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NISM Certifications · NISM-Series-VII: Securities Operations and Risk Management · Investor Grievances and Arbitration

Meera, an investor, finds that her broker has not credited the funds from her sale of shares despite settlement completion. Which route is most appropriate first to seek redress?

Meera should first lodge a written complaint with the broker's investor grievance cell. If it stays unresolved, she can escalate through SCORES or the exchange's investor service centre. The depository and clearing corporation do not handle unpaid sale proceeds, and closing her demat account would not solve the problem.

  1. ALodge a written complaint with the broker's investor grievance cell, and if unresolved, use SCORES or the exchange's investor service centreCorrect
  2. BWait for the depository to refund the amount
  3. CApproach the clearing corporation to debit her own bank account
  4. DCancel her demat account immediately

Explanation

The investor should first approach the broker's grievance channel, and if unresolved, escalate via SCORES or the exchange's investor service mechanism. The depository does not pay sale proceeds, the clearing corporation does not debit her account to resolve this, and closing the demat account does not help.

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