The process devised by helpline for follow up and grievance redressal can be broadly understood by studying the following stages:

Stage 1 – Registration

Stage 2

  • The Helpline will thereafter scrutinize the Grievance and forward it to the concerned company/entity for action (the grievance form will be enclosed along with the letter) along with copies to other regulators, as and when deemed fit by us.
     
  • In appropriate cases Investor Helpline can ask for the supporting documents before processing the grievance. The documents required needs to be submitted or furnished within a stipulated time period and if the investor fails to furnish the required documents then the Investor Helpline reserves the right to reject the grievance.

Stage 3 – The Helpline will then wait for a period of thirty days for the concerned entities to take requisite action. After the expiry of the said period, Helpline will forward the grievance to the concerned Regulator i.e. (Exchange or ROC).

Stage 4 – After forwarding once to the Regulator the Helpline will again wait for a period of 30 days. If no response is received from the company within the stipulated period, Helpline will again take up the matter with the authority to which we have approached in Stage 3.

Stage 5 - Here again Helpline will wait for a period of 45 days for the redressal of grievance and thereafter will again update the status.

Stage 6 – If the grievance is not redressed within 105 days of filing, the helpline will approach the regulator for intervention and quick redressal of the grievance. AS IT IS A VERY SENSITIVE MATTER, HELPLINE WILL APPROACH THE REGULATOR ONLY AFTER GETTING CONFIRMATION FROM THE INVESTOR THAT HIS/HER GRIEVANCE IS STILL PENDING. (INVESTOR HAS BEEN PROVIDED WITH A FACILITY TO UPDATE THE STATUS IN track grievance status LINK ONLINE).

Stage 7 – The Helpline will, however, after pursuing the case for six months take up such case with the regulators/authorities in a consolidated manner for appropriate action and reforms.

After acceptance of grievance, Investor Helpline can mark a grievance as ‘Beyond Investor Helpline’, where during follow up process, it comes across information, through some authenticate source like ROC, Exchange etc., that the following proceedings are going on :
  • Judicial or,
  • Quasi Judicial i.e. with Company Law Board, reference to SICA (Sick Industrial Companies Act,1985)/BIFR ( Board for Industrial and Financial Reconstruction ) etc or,
  • Liquidation proceeding or company has already been liquidated.
  • Whereabouts of the company not known: Mails sent to the company at its last known address have returned to us as undelivered.

Reasons for Rejection of Grievances

  • Incorrect information
  • Incomplete information
  • Filed more than once
  • Pre mature grievances
  • Cases against intermediaries
  • Unclear Grievances
  • Inconsistent/contrasting information
  • Lodged under incorrect form type (IH offers eleven different types of grievance form)
  • Contains junk data
  • Failure to furnish requested documents 
  • Online trading