SECURITIES AND EXCHANGE BOARD OF INDIA
SECONDARY MARKET DEPARTMENT
Mittal Court, A Wing, Gr. Floor,
224, Nariman Point, Mumbai 400 021
SMD/POLICY/CIR-20/97
August 12, 1997
TO,
The Executive Director/President/Managing Director
of all Stock Exchanges
Dear Sir,
This is with reference to the reporting of complaints against brokers by the stock exchanges. For monitoring the complaints redressal mechanism more effectively, it has been decided that stock exchanges shall send a Monthly Status Report of Complaints against Brokers in enclosed format instead of sending replies on a case to case basis. Reports on individual cases shall be given by stock exchanges as and when asked by SEBI separately.
The format for ‘Monthly report on redressal of investor grievances’ is segregated into three parts :
Part A: Summary of total Complaints of last six months.
Part B: Summary of total Arbitration cases of last six months
Part C: Details of SEBI referred Complaints resolved during the month.
Part D: Details of SEBI referred Complaints pending more than 4 months with reasons.
This procedure shall be implemented immediately from the month of September 1997 and the Monthly status report should be sent before 5th of every month. These reports shall be sent by different Stock Exchanges to respective Regional Offices of SEBI. Stock Exchanges in Western Regional Office shall send this report to Head Office of SEBI.
Yours faithfully,
O. P. GAHROTRA
SENIOR EXECUTIVE DIRECTOR
SECONDARY MARKET DEPARTMENT
Encl: as above
CC: a) Chairman’s Secretariat
b) All Executive Directors, Division Chiefs and Regional Managers of SEBI
c) All SEBI Nominee Directors on the Board of Exchanges.
A.. SUMMARY OF TOTAL COMPLAINTS OF LAST 6 MONTHS
| Particulars for last six Months | MAR | APR | MAY | JUN | JUL | AUG | |||
| Opening Balance | Referred by Sebi (1) | ||||||||
| of the complaints | Received Directly by exchange (2) | ||||||||
| Total (3) | |||||||||
| Complaints Received | Referred by Sebi (4) | ||||||||
| during the month | Received Directly by exchange (5) | ||||||||
| Total (6) | |||||||||
| Complaints Resolved | Referred by Sebi * (7) | ||||||||
| during the month | Received Directly by exchange (8) | ||||||||
| Total (9) | |||||||||
| Closing Balance | Referred by Sebi * (10) | ||||||||
| of the complaints | Received Directly by exchange(11) | ||||||||
| Total (12) | |||||||||
| Complaints | Referred by Sebi * (13) | ||||||||
| pending more
than 4 months |
Received Directly by exchange(14) | ||||||||
| Total (15) | |||||||||
* Note: Complaints referred to arbitration shall be treated as unresolved till the time of final arbitration award has been passed
B.. sUMMARY OF TOTAL ARBITRATION CASES OF LAST 6 MONTHS
| Particulars for last six Months | MAR | APR | MAY | JUN | JUL | AUG | ||
| Opening Balance of Arbitration cases | ||||||||
| No. of cases referred to Arbitration during the month | ||||||||
| No. of Awards passed during the month | ||||||||
| Closing Balance of Arbitration cases | ||||||||
| Arbitration cases pending more than four months | ||||||||
C. Details of SEBI referred complaints resolved during the month
(As specified under Table A – Row No.7)
| Sl. No. | Complainant | Complaint against | SEBI Ref No. | Details of redressal |
D. Details of SEBI referred complaints* pending more than 4 months(As specified under Table A – Row No.13)
| Sl. No. | Date of receipt of complaints by Stock exchange | Complainant | Complaintagainst | SEBI Ref No. | Reasons for pendancy and Course of action taken by the exchange. |
*Note: Complaints referred to arbitration shall be treated as unresolved till the time of final arbitration award has been passed
