 781006

Cell. No : 7896296160
Contact person: Mr. Anil Kumar Thakur
Email ID:

BSE Investors Service Centre
Unit No. 103, 1st Floor, Imperial Tower,
Opp. Ameerpet Metro Station, Ameerpet,
Hyderabad - 500038
Telephone No.: 040 – 46012207/08, 7337592923

Contact person - Mr. Aditya Reddy
Email ID:
Indore Jaipur Jammu
BSE Investor Service Centre
405, 4th Floor,
Apollo Square, Near Janjeerwala Square,
Indore -452001
Tele No.: 9977069237
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 / 9772007555
Contact Person : Atul Kumar Sharma
E-mail Id:
BSE Investor Service Centre
Hall No. 104, 1st floor, B1, North Block,
Bahu Plaza, Gandhi Nagar,
Jammu - 180004
Tele No.: 0191-2477688 / 9070074433
Contact Person: Prince Singh
E-mail Id:
Kanpur Kochi Kolkata

BSE Investor Service Centre
263, Second Floor, Padam Towers 14/113,
Civil Lines Kanpur - 208001
Tele No.: 9336330705

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. 8301050915

Contact person - Mr. Krishnaprasad G
E-mail Id:

BSE Investor Service Centre
Units No. A1 (ii) & (iii),
1st Floor of Block "A",
22 -Camac Street,
Kolkata - 700 016
Tele. No. :033-22821375/ 7977091610
Fax No.: 033-22821376
Contact Person : Mr. Raktim Ray
E-mail Id :

Lucknow Mumbai Panaji

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

Tele No. 0522 - 2788380 / 9415669872

Contact Person : Mr. Sanjeo Tripathi

E-mail Id :

.BSE Investor Service Centre
Cama Building, 1st floor,
Dalal Street,
Fort, Mumbai – 400001.
Contact Person: Mr. Dhananjay Apte
Tele. No.: 022 22725119 /8513/8237/8918
Contact Person: Ms. Raksha Shetty
Tele. No.: 022 22728035 / 8237 / 8879038066 / 7977092238
E-mail Id:

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

Tele. No.: 7038562420

Contact person: Mr. Shailesh Mallanar

Email ID:

Patna Pune

BSE Investor Service Centre
611A, 6th floor,
Ashiana Plaza,
Budh Marg,
Patna – 800001.

Tel. No. :9122883603
Contact Person: Mr. Shahil Kumar Sinha

E-mail Id:

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

Tele. No. : 9152728151
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 - 2883359 / 9575136146
Contact person: Mr. Tanmay Acharya

E-mail :
Ranchi Shimla Vadodara
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

Email ID :

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

Cell. No. : 1772 - 805362
Contact person - Mr. Karan Sharma

E-mail :

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

Tel. No. : 0265 - 2341969 / 9909941969
Contact person - Mr.Anoop Dwivedi

E-mail :