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

A demat account holder complains that his Depository Participant has not resolved a service issue for several weeks. Where should he first lodge the complaint?

The investor should first lodge the complaint with the Depository Participant itself. The DP provides the service and must address it internally. If unsatisfied, the investor can escalate to the depository or SEBI SCORES. Courts, tax authorities and auditors are not the first forum.

  1. ADirectly with the Supreme Court
  2. BWith the Depository Participant itself, seeking redressal at its levelCorrect
  3. CWith the Income Tax Department
  4. DWith the issuer company's statutory auditor

Explanation

The normal route is to approach the DP first, as the DP is the entity providing the service. If unresolved, the investor can escalate to the depository and then use the SEBI SCORES platform. The other bodies have no role in DP service complaints.

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