TMI BlogInvestor Grievance Redressal MechanismX X X X Extracts X X X X X X X X Extracts X X X X ..... 2. Resolution of complaints by Stock Exchange i.Timeline Stock Exchange shall ensure that the investor complaints shall be resolved within 15 working days from the date of receipt of the complaint. Additional information, if any, required from the complainant, shall be sought within 7 working days from the date of receipt of the complaint. The period of 15 working days shall be counted from the date of receipt of additional information sought. Stock Exchange shall maintain a record of all the complaints addressed/redressed within 15 working days from the date of receipt of the complaint/additional information. If complaint is not resolved within stipulated time frame, then the reason for non redressal in given time frame sha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cting the same from the member and/ or the complainant and provide necessary assistance to IGRC to ensure resolution of complaints in a timely manner. 3. Handling of complaints by IGRC i. IGRC shall have a time of 15 working days to amicably resolve the investor complaint through conciliation process. If IGRC needs additional information, then IGRC may request the Stock Exchange to provide the same before the initiation of the conciliation process. In such case, where additional information is sought, the timeline for resolution of the complaint by IGRC shall not exceed 30 working days. ii. IGRC shall not dispose the complaint citing Lack of Information and complexity of the case . The IGRC shall give its recommendation to Stock ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on. 5. The stock exchanges are advised to: - a) make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately; b) bring the provisions of this circular to the notice of the members of the stock exchange and also to disseminate the same through their website; and c) communicate to SEBI, the status of implementation of the provisions of this circular in the Monthly Development Reports to SEBI. 6. This Circular is issued in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 read with Section 10 of the Securities Contract (Regulation) Act, 1956 to protect the interests of investors in securitie ..... X X X X Extracts X X X X X X X X Extracts X X X X
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