| 1. |
Receipt of Complaint |
Day of complaint (C Day). |
| 2. |
Additional information sought from the investor, if any, and provisionally forwarded to stock broker. |
C + 7 Working days. |
| 3. |
Registration of the complaint and forwarding to the stock broker. |
C+8 Working Days i.e. T day. |
| 5. |
Refer to Grievance Redressal Committee (GRC), in case of no amicable resolution. |
T+16 Working Days. |
| 6. |
Complete resolution process post GRC. |
T + 30 Working Days. |
| 7. |
In case where the GRC Member requires additional information, GRC order shall be completed within. |
T + 45 Working Days. |
| 8. |
Implementation of GRC Order. |
On receipt of GRC Order, if the order is in favour of the investor, debit the funds of the stock broker. Order for debit is issued immediately or as per the directions given in GRC order. |
| 9. |
In case the stock broker is aggrieved by the GRC order, will provide intention to avail arbitration |
Within 7 days from receipt of order |
| 10. |
If intention from stock broker is received and the GRC order amount is upto Rs.20 lakhs |
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 and Undertaking from the investor. |
| 11. |
Stock Broker shall file for arbitration |
Within 6 months from the date of GRC recommendation |
| 12. |
In case the stock broker does not file for arbitration within 6 months |
The GRC order amount shall be released to the investor after adjusting the amount released as interim relief, if any. |
