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Investor Service Cell in Exchanges and Stock Market

• Investor Services Cell

This is where the investors need to go in order to get justice in concern to the complaints of the professional entities or corporate organizations or for any NSE members etc.? Investors often don’t have any idea for with whom should they go and talk to in these kind of cases. They simply don’t know where to file a complaint or from where should they be expecting justice! In many cases investors are confused regarding a grievance while dealing with some financial products. Forget about the procedures, many times they fail to approach the right person , right ways , etc. and thus it results in frustration.

In this scenario, Investor Services Cell Exchanges comes in play. They provide the right procedural steps to follow in order to deal with the situation and come to an appropriate conclusion. Obviously, it also has some limitations to resolve the dispute. In order to handle it successfully, there are various Investor Services Cell Centres Exchanges at different specific locations.

Like NSE (National Stock Exchange) has specific Investor Cell Centres in all the major cities of India. It includes the corporate office which is located at Bandra ,Mumbai. There are branch offices in Chennai, Delhi , Kolkata, Hyderabad etc. So investors can use these services centres if they need to, at any point of time. So every exchange provides these services at different locations for the investors to resolve any disputes , according to their procedure and mechanism. Thus making it easy to file complaints and follow the further required analysis . One can contact them if required by phone number or can simply go to the provided address.

It is way of increasing the protection of investors and empowering them in their best interests. As for example , NSE primary goals and objectives it to provide the best protection interests in the right way. As far as anything is concerned to the investors, they do play a vital role in the stock market. A stock broker equally gets effected because of filing of complaints , as the investor will not only file a complaint against the corporate but to the members of the exchange also. As stock broker is involved in the process of investment and execution of selling and buying the shares. He is answerable in such cases, because he/she is the middleman in all of these transactions.

Exchanges provides high priority for resolution of investor complaints and then the activities of the Investors Services Cell are supervised by various committee and sub-committee members for further investigation. Yes, they do have committee members in order to do so. They are formed exclusively for this purpose only.

The Investor Services Cell provides the required administrative assistance for the future proceedings in order to solve the cases that are under the Exchange’s Arbitration Framework . Also, Investor Grievance Resolution Panel in order to resolving the queries of investors , resolutions and provides Arbitration mechanism for settlement of dispute occurred. At each and every Investor Services Cell (ISC) centre, Exchange has constituted Investor Grievance Resolution Panel (IGRP) .

In NSE, whatever complaints which will not get resolved within 15 days from the date when complaint was registered with Exchange or cases where parties will mutually resolve the dispute within themselves would have to referred to IGRP also. There are different panels at different locations consisting of IGRP members.

There are few steps suggested by SEBI (Securities and Exchange Board of India) in redress the mechanism of grievance :

1. Contact the company or the intermediate : Keep documents updated about what went wrong and collect all the points that prove that your complaint is true (include dates, conversations etc.)
2. If your complaint is not been addressed soon then you can just lodge your complaint on SCORES (SEBI complaint Redress System ) through the link they have provided on their official website.
3. As SCORES is an online platform, you can access it anytime, anywhere . If any investor does not have access to file a complaint online then they can register it by going physically into the given address to any offices of SEBI. The documents provided by the investor will be scanned and uploaded for further process.
4. All the complaints are saved in central database which generates relevant report.

Apart from all these process, SEBI provides types of complaints that they usually handle.

• Complaints against SEBI registered entities: They may include Stock broker/Authorized agent , Stock Exchange , Debenture trustees etc.
• Listed companies

They also have limitations in handling the complaints :

For example . SEBI cannot handle the complaints regarding the unlisted, delisted , liquidated or any sick companies. Complaints that are sub-judice. Complaints that fall under the category of regulatory bodies like RBI, IRDA etc.

There are far much more than this while lodging any complaints. This is just a small part of the picture that I discussed above.