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NISM Certifications · NISM-Series-VI: Depository Operations · Investor Services (NISM VI)

A beneficial owner (BO) is dissatisfied with the service of her Depository Participant and wants to complain. Which is the usual first step in the grievance redress process for depository-related complaints?

The BO should first lodge the complaint with the Depository Participant and seek redress there. Only if the DP does not resolve it should the investor escalate to the depository or to SEBI's SCORES platform, so the DP is the first stage of the grievance route.

  1. AApproach the Supreme Court directly
  2. BFile the complaint with the DP and seek redress at that levelCorrect
  3. CWait for the depository to issue a show-cause notice to the DP
  4. DComplain to the issuer company's auditors

Explanation

The usual first step is to lodge the complaint with the DP itself, which must acknowledge and address it. If unresolved, the BO can escalate to the depository and then to SEBI through SCORES. Going to a court or an auditor skips the established grievance route.

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