05.01.2007
N O
T I C E
It is hereby informed that
SEBI vide its Circular no. MRD/DoP/Dep/SE/Cir-22/06 dated 18th December
2006 had intimated the Exchange for redressal of Investor Complaint through
e-mail. The said Circular is reproduced below: -
“GENERAL
MANAGER
MARKET
REGULATION DEPARTMENT
MRD/DoP/Dep/SE/Cir-22/06
December 18, 2006
1. All Stock Exchanges
2. NSDL
3. CDSL
Dear Sir/s,
1.
SEBI has been mandated, inter-alia,
under the SEBI Act, 1992 to protect the interests of investors in the Indian
securities market. To this end, several investor protection measures and
regulatory reforms have been initiated by SEBI from time to time for the
benefit of investors and to make the Indian securities market a more
transparent and safer place for their investments.
2.
In the recent past,
SEBI has been receiving representations from various investors requesting for a
direct and quicker forum for enabling them to register their complaints
expeditiously with the intermediaries/listed companies/stock exchanges. It has
also been observed in several cases that pursuant to registering a complaint,
the investors do not have any mode for a follow-up or monitoring the processing
of their complaints.
3.
In order to address the aforesaid
representations, it is felt desirable to designate an exclusive e-mail ID of
the grievance redressal division / compliance officer in which the investors
would be able to register their complaints and also take necessary follow-up
actions as necessary. Such a process would not only expedite the redressal of
the complaints of the investors but also enable several investors across the
country to register their complaints through a single, centralized, exclusive
e-mail ID that is designated for the purpose.
4. Accordingly, all the stock exchanges/registered
brokers/registered sub- brokers/listed companies/depositories/registered
depository participants are advised to designate an e-mail ID of the grievance
redressel division/compliance officer exclusively for the purpose of
registering complaints by investors. The above entities are also advised to
display the email ID and other relevant details prominently on their websites
and in the various materials/pamphlets/advertisement campaigns initiated by
them for creating investor awareness.
5.
The Stock Exchanges are advised to :
5.1 make necessary amendments to the relevant bye-laws,
rules and regulations and clauses of the listing agreement for the
implementation of the above decision immediately;
5.2 bring the provisions of this circular to the notice
of the member brokers/clearing members of the exchange/listed companies and
also to disseminate the same on their websites; and
5.3 communicate to SEBI, the
status of the implementation of the provisions of this circular in the Monthly
Development Report.
6. The
depositories are advised to:-
6.1 bring the provisions of this
circular to the notice of the DPs of the depositories and also to disseminate
the same on their websites;
6.2 include the details of the
e-mail ID in the advertisement campaigns released by them from time to time for
better understanding of the investors;
6.3 make necessary amendments to the
relevant bye-laws and business rules for the implementation of the above
decision immediately, as may be applicable/necessary; and
6.4 communicate to SEBI, the status
of the implementation of the provisions of this circular in the Monthly
Development Report
7.
This circular is being issued in
exercise of the powers conferred by Section 11 (1) of Securities and Exchange
Board of India Act, 1992 to protect the interest of investors in securities and
to promote the development of, and to regulate, the securities market.
Yours faithfully,
V S
SUNDARESAN”
Accordingly the Exchange
has created an e-mail ID for redressal of Investor Complaint, which is as
follows: -
(Secretary)