Grievance Redressal Mechanism
Level 1- Approach the Stock Broker at the designated Investor Grievance e-mail ID: grievance@greatventures.in of the stock broker. The Stock Broker will strive to redress the grievance immediately, but not later than 30 days of the receipt of the grievance.
Level 2- Approach the Stock Exchange using the grievance mechanism mentioned at the website of the respective exchange. Complaints Resolution Process at Stock Exchange explained graphically:
Timelines for complaint resolution process at Stock Exchanges against stock brokers
| S.No. | TypeofActivity | Timelinesforactivity |
| 1 | ReceiptofComplaint | Dayofcomplaint(CDay). |
| 2 | Additionalinformationsoughtfromthe | C +7Workingdays. |
| investor, if any, and provisionally forwarded to stock broker. | ||
| 3 | Registration of the complaint and forwarding to the | C+8WorkingDaysi.e.Tday. |
| stock broker. | ||
| 4 | AmicableResolution. | T+15Working Days. |
| 5 | Refer to Grievance Redressal | T+16WorkingDays. |
| Committee(GRC),incaseofnoamicableresolution. | ||
| 6 | Complete resolution process post GRC. | T+30WorkingDays. |
| 7 | IncasewheretheGRCMemberrequires additional information, GRCordershallbecompletedwithin. | T+45WorkingDays. |
| 8 | ImplementationofGRCOrder. | On receipt of GRC Order, if the order is infavourof the investor,debitthefundsof thestockbroker.Orderfordebitisissued |
| immediately or as per the directions given inGRCorder. | ||
| 9 | In case the stock broker is aggrievedbytheGRCorder,willprovideintention toavailarbitration | |
| Within7daysfromreceiptoforder | ||
| 10 | Investor is eligible for interim relief from Investor Protection Fund (IPF).The interim relief will be 50% of the GRC order amount or Rs.2 lakhs whichever is less. The same shall be provided after obtaining an Undertaking from the investor. | |
| Ifintentionfromstockbrokerisreceived and the GRC order amount isuptoRs.20lakhs | ||
| 11 | Within 6 months from the date of GRC recommendation | |
| StockBrokershallfileforarbitration | ||
| 12 | TheGRCorderamountshallbereleasedto | |
| Incasethestockbrokerdoesnotfilefor arbitrationwithin6months | the investor after adjusting the amount released as interim relief, if any. |
Handling of Investor's claims / complaints in case of default of a Trading Member /Clearing Member (TM/CM)
FollowingstepsarecarriedoutbyStockExchangeforbenefitofinvestor,incasestockbrokerdefaults:
- Circularisissuedtoinformaboutdeclarationof StockBrokerasDefaulter.
-
InformationofdefaulterstockbrokerisdisseminatedonStockExchangewebsite.
- PublicNoticeisissuedinformingdeclarationofastockbrokerasdefaulterandinvitingclaimswithinspecifiedperiod.
- IntimationtoclientsofdefaulterstockbrokersviaemailsandSMSforfacilitatinglodgingofclaimswithinthespecifiedperiod.
FollowinginformationisavailableonStockExchangewebsiteforinformationofinvestors:
- NormsforeligibilityofclaimsforcompensationfromIPF.
- Claimformforlodgingclaimagainstdefaulterstockbroker.
- FAQonprocessingofinvestors’claimsagainstDefaulterstockbroker.
- Provisiontocheckonlinestatusofclient’sclaim.
Level 3- The complaint not redressed at Stock Broker / Stock Exchange level, may be lodged with SEBI on SCORES (a web based centralized grievance redressal system of SEBI)