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INVESTOR GRIEVANCE
COMPLAINT &

ARBITRATION PROCEEDING

Investor Grievance
1. 2. Investor Grievance against Listed Company Investor Grievance against Members Broker

Instruction of SEBI

Investor

An individual who invest his money with the expectation of financial return.

Grievance

Grievance is an uneasiness or a wrong suffered by an individual.

Investor Grievance

Investor Grievance is a wrong or uneasiness suffered by the investors.

Listed company

Firm whose shares are listed (quoted) on a stock exchange for public trading. It is also called quoted company.

INVESTOR GRIEVANCES AGAINST LISTED COMPANY

DISPUTES AGAINST THE COMPANY LIKE: - NON-TRANSFER/ DELAYED TRANSFER/ NON TRANSMISSION DELAYED TRANSMISSION SHARES - NON-RECEIPT/ DELAYED RECEIPT OF DIVIDEND/ BONUS SHARES/ RIGHTS SHARES.

Contd
-NON-RECEIPT OF BALANCE SHEET - NON PROVIDING OF INFORMATION/ DOCUMENTS AS THE COMPANIES ARE REQUIRED TO PROVIDE UNDER THE LISTING AGREEMENT OR UNDER THE

Procedure to be Followed

Filed in concerned Exchange where dispute has arisen.

Forward to Concerned listed company against whom complaint is filed.

The Exchange will advise to resolve it with in 45 days.

The Reminder is again sent to the company to resolve in 30 days

The Exchange will give advise to appear company's officials in Investor Grievance committee

Trading is suspended till the matter is resolved

Exchange will forward the Matter to SEBI

SEBI imposes penalties of Rs.1 lac per day from delay & maximum to 1 crore is which ever is less

The Company can Appeal to SAT

SECURITIES APPELLATE TRIBUNAL

Composition
. A Securities

Appellate Tribunal shall consist at least of two members, one of whom shall be appointed as the Presiding Officer of the Securities Appellate Tribunal, as may be appointed by a notification issued by the Central Government.

Qualification of Presiding Officer

A person shall not be qualified for appointment as the Presiding Officer or as member of a Securities Appellate Tribunal unless he-

is, or has been, or is qualified to be, a judge of a High

Court; or (b) has held office as the Presiding Officer of a Tribunal for at least five years.
has held office as an officer in the legal department of the Government or a statutory corporation or the Board for a period of not less than 10 years and has knowledge and experience of securities laws.

Procedure for filing the appeal

1. An appeal shall be presented in the set format by the
Appellant either in person to the registrar of the Tribunal within whose jurisdiction his case falls. 2. Where the appellant is company an appeal may be preferred :(a) By one or more legal practitioner duly authorized. (b) By any of the officers of such company to act as Presiding Officers. 3 Where the appellant is other than a company he may prefer an appeal in person or by his agent or by a duly authorized legal practitioner.

FEE
Every appeal shall be accompanied with a fee. And such fee may be submitted Either in the form of crossed demand draft drawn on a Nationalized Bank in favour of the Registrar and payable at the station where the Registrar office is situated. Either through a crossed Postal order drawn in favour of the Registrar and payable in Central Post Office of the station where the Appellate Tribunal is located.
or

LIMITATIONS FOR FILING AN APPEAL

Every appeal shall be filed within a period of forty-five days from the date on which a copy of the order is received by the appealing party

FUNCTIONS
Entertain Appeal Conduct Enquiry Investigation

POWERS OF TRIBUNAL
(a) summoning and enforcing the attendance of any person and examining him on oath. (b) requiring the discovery and production of documents. (c) receiving evidence on affidavits. (d) issuing commissions for the examination of witnesses or documents (e) reviewing its decision. (f) dismissing an application for default or deciding it ex-parte. (g) setting aside any order of dismissal of any application for default or any order passed by it ex-parte. (h) any other matter which may be prescribed.

APPEAL BEFORE SUPEREME COURT

Appeal of Securities Appellate tribunal (SAT) before Supreme Court should be within 60 days from the order of SAT

INVESTOR GRIEVANCES AGAINST MEMBER BROKER

DISPUTES AGAINST THE MEMBER BROKER LIKE:
- NON-RECEIPT OF SHARES IN TIME - NON-RECEIPT OF PAYMENT - NON REEIPT OF CONTRACT NOTE ETC

Procedure Followed

Complaint must be Filed in

Concerned

Limitation period for filing the complaint is 6 months

Then the said complaint is forward to the Concerned member

will ask the

member to give clarification in 7 days

will send a reminder to the member , if he refuses to give clarification or does not appear within a period he will be considered ex parte

Then the matter is placed before the Investor Grievance Committee

Both parties present their case before the Committee

Committee will Decide the matter on merits

There is an Appeal of order passed by the committee before the board but it must be with in 30 days of the order

If the member broker refuses to accept the decision of the Board then Disciplinary Action is taken against him

An Appeal is lied before the Arbitration

ARBITRATION
It

is a legal technique for the resolution of dispute out side the court. Wherein the parties to a dispute refer it to one or more person the Arbitrator. It is a settlement technique in which third party review the case and imposes a decision that is legally binding on both parties

ARBITRATION

ANY DISPUTE RELATING TO CLAIM, DIFFERENCES WITH ANY BROKER/ SUB- BROKER/ TRADING MEMBER ETC., CAN BE REFERRED TO ARBITRATION

PROCEDURE OF ARBITRATION

Send list of the members of the Arbitration to both parties Appointment of Arbitrator Appear before the Arbitrator Present their case Record Evidence and Cross Decision on Merits