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
