SEBI Circular dated February 15, 2012 - Setting up of Investor Grievance Redressal Mechanism at Stock Exchanges

SEBI Circular dated February 15, 2012

We draw your attention to the SEBI Circular no CIR/MIRSD/2/2012 dated February 15, 2012.

Applicability:

This circular is applicable to all the Stock Exchanges and it is an information being provided to all the investors.

Purpose of this Circular:

To intimate the investors that by the following timelines additional Investor Grievance Redressal Mechanism would be set up by NSE and BSE: 

Sr No	Place where the mechanism is being set up	Date by when the mechanism would be set up
1.	Ahmedabad	March 31, 2012
2.	Hyderabad	March 31, 2012
3.	Kanpur	September 30, 2012
4.	Indore	September 30, 2012

Crux of this circular:

•    With a view to protect the interest of the Investors the stock exchanges had set up the Investor Grievance  Redressal Mechanism.
•    At present NSE and BSE is providing redressal mechanism and arbitration facility at four regions namely  Delhi, Mumbai, Kolkata and Chennai.
•    On examining the number of complaints and the arbitrations filed by the investors the stock exchanges felt  the need to set up few more redressal mechanisms to make it more convenient for the investors to file their grievances and arbitration cases near their places. This mechanism would help in increasing the investor confidence in the stock markets. 
•   These Investor Grievance Redressal Mechanism that would be set up in future shall abide to all the  applicable circulars issued by SEBI in this regard.

SEBI Circular: http://www.sebi.gov.in/cms/sebi_data/attachdocs/1329302960178.pdf