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ISE has established the Investors’ Grievances Redressal Department (IGRD) to redress investors' grievances. The IGRD plays a proactive role in enhancing and maintaining investors' faith and confidence by resolving their grievances either against ISE’s listed companies or its Trading Members.
Empowerment of investor through guidance, education and protection of interest of investors is one of the primary objectives of ISE. To cater to the needs of investors, ISE has established its IGRD at Navi Mumbai, Kolkata, Coimbatore and New Delhi.
The IGRD guides the investor not only for the resolution of their complaints / grievances but also takes care of the investor’s doubts and inquiry/information required by the investor at the primary level so as to enhance the confidence of the investor in security market.
ISE has accorded high priority for resolution of investor complaints and therefore the activities of Investors’ Grievances Department are supervised by Investors’ Services Committee.
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| Investors' complaints against listed companies shall be forwarded by IGRD within 5 working days to the concerned companies. |
| The complaints received from Investors shall be tackled at regional level and Investors can file their complaints at regional IGRD for easy and speedy disposal of complaints. |
| 1) The IGRD shall issue a token number for each complaint and also enter the same in the register. |
| 2)Details of complaints shall be uploaded on ISE’s website for disclosure to investors in the format prescribed in SEBI Circular no.MRD/DoP/SE/Cir-10/2009 dated 03-09-2009 namely: Report 2–A, B, C. |
| 3) As per SEBI Circular no.MRD/DoP/SE/Cir-10/2009 dated 03-09-2009 Report 2-A shall be updated on weekly basis and Report 2–B & C shall be updated on quarterly basis. |
| 4) a. The Manager-IGRD shall be responsible for maintaining the records of inward and outward correspondence /complaints received from investors /complainants. |
| b. Respective body Corporate/it’s R & T agent shall directly respond to the Investor with a copy marked to ISE. |
| c. The Investor shall be advised to inform IGRD whether he is satisfied with the reply, if not the same shall be reported to ISE within 7 working days of receipt of reply from the body Corporate/it’s R & T agent. |
| 5) If concerned company fails to redress the complaint within 15 working days, IGRD shall send a reminder to the company. If there is still no response, IGRD shall follow up, after 15 days, with the company and/ or it’s R & T Agent to resolve such complaint. |
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| Investors' complaints against Trading Members shall be forwarded by IGRD within 5 working days to the concerned T.M. |
| Investors shall be expected to submit their complaints in the prescribed Complaint Format to the IGRD, along with necessary supporting documents. |
| 1. The IGRD shall issue a token number for each complaint and also enter the same in the register. |
| 2. Details of complaints shall be uploaded on ISE’s website for disclosure to investors in the format prescribed in SEBI Circular no.MRD/DoP/SE/Cir-10/2009 dated 03-09-2009 namely: Report 1–A, B, C. |
| 3. As per SEBI Circular no.MRD/DoP/SE/Cir-10/2009 dated 03-09-2009 Report 1-A shall be updated on weekly basis and Report 1–B & C shall be updated on quarterly basis. |
| 4. a. The Manager-IGRD shall be responsible for maintaining the records of inward and outward correspondence /complaints received from clients/complainants. |
| b. Respective Trading Member shall directly respond to the Investor with a copy marked to ISE. |
| c. The Investor shall be advised to inform IGRD whether he is satisfied with the reply, if not the same shall be reported to ISE within 7 working days of receipt of reply from the Trading Member. |
| 5. If concerned Trading Member fails to redress the complaint within 15 working days, IGRD shall send a reminder to the Trading Member. If there is still no response, IGRD shall follow up, after 15 days, with the Trading Member to resolve such complaint. |
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| ISE has constituted an Investors’ Services Committee comprising of ISE Directors to oversee/ supervise the investor’s grievance redressal mechanism of ISE. |
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| 1) IGRC shall convene meetings to redress pending investor complaints. ISE shall send notice to both the parties to remain present before the meeting of IGRC. |
| 2) During these meetings IGRC shall mediate and counsel the disputing parties for finding amicable solution. In case, an amicable solution cannot be reached, IGRC may suggest the parties to opt for an arbitration, if they so desire. |
| 3) IGRC shall record the final outcome in the matter in the form of minutes, a copy of which shall be handed over to the parties or mailed to an absent party. |