Investor Charter of Depository Participant
VISION
Towards
making Indian Securities Market – Transparent, Efficient, & Investor
friendly by providing safe, reliable, transparent and trusted record keeping platform
for investors to hold and transfer securities in dematerialized form.
MISSION
- To
hold securities of investors in dematerialised
form and facilitate its transfer, while ensuring safekeeping of securities
and protecting interest of investors.
- To
provide timely and accurate information to investors with regard to their
holding and transfer of securities held by them.
- To provide the highest standards of investor education,
investor awareness and timely services so as to enhance Investor
Protection and create awareness about Investor Rights.
Details of business
transacted by the Depository and Depository Participant (DP)
A Depository is an organization which holds securities of investors in
electronic form. Depositories provide services to various market participants –
Exchanges, Clearing Corporations, Depository Participants (DPs), Issuers and
Investors in both primary as well as secondary markets. The depository carries
out its activities through its agents which are known as Depository
Participants (DP). Details available on the link: NSDL:-
https://nsdl.co.in/dpsch.php
CDSL :- https://www.cdslindia.com/DP/dplist.aspx
4. Description of
services provided by the Depository through Depository Participants (DP) to
investors
(1) Basic Services
|
S.No. |
Brief about the Activity / Service |
Expected Timelines for processing by the DP
after receipt of proper documents |
|
1 |
Dematerialization of securities |
7 days |
|
2 |
Rematerialization of securities |
7 days |
|
3 |
Mutual Fund Conversion / Destatementization |
5 days |
|
4 |
Re-conversion / Restatementisation
of Mutual fund units |
7 days |
|
5 |
Transmission of securities |
7 days |
|
6 |
Registering pledge request |
15 days |
|
7 |
Closure of demat
account |
30 days |
|
8 |
Settlement Instruction |
Depositories to accept physical DIS for
pay-in of securities upto 4 p.m. and DIS in
electronic form up to 6 p.m. on T+1 day |
(2)
Depositories provide special services like pledge, hypothecation, internet based services etc. in addition to their core
services and these include
|
S.No. |
Type of Activity /Service |
Brief about the Activity / Service |
|
1 |
Value Added Services |
Depositories also provide value added
services such as |
|
2 |
Consolidated Account statement (CAS) |
CAS is issued 10 days from the end of the
month (if there were transactions in the previous month) or half yearly (if
no transactions). |
|
3 |
Digitalization of services provided by the
depositories |
Depositories offer below technology
solutions and e-facilities to their demat account
holders through DPs: |
5 Details of Grievance Redressal Mechanism
(1) The Process of investor grievance redressal
|
1. |
Investor Complaint/ Grievances |
Investor can lodge complaint/ grievance
against the Depository/DP in the following ways: |
|
2 |
Investor Grievance Redressal Committee of
Depository |
If no amicable resolution is arrived, then
the Investor has the option to refer the complaint/ grievance to the
Grievance Redressal Committee (GRC) of the Depository. Upon receipt of
reference, the GRC will endeavor to resolve the complaint/ grievance by
hearing the parties, and examining the necessary information and documents. |
|
3 |
Arbitration proceedings |
The Investor may also avail the arbitration
mechanism set out in the Byelaws and Business Rules/Operating Instructions of
the Depository in relation to any grievance, or dispute relating to
depository services. The arbitration reference shall be concluded by way of
issue of an arbitral award within 4 months from the date of appointment of
arbitrator(s). |
(2) For the Multi-level complaint resolution mechanism available at
the Depositories9
6. Guidance pertaining
to special circumstances related to market activities: Termination of the
Depository Participant
|
S.No. |
Type of special circumstances |
Timelines for the Activity/ Service |
|
1 |
Depositories to terminate the participation
in case a participant no longer meets the eligibility criteria and/or any
other grounds as mentioned in the bye laws like suspension of trading member
by the Stock Exchanges. |
Client will have a right to transfer all its
securities to any other Participant of its choice without any charges for the
transfer within 30 days from the date of intimation by way of letter/email. |
7. Dos and Don’ts for Investors10
8. Rights of investors11
9. Responsibilities of Investors12
Annexure C
Investor
Complaints Data – Depository Participants
Data
for Every Month Ending – May,2022
|
S.No |
Received from |
Carried forward from previous month |
Received during the month |
Total Pending |
Resolved* |
Pending at the end of the month** |
Average Resolution time^ (in days) |
|
|
Pending for less than 3 months |
Pending for more than 3 months |
|||||||
|
1 |
Directly from Investors |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
2 |
SEBI (SCORES) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
3 |
Depositories |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
4 |
Other Sources (if any) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
5 |
Grand Total |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
Trend
of monthly disposal of complaints
|
S.No |
Month |
Carried forward from previous month |
Received |
Resolved* |
Pending** |
|
1 |
2 |
3 |
4 |
5 |
6 |
|
1 |
Apr-2021 |
0 |
0 |
0 |
0 |
|
2 |
May-2021 |
0 |
0 |
0 |
0 |
|
3 |
Jun-2021 |
0 |
0 |
0 |
0 |
|
4 |
Jul-2021 |
0 |
0 |
0 |
0 |
|
5 |
Aug-2021 |
0 |
0 |
0 |
0 |
|
6 |
Sep-2021 |
0 |
0 |
0 |
0 |
|
7 |
Oct-2021 |
0 |
0 |
0 |
0 |
|
8 |
Nov-2021 |
0 |
0 |
0 |
0 |
|
9 |
Dec-2021 |
0 |
1 |
1 |
0 |
|
10 |
Jan-2022 |
0 |
0 |
0 |
0 |
|
11 |
Feb-2022 |
0 |
0 |
0 |
0 |
|
12 |
Mar-2022 |
0 |
0 |
0 |
0 |
|
12 |
April-2022 |
0 |
0 |
0 |
0 |
|
13 |
May-2022 |
0 |
0 |
0 |
0 |
*Should
include complaints of previous months resolved in the current month, if any.
**Should include total complaints pending as on the last day of the month, if any.
^Average resolution time is the sum total of time taken to resolve each
complaint in the current month divided by total number of complaints resolved
in the current month.
Trend
of Annual disposal of complaints
|
S.No. |
Year |
Carried forward from previous year |
Received during the year |
Resolved during the year |
Pending at the end of the year |
|
1 |
2017-18 |
0 |
0 |
0 |
0 |
|
2 |
2018-19 |
0 |
0 |
0 |
0 |
|
3 |
2019-20 |
0 |
0 |
0 |
0 |
|
4 |
2020-21 |
0 |
0 |
0 |
0 |
|
5 |
2021-22 |
0 |
0 |
0 |
0 |
|
6 |
2022-23 |
0 |
0 |
0 |
0 |
|
7 |
Grand Total |
0 |
0 |
0 |
0 |