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
Any investor having grievance against Trading Member can register complaint
with BSE in respect of transactions executed on BSE in the prescribed
Complaint
form at the address mentioned below or to the nearest Regional Investor
Service Centre of BSE along with necessary supporting documents. Kindly
ensure that investor should also provide valid email id, mobile number
and PAN.
Investor can also lodge a complaint through email at the address mentioned
below or through the facility provided on BSE’s website under Investor
section " e-Complaint
Registration"
Additionally, investor can also lodge a complaint on SCORE,
a web based centralized grievance redressal system of SEBI
The complaints of investors against BSE's Trading Member's are forwarded
to the concerned Trading Members for resolution. In case no reply is received
from the Trading Member or the reply received from the Trading Member
does not satisfy the complainant or the matter is not getting settled
amicably, the same is placed before Investors' Grievances Redressal Committee
(IGRC)
Investors' Grievances Redressal Committee (IGRC):
IGRC is a conciliatory mechanism; wherein, both the parties to the dispute
are called before the Committee and efforts are made to arrive at the
solution which is acceptable to both the parties.
However, pursuant to SEBI circular dated September 26, 2013, IGRC has
been empowered to decide the claim value of the investor against the Trading
Member on the basis of merit of the case.
The Exchange has formed separate IGRCs, for each Regional Investor Service
Centre to deal with the complaints referred to it
The complaint amounting upto Rs. 25,00,000/- are referred to the IGRC
comprising of one member and those amounting to more than Rs. 25,00,000/-
are referred to the IGRC comprising of three members.
Payments to investors from deposits of member or IPF
SEBI vide its circular dated September 26, 2013 empowered the IGRC to
decide the claim value of the investors against the trading members on
the basis of merits of the cases. In case the claim value is decided by
IGRC in favour of investor and accepted by the investor, the amount is
blocked from the deposits of the member with the Exchange .
As per SEBI circular dated February 23, 2017, in case the claim is for
amount less than Rs. 20 lacs following process is followed:
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If trading member intimates to the Exchange, within 7 days from receipt
of IGRC decision, that he is challenging the decision of IGRC before arbitration,
the investor is paid to the extent of 50% of claim amount decided by IGRC
or Rs. 2 Lacs whichever is less, from IPF. In case the member fails to
intimate the same within above period, the Exchange release the entire
amount blocked from the deposits of the member to the client and settles
the claim.
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In case the member files the arbitration and the award is finalised
in favour of the investor and member opts to file Appeal, 50% of arbitration
award amount or Rs. 3 Lacs whichever is less shall be released to the
investor from IPF. The amount released shall exclude the amount already
released to the client at clause (a) above.
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In case at Appellate Bench, the arbitration award is finalised in
favour of the investor and member opts to file petition u/s 34 of Arbitration
& Conciliation Act, 1996, then 75% of the amount determined in the
appellate arbitration award or Rs. 5 lakhs, whichever is less, shall be
released to the client from IPF of the Stock Exchanges. The amount released
shall exclude the amount already released to the client at clause (a)
and (b) above.
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Total amount released to the client through the facility of interim
relief from IPF in terms of this Circular shall not exceed Rs. 10 lakhs
in a financial year.
However, in case the investor lose the matter at any stage and decide not pursue
the matter further, he has to refund the money received from IPF back. In case
he fails to do so the Exchange will not allow that investor on the basis of
PAN no. to trade on any of the stock exchanges and the demat account/s of the
investor will be blocked till the time he refund the amount
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 Member Committee levies the penalties.
Complaints not taken up at the Exchange :
The Investor Services Dept. of the Exchange will not to deal with certain types
of complaints. Illustrative list of nature of complaints that would not be handled
by Investor Services Cell are as under.
- Complaints which are relating to entities which are not regulated
by Exchange / entities which are not registered with Exchange as Trading
Member
- Complaints which are relating to activities other than trading
- Complaints relating to transactions which are in the nature of loan
or financing and not within the framework defined by the Exchange
- Complaints involving payment of funds and transfer of securities
to entities other than Trading Member
- Complaints in respect of transactions which are already subject matter
of Arbitration /Appellate Arbitration proceedings
- Claims for mental agony/harassment and expenses incurred for pursuing
the matter with the ISC
- Claim for notional loss, opportunity loss for the disputed period
or trade
- Complaints pertaining to trades not executed on the Trading System
of the Exchange
- Claims of sub-broker/authorized persons for private commercial dealings
with the trading member
The contact person for complaints through SCORES is as under:
Mr. Mahesh Ghadi, DM - Investor Services
Contact No.: 022 22728517
Email id: ISC.Mumbai@bseindia.com
BSE has started following Regional Investor Service Centre at following
locations, to provide Investor Grievance Redressal (IGRC) and Arbitration
Mechanism; to the Investors.
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, Dehradun, Guwahati, Ranchi |
18th October 2016 |
Chandigarh |
25th October 2016 |
Shimla |
22nd November,
2016 |
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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.
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: isc.ahmedabad@bseindia.com
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BSE Investor l Service Centre
Shree Raghavendra Complex No. 184,
3rd Cross, link Road,
Malleshwaram,
Bengaluru - 560003
Telephone No. 080 – 23568444 / 9987976090
Contact person - Mr. Thilakraj Rai
E-mail Id :ISC.Bengaluru@bseindia.com
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BSE Investor Service Centre,
BSE Ltd.
Room No.209, Block A,
2nd Floor, Nirmal Plaza,
1-A-Forest Park,
Bhubaneswar-751020
Tele No.: 0674-2361029 / 7978704644
Contact person - Soumya Ranjan Sahoo
E-mail Id :ISC.Bhubaneshwar@bseindia.com
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BSE Investor Service Centre
SCO 12, 2nd Floor,
Above YES Bank,
Sector 27 C, Chandigarh – 160019.
Tele No. : 0172-2790259/ 9416772259
Contact person: Mr. Hari Das Kaushal /Ms. Uma E-mail Id :
ISC.Chandigarh@bseindia.com
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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 : Ms N. Pavithraa
E-mail Id : ISC.Chennai@bseindia.com
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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 : ISC.Dehradun@bseindia.com
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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 : iscdelhi@bseindia.com
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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: ISC.Guwahati@bseindia.com
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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: ISC.Hyderabad@bseindia.com
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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: ISC.Indore@bseindia.com
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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: ISC.Jaipur@bseindia.com
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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: ISC.Kanpur@bseindia.com
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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 : ISC.Kolkata@bseindia.com
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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 : ISC.Lucknow@bseindia.com
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BSE Investor Service Centre
Cama Building, 1st floor,
Dalal Street,
Fort, Mumbai – 400001.
Tele. No.: 022-22728517 / 22728271
Contact Person: Mr. Mahesh Ghadi
E-mail Id: ISC.Mumbai@bseindia.com
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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 : ISC.Lucknow@bseindia.com
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BSE Investor Service Centre
Cama Building, 1st floor,
Dalal Street,
Fort, Mumbai – 400001.
Tele. No.: 022-22728517 / 22728271
Contact Person: Mr. Mahesh Ghadi
E-mail Id: ISC.Mumbai@bseindia.com
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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: ISC.Patna@bseindia.com
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BSE Investor Service Centre
Unit / Shop No. SW / G-2,
Ground Floor, North Block,
Sacred World, Wanorie,
Pune - 411040.
E-mail : ISC.Pune@bseindia.com |
BSE BSE Investor Service Centre
Ram Naresh Prasad Sharma 4TH Floor,
Vasundhara Mega Mart,
Argora Chowk
Ranchi – 834012 Tele. No. : 0651 -2244138
Contact person: Mr. Vishal Shandilya
Email ID : ISC.Ranchi@bseindia.com |
BSE Investor Service Centre
No. 1, Vishnu Chambers,
Kashi Visheswar Township Flat,
Vishnu Bhawan,
The Mall, Shimla – 171001
Cell. No. : 1772 - 805362
E-mail : ISC.Shimla@bseindia.com
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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 : ISC.Vadodara@bseindia.com |
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