Towards making the Indian Securities Market - Transparent, Efficient, & Investor friendly by providing a safe, reliable, transparent and trusted record-keeping platform for investors to hold and transfer securities in dematerialized form.
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 https://www.cdslindia.com/DP/dplist.aspx
Brief about the Activity / Service | Expected Timelines for processing by the DP after receipt of proper documents |
---|---|
Dematerialization of securities | 7 days |
Rematerialization of securities | 7 days |
Mutual Fund Conversion / Destatementization | 5 days |
Re-conversion / Restatementisation of Mutual Fund units | 7 days |
Transmission of securities | 7 days |
Registering pledge request | 15 days |
Closure of demat account | 30 days |
Settlement Instruction |
For T+1 day settlements, Participants shall accept
instructions from the Clients, in physical form up
to 4 p.m. (in case of electronic instructions up to
6.00 p.m.) on T day for pay-in of securities.
For T+0 day settlements, Participants shall accept
EPI instructions from the clients, till 11:00 AM on
T day.
Note: ‘T’ refers ‘Trade Day’ |
Type of Activity / Service | Brief about the Activity / Service |
---|---|
Value Added Services |
Depositories also provide value-added services such
as:
|
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). |
Digitalization of services provided by the depositories | Depositories offer below technology solutions and e-facilities to their demat account holders through DPs: |
Step | Details |
---|---|
1. Investor Complaint / Grievances |
Investor can lodge complaints/grievances against the
Depository/DP in the following ways:
|
2. Investor Grievance Redressal Committee of Depository | If no amicable resolution is reached, the Investor may refer the complaint/grievance to the Grievance Redressal Committee (GRC) of the Depository. 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. The arbitration reference shall be concluded with an arbitral award within 4 months from the date of appointment of the arbitrator(s). |
Type of special circumstances | Timelines for the Activity/ Service |
---|---|
|
|
This document contains the contents pertaining to the qualifier Investor Charter main document . The same is to be made available by the Depositories on their websites, and web-links to the same are to be provided for incorporation in the Investor Charter.
For reasons of convenience, the contents in main Charter and this document have been mapped with the same superscript.
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
Point 2 (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).
not indulge in unfair competition, which is likely to harm the interests of any other Depository, their participants or investors or is likely to place them in a disadvantageous position while competing for or executing any assignment.
segregate roles and responsibilities of key management personnel within the depository including
To follow highest standards of ethics and compliances while facilitating the trading by clients in securities in a fair and transparent manner, so as to contribute in creation of wealth for investors.
Topic | Expected Timelines |
---|---|
KYC entered into KRA System and CKYCR | 10 days of account opening |
Client Onboarding | Immediate, but not later than one week |
Order execution | Immediate on receipt of order, but not later than the same day |
Allocation of Unique Client Code | Before trading |
Copy of duly completed Client Registration Documents to clients | 7 days from the date of upload of Unique Client Code to the Exchange by the trading member |
Issuance of contract notes | 24 hours of execution of trades |
Collection of upfront margin from client | Before initiation of trade |
Issuance of intimations regarding other margin due payments | At the end of today |
Settlement of client funds | 30 days / 90 days for running account settlement (RAS) as per the preference of client. If consent not given for RAS – within 24 hours of pay-out |
Statement of Accounts for Funds, Securities and Commodities | Weekly basis (Within four trading days of following week) |
Issuance of retention statement of funds/commodities | 5 days from the date of settlement |
Issuance of Annual Global Statement | 30 days from the end of the financial year |
Investor grievances redressal | 30 days from the receipt of the complaint |
DOs | Don'ts |
---|---|
Read all documents and conditions being agreed before signing the account opening form. | Do not deal with unregistered stock broker. |
Receive a copy of KYC, copy of account opening documents and Unique Client Code | Do not forget to strike off blanks in your account opening and KYC. |
Read the product / operational framework / time lines related to various Trading and Clearing & Settlement processes. | Do not submit an incomplete account opening and KYCform. |
Receive all information about brokerage, fees and other charges levied. | Do not forget to inform anychange in information linked to trading account and obtain confirmation of updation in the system. |
Register your mobile number and email-ID in your trading, demat and bank accounts to get regular alerts on your transactions | Do not transfer funds, for thepurposes of trading to any one other than a stock broker. Nopayment should be made in name of employee of stock broker. |
If executed, receive a copy of Power of Attorney. However, Power of Attorney is not a mandatory requirement as per SEBI / Stock Exchanges. Before granting Power of Attorney, carefully examine the scope and implications of powers being granted. | Do not ignore any emails / SMS received with regards to trades done, from the Stock Exchange and raise a concern, if discrepancy is observed. |
Receive contract notes for trades executed, showing transaction price, brokerage, GST and STT etc. as applicable, separately, within 24 hours of execution of trades. | Do not opt for digital contracts, if not familiar with computers. |
Receive funds and securities / commodities on time within 24 hours from pay-out. | Do not share trading password. |
Verify details of trades, contract notes and statement of account and approach relevant authority for any discrepancies. Verify trade details on the Exchange websites from the trade verification facility provided by the Exchanges. | Do not fall prey to fixed / guaranteed returns schemes. |
Receive statement of accounts periodically. If opted for running account settlement, account has to be settled by the stock broker as per the option given by the client (30 or 90 days). | Do not fall prey to fraudsters sending emails and SMS sluring to trade in stocks /securities promising huge profits. |
In case of any grievances, approach stock broker or Stock Exchange or SEBI for getting the same resolved within prescribed time lines. | Do not follow herd mentalityfor investments. Seek expertand professional advice for your investments. |
Level 1 - Approach the Stock Broker at the designated Investor Grievance e-mail ID of the stock broker. The Stock Broker will strive to redress the grievance immediately, but not later than 30 days of the receipt of the grievance.
Level 2 - Approach the Stock Exchange using the grievance mechanism mentioned at the website of the respective exchange. Complaints Resolution Process at Stock Exchange explained graphically:
Type of Activity | Timelines for Activity |
---|---|
Additional information sought from the investor, if any, and provisionally forwarded to stock broker. | C + 7 Working days. |
Registration of the complaint and forwarding to the stock broker. | C + 8 Working Days i.e. T day. |
Amicable Resolution. | T + 15 Working Days. |
Refer to Grievance Redressal Committee (GRC), in case of no amicable resolution. | T + 16 Working Days. |
Complete resolution process post GRC. | T + 30 Working Days. |
In case where the GRC Member requires additional information, GRC order shall be completed within. | T + 45 Working Days. |
Implementation of GRC Order. | On receipt of GRC Order, if the order is in favour of the investor, debit the funds of the stock broker. Order for debit is issued immediately or as per the directions given in GRC order. |
In case the stock broker is aggrieved by the GRC order, will provide intention to avail arbitration | Within 7 days from receipt of order |
If intention from stock broker is received and the GRC order amount is upto Rs.20 lakhs | Investor is eligible for interim relief from Investor Protection Fund (IPF).The interim relief will be 50% of the GRC order amount or Rs.2 lakhs whichever is less. The same shall be provided after obtaining an Undertaking from the investor. |
Stock Broker shall file for arbitration | Within 6 months from the date of GRC recommendation |
In case the stock broker does not file for arbitration within 6 months | The GRC order amount shall be released to the investor after adjusting the amount released as interim relief, if any. |
Following steps are carried out by Stock Exchange for benefit of investor, in case stock broker defaults:
Following information is available on Stock Exchange website for information of investors:
Level 3 The complaint not redressed at Stock Broker / Stock Exchange level, may be lodged with SEBI on SCORES (a web based centralized grievance redressal system of SEBI)
Invest with knowledge & safety.
Every investor should be able to invest in right investment products based on their needs, manage and monitor them to meet their goals, access reports and enjoy financial wellness.
Details of Designation | Contact Person Name | Address | Contact No | Email ID | Working Hours |
---|---|---|---|---|---|
Customer Care | Ms. Anjum Ansari | 217, Silver Sanchora Castle, 7 RNT Marg, Indore - 452001 (MP) | 0731-6620000 | support@mandotsecurities.com | Mon-Sat 9:00 AM to 6:00 PM |
Head of Customer Care | Mr. Mahendra Singh Lodhi | 217, Silver Sanchora Castle, 7 RNT Marg, Indore - 452001 (MP) | 0731-6620074 | research@mandotsecurities.com | Mon-Sat 9:00 AM to 7:00 PM |
Compliance Officer | Mr. Rajesh Mandot | 8, Sunaro ki gali, Ratlam - 457001 (MP) | 9827094840 | rajeshmandot38@yahoo.com | Mon-Sat 9:00 AM to 7:00 PM |
CEO/Director | Mr. Amit Kumar Jain | 217, Silver Sanchora Castle, 7 RNT Marg, Indore - 452001 (MP) | 9826624099 | amit_jain939@yahoo.com | Mon-Sat 9:00 AM to 7:00 PM |
Principal Officer | Mr. Rajesh Mandot | 8, Sunaro ki gali, Ratlam - 457001 (MP) | 9827094840 | rajeshmandot38@yahoo.com | Mon-Sat 9:00 AM to 7:00 PM |